Mozambique Treasury bills · auction of 17 June 2020
Mozambique T-bill auction, 17 June 2020: 364-day at 10.18%, down 31 bps
At the Treasury bill auction dated 17 June 2020, the Banco de Moçambique cleared the 91-day bill at 9.90% (down 4 basis points), the 182-day bill at 10.38% (down 4 basis points) and the 364-day bill at 10.18% (down 31 basis points). The rate shown is the weighted average subscription rate.
The auction was fully subscribed: bids totalled MZN 5.3bn against MZN 4.3bn on offer, 123% of the amount sought, and MZN 3.7bn was accepted.
At 10.18%, 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 282 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 10,180 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 110,180 after 12 months: MZN 10,180 in interest before any withholding tax, about MZN 848 a month.
That is MZN 310 less than the same money would have earned at the previous auction.
For shorter money: MZN 5,190 on the 182-day bill (6 months), MZN 2,475 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 | 9.900% | 9.940% | MZN 162m | MZN 417m | MZN 162m |
| 182-day | 10.380% | 10.420% | MZN 1.01bn | MZN 500m | MZN 350m |
| 364-day | 10.180% | 10.490% | MZN 3.16bn | MZN 4.41bn | MZN 3.16bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 17 June 2020, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2020-06-17
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