Mozambique Treasury bills · auction of 20 February 2019
Mozambique T-bill auction, 20 February 2019: 91-day at 13.38%, down 2 bps
At the Treasury bill auction dated 20 February 2019, the Banco de Moçambique cleared the 91-day bill at 13.38% (down 2 basis points) and the 182-day bill at 13.35% (unchanged). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 720m against MZN 1.0bn on offer, 72% of the amount sought, and MZN 650m was accepted.
At 13.38%, the 91-day rate is the lowest in the 43 auctions of the past year.
A year earlier the 91-day bill cleared at 19.54%, so the government is paying 616 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 6,675 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 106,675 after 6 months: MZN 6,675 in interest before any withholding tax, about MZN 1,113 a month.
That is the same as at the previous auction.
For shorter money: MZN 3,345 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 | 13.380% | 13.400% | MZN 500m | MZN 570m | MZN 500m |
| 182-day | 13.350% | 13.350% | MZN 500m | MZN 150m | MZN 150m |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 20 February 2019, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2019-02-20
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