Mozambique Treasury bills · auction of 5 December 2018
Mozambique T-bill auction, 5 December 2018: 364-day at 13.96%, down 14 bps
At the Treasury bill auction dated 5 December 2018, the Banco de Moçambique cleared the 91-day bill at 14.00% (down 11 basis points), the 182-day bill at 13.99% (down 6 basis points) and the 364-day bill at 13.96% (down 14 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 1.2bn against MZN 3.5bn on offer, 34% of the amount sought, and MZN 1.2bn was accepted.
At 13.96%, the 364-day rate is the lowest in the 48 auctions of the past year.
A year earlier the 364-day bill cleared at 25.40%, so the government is paying 1144 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 13,960 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 113,960 after 12 months: MZN 13,960 in interest before any withholding tax, about MZN 1,163 a month.
That is MZN 140 less than the same money would have earned at the previous auction.
For shorter money: MZN 6,995 on the 182-day bill (6 months), MZN 3,500 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 | 14.000% | 14.110% | MZN 500m | MZN 415m | MZN 415m |
| 182-day | 13.990% | 14.050% | MZN 500m | MZN 206m | MZN 206m |
| 364-day | 13.960% | 14.100% | MZN 2.50bn | MZN 570m | MZN 570m |
Source: Banco de Moçambique result · weighted average subscription rate
Cite or reuse this data
Free to quote, chart and republish with the credit “Source: Afronomics, compiled from the Banco de Moçambique” and a link to this page.
Afronomics (2026). Mozambique Treasury bill auction, 5 December 2018, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2018-12-05
Free, every weekday at 7:00
The Afronomics Morning
Africa’s markets before 7am: the currencies that moved overnight, the auction results that landed, what is due today and the headlines that matter. Plus the Weekly every Monday.