Mozambique Treasury bills · auction of 9 May 2018
Mozambique T-bill auction, 9 May 2018: 364-day at 15.90%, up 2 bps
At the Treasury bill auction dated 9 May 2018, the Banco de Moçambique cleared the 91-day bill at 16.06% (down 4 basis points), the 182-day bill at 16.05% (down 5 basis points) and the 364-day bill at 15.90% (up 2 basis points). The rate shown is the weighted average subscription rate.
The auction was fully subscribed: bids totalled MZN 3.6bn against MZN 3.5bn on offer, 103% of the amount sought, and MZN 2.6bn was accepted.
Over the past year the 364-day rate has ranged from 15.88% to 27.78%.
A year earlier the 364-day bill cleared at 28.22%, so the government is paying 1232 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 15,900 in 12 months on the 364-day bill
Put MZN 100,000 into the 364-day bill at this auction and you get back MZN 115,900 after 12 months: MZN 15,900 in interest before any withholding tax, about MZN 1,325 a month.
That is MZN 20 more than the same money would have earned at the previous auction.
For shorter money: MZN 8,025 on the 182-day bill (6 months), MZN 4,015 on the 91-day bill (3 months).
The government pays the full amount at maturity; the risk is Mozambique’s government not paying, and the money is locked until then.
Results
By tenor
| Tenor | Rate | Previous | Offered | Bids | Accepted |
|---|---|---|---|---|---|
| 91-day | 16.060% | 16.100% | MZN 500m | MZN 435m | MZN 335m |
| 182-day | 16.050% | 16.100% | MZN 2.00bn | MZN 2.08bn | MZN 1.53bn |
| 364-day | 15.900% | 15.880% | MZN 1.00bn | MZN 1.10bn | MZN 700m |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 9 May 2018, compiled from the Banco de Moçambique. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2018-05-09
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