Mozambique Treasury bills · auction of 3 June 2020
Mozambique T-bill auction, 3 June 2020: 364-day at 10.49%, down 11 bps
At the Treasury bill auction dated 3 June 2020, the Banco de Moçambique cleared the 91-day bill at 9.94% (down 6 basis points), the 182-day bill at 10.42% (down 10 basis points) and the 364-day bill at 10.49% (down 11 basis points). The rate shown is the weighted average subscription rate.
Demand was strong: bids totalled MZN 9.5bn against MZN 4.6bn on offer, 207% of the amount sought, and MZN 4.6bn was accepted.
At 10.49%, the 364-day rate is the lowest in the 24 auctions of the past year.
A year earlier the 364-day bill cleared at 13.00%, so the government is paying 251 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 10,490 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 110,490 after 12 months: MZN 10,490 in interest before any withholding tax, about MZN 874 a month.
That is MZN 110 less than the same money would have earned at the previous auction.
For shorter money: MZN 5,210 on the 182-day bill (6 months), MZN 2,485 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 | 9.940% | 10.000% | MZN 150m | MZN 300m | MZN 150m |
| 182-day | 10.420% | 10.520% | MZN 640m | MZN 1.32bn | MZN 640m |
| 364-day | 10.490% | 10.600% | MZN 3.79bn | MZN 7.84bn | MZN 3.79bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 3 June 2020, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2020-06-03
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