Mozambique Treasury bills · auction of 18 March 2020
Mozambique T-bill auction, 18 March 2020: 364-day at 10.96%, down 13 bps
At the Treasury bill auction dated 18 March 2020, the Banco de Moçambique cleared the 91-day bill at 10.99% (down 160 basis points), the 182-day bill at 11.05% (down 12 basis points) and the 364-day bill at 10.96% (down 13 basis points). The rate shown is the weighted average subscription rate.
Demand was strong: bids totalled MZN 1.3bn against MZN 600m on offer, 217% of the amount sought, and MZN 600m was accepted.
At 10.96%, the 364-day rate is the lowest in the 25 auctions of the past year.
A year earlier the 364-day bill cleared at 13.00%, so the government is paying 204 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 10,960 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 110,960 after 12 months: MZN 10,960 in interest before any withholding tax, about MZN 913 a month.
That is MZN 130 less than the same money would have earned at the previous auction.
For shorter money: MZN 5,525 on the 182-day bill (6 months), MZN 2,748 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 | 10.990% | 12.590% | MZN 200m | MZN 663m | MZN 200m |
| 182-day | 11.050% | 11.170% | MZN 200m | MZN 423m | MZN 200m |
| 364-day | 10.960% | 11.090% | MZN 200m | MZN 215m | MZN 200m |
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, 18 March 2020, compiled from the Banco de Moçambique. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2020-03-18
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.