Mozambique Treasury bills · auction of 26 August 2020
Mozambique T-bill auction, 26 August 2020: 364-day at 8.04%, down 14 bps
At the Treasury bill auction dated 26 August 2020, the Banco de Moçambique cleared the 91-day bill at 8.43% (down 7 basis points), the 182-day bill at 8.24% (down 28 basis points) and the 364-day bill at 8.04% (down 14 basis points). The rate shown is the weighted average subscription rate.
Demand was strong: bids totalled MZN 12.9bn against MZN 5.1bn on offer, 253% of the amount sought, and MZN 5.1bn was accepted.
At 8.04%, the 364-day rate is the lowest in the 23 auctions of the past year.
A year earlier the 364-day bill cleared at 12.25%, so the government is paying 421 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 8,040 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 108,040 after 12 months: MZN 8,040 in interest before any withholding tax, about MZN 670 a month.
That is MZN 140 less than the same money would have earned at the previous auction.
For shorter money: MZN 4,120 on the 182-day bill (6 months), MZN 2,108 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 | 8.430% | 8.500% | MZN 130m | MZN 454m | MZN 130m |
| 182-day | 8.240% | 8.520% | MZN 1.72bn | MZN 4.72bn | MZN 1.72bn |
| 364-day | 8.040% | 8.180% | MZN 3.25bn | MZN 7.72bn | MZN 3.25bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 26 August 2020, compiled from the Banco de Moçambique. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2020-08-26
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