Mozambique Treasury bills · auction of 6 May 2020
Mozambique T-bill auction, 6 May 2020: 364-day at 10.69%, down 27 bps
At the Treasury bill auction dated 6 May 2020, the Banco de Moçambique cleared the 91-day bill at 10.04% (down 59 basis points), the 182-day bill at 10.58% (down 42 basis points) and the 364-day bill at 10.69% (down 27 basis points). The rate shown is the weighted average subscription rate.
Demand was strong: bids totalled MZN 9.7bn against MZN 4.9bn on offer, 201% of the amount sought, and MZN 4.9bn was accepted.
At 10.69%, 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 231 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 10,690 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 110,690 after 12 months: MZN 10,690 in interest before any withholding tax, about MZN 891 a month.
That is MZN 270 less than the same money would have earned at the previous auction.
For shorter money: MZN 5,290 on the 182-day bill (6 months), MZN 2,510 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 | 10.040% | 10.630% | MZN 325m | MZN 785m | MZN 325m |
| 182-day | 10.580% | 11.000% | MZN 1.16bn | MZN 2.56bn | MZN 1.16bn |
| 364-day | 10.690% | 10.960% | MZN 3.38bn | MZN 6.40bn | MZN 3.38bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 6 May 2020, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2020-05-06
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