Mozambique Treasury bills · auction of 6 March 2019
Mozambique T-bill auction, 6 March 2019: 364-day at 13.00%, down 2 bps
At the Treasury bill auction dated 6 March 2019, the Banco de Moçambique cleared the 91-day bill at 13.36% (down 1 basis point), the 182-day bill at 13.32% (down 3 basis points) and the 364-day bill at 13.00% (down 2 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 1.6bn against MZN 2.5bn on offer, 65% of the amount sought, and MZN 1.6bn was accepted.
At 13.00%, the 364-day rate is the lowest in the 49 auctions of the past year.
A year earlier the 364-day bill cleared at 19.00%, so the government is paying 600 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 13,000 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 113,000 after 12 months: MZN 13,000 in interest before any withholding tax, about MZN 1,083 a month.
That is MZN 20 less than the same money would have earned at the previous auction.
For shorter money: MZN 6,660 on the 182-day bill (6 months), MZN 3,340 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 | 13.360% | 13.370% | MZN 500m | MZN 250m | MZN 250m |
| 182-day | 13.320% | 13.350% | MZN 500m | MZN 110m | MZN 110m |
| 364-day | 13.000% | 13.020% | MZN 1.50bn | MZN 1.27bn | MZN 1.27bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 6 March 2019, compiled from the Banco de Moçambique. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2019-03-06
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