Mozambique Treasury bills · auction of 21 November 2018
Mozambique T-bill auction, 21 November 2018: 91-day at 14.14%, down 1 bps
At the Treasury bill auction dated 21 November 2018, the Banco de Moçambique cleared the 91-day bill at 14.14% (down 1 basis point) and the 182-day bill at 14.05% (down 7 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 463m against MZN 1.5bn on offer, 31% of the amount sought, and MZN 463m was accepted.
At 14.14%, the 91-day rate is the lowest in the 41 auctions of the past year.
A year earlier the 91-day bill cleared at 24.03%, so the government is paying 989 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 7,025 in 6 months on the 182-day bill
Put MZN 100,000 into the 182-day bill at this auction and you get back MZN 107,025 after 6 months: MZN 7,025 in interest before any withholding tax, about MZN 1,171 a month.
That is MZN 35 less than the same money would have earned at the previous auction.
For shorter money: MZN 3,535 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 | 14.140% | 14.150% | MZN 500m | MZN 140m | MZN 140m |
| 182-day | 14.050% | 14.120% | MZN 1.00bn | MZN 323m | MZN 323m |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 21 November 2018, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2018-11-21
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