Mozambique Treasury bills · auction of 6 June 2018
Mozambique T-bill auction, 6 June 2018: 364-day at 15.87%, down 1 bps
At the Treasury bill auction dated 6 June 2018, the Banco de Moçambique cleared the 91-day bill at 16.00% (down 1 basis point), the 182-day bill at 16.02% (unchanged) and the 364-day bill at 15.87% (down 1 basis point). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 2.7bn against MZN 3.5bn on offer, 77% of the amount sought, and MZN 2.1bn was accepted.
Over the past year the 364-day rate has ranged from 15.85% to 27.53%.
A year earlier the 364-day bill cleared at 27.60%, so the government is paying 1173 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 15,870 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 115,870 after 12 months: MZN 15,870 in interest before any withholding tax, about MZN 1,322 a month.
That is MZN 10 less than the same money would have earned at the previous auction.
For shorter money: MZN 8,010 on the 182-day bill (6 months), MZN 4,000 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 | 16.000% | 16.010% | MZN 500m | MZN 70m | MZN 70m |
| 182-day | 16.020% | 16.020% | MZN 1.50bn | MZN 500m | MZN 500m |
| 364-day | 15.870% | 15.880% | MZN 1.50bn | MZN 2.13bn | MZN 1.50bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 6 June 2018, compiled from the Banco de Moçambique. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2018-06-06
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