Mozambique Treasury bills · auction of 3 October 2018
Mozambique T-bill auction, 3 October 2018: 364-day at 14.61%, down 14 bps
At the Treasury bill auction dated 3 October 2018, the Banco de Moçambique cleared the 91-day bill at 14.30% (down 5 basis points), the 182-day bill at 14.53% (down 7 basis points) and the 364-day bill at 14.61% (down 14 basis points). The rate shown is the weighted average subscription rate.
The auction was fully subscribed: bids totalled MZN 5.2bn against MZN 4.5bn on offer, 115% of the amount sought, and MZN 4.1bn was accepted.
At 14.61%, the 364-day rate is the lowest in the 49 auctions of the past year.
A year earlier the 364-day bill cleared at 26.59%, so the government is paying 1198 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 14,610 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 114,610 after 12 months: MZN 14,610 in interest before any withholding tax, about MZN 1,218 a month.
That is MZN 140 less than the same money would have earned at the previous auction.
For shorter money: MZN 7,265 on the 182-day bill (6 months), MZN 3,575 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 | 14.300% | 14.350% | MZN 500m | MZN 425m | MZN 425m |
| 182-day | 14.530% | 14.600% | MZN 1.00bn | MZN 714m | MZN 714m |
| 364-day | 14.610% | 14.750% | MZN 3.00bn | MZN 4.05bn | MZN 3.00bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 3 October 2018, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2018-10-03
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