Mozambique Treasury bills · auction of 2 October 2019
Mozambique T-bill auction, 2 October 2019: 364-day at 12.21%, unchanged
At the Treasury bill auction dated 2 October 2019, the Banco de Moçambique cleared the 91-day bill at 11.87% (down 3 basis points), the 182-day bill at 12.00% (down 7 basis points) and the 364-day bill at 12.21% (unchanged). The rate shown is the weighted average subscription rate.
The auction was fully subscribed: bids totalled MZN 9.0bn against MZN 9.0bn on offer, 100% of the amount sought, and MZN 4.8bn was accepted.
Over the past year the 364-day rate has ranged from 12.20% to 14.55%.
A year earlier the 364-day bill cleared at 14.75%, so the government is paying 254 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 12,210 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 112,210 after 12 months: MZN 12,210 in interest before any withholding tax, about MZN 1,018 a month.
That is the same as at the previous auction.
For shorter money: MZN 6,000 on the 182-day bill (6 months), MZN 2,967 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 | 11.870% | 11.900% | MZN 1.00bn | MZN 859m | MZN 809m |
| 182-day | 12.000% | 12.070% | MZN 2.00bn | MZN 1.16bn | MZN 160m |
| 364-day | 12.210% | 12.210% | MZN 6.00bn | MZN 6.99bn | MZN 3.82bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 2 October 2019, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2019-10-02
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