Mozambique Treasury bills · auction of 1 April 2020
Mozambique T-bill auction, 1 April 2020: 364-day at 10.97%, up 1 bps
At the Treasury bill auction dated 1 April 2020, the Banco de Moçambique cleared the 91-day bill at 10.67% (down 32 basis points), the 182-day bill at 11.01% (down 4 basis points) and the 364-day bill at 10.97% (up 1 basis point). The rate shown is the weighted average subscription rate.
The auction was fully subscribed: bids totalled MZN 4.9bn against MZN 3.7bn on offer, 133% of the amount sought, and MZN 3.7bn was accepted.
Over the past year the 364-day rate has ranged from 10.96% to 13.00%.
A year earlier the 364-day bill cleared at 13.00%, so the government is paying 203 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 10,970 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 110,970 after 12 months: MZN 10,970 in interest before any withholding tax, about MZN 914 a month.
That is MZN 10 more than the same money would have earned at the previous auction.
For shorter money: MZN 5,505 on the 182-day bill (6 months), MZN 2,668 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 | 10.670% | 10.990% | MZN 800m | MZN 1.38bn | MZN 800m |
| 182-day | 11.010% | 11.050% | MZN 900m | MZN 1.42bn | MZN 900m |
| 364-day | 10.970% | 10.960% | MZN 2.00bn | MZN 2.13bn | MZN 2.00bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 1 April 2020, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2020-04-01
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