Mozambique Treasury bills · auction of 6 February 2019
Mozambique T-bill auction, 6 February 2019: 364-day at 13.03%, down 2 bps
At the Treasury bill auction dated 6 February 2019, the Banco de Moçambique cleared the 182-day bill at 13.36% (down 2 basis points) and the 364-day bill at 13.03% (down 2 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 3.0bn against MZN 5.0bn on offer, 59% of the amount sought, and MZN 3.0bn was accepted.
At 13.03%, the 364-day rate is the lowest in the 48 auctions of the past year.
A year earlier the 364-day bill cleared at 20.70%, so the government is paying 767 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 13,030 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 113,030 after 12 months: MZN 13,030 in interest before any withholding tax, about MZN 1,086 a month.
That is MZN 20 less than the same money would have earned at the previous auction.
For shorter money: MZN 6,680 on the 182-day bill (6 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 |
|---|---|---|---|---|---|
| 182-day | 13.360% | 13.380% | MZN 500m | MZN 405m | MZN 405m |
| 364-day | 13.030% | 13.050% | MZN 4.50bn | MZN 2.55bn | MZN 2.55bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 6 February 2019, compiled from the Banco de Moçambique. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2019-02-06
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