Mozambique Treasury bills · auction of 2 September 2020
Mozambique T-bill auction, 2 September 2020: 364-day at 7.98%, down 6 bps
At the Treasury bill auction dated 2 September 2020, the Banco de Moçambique cleared the 91-day bill at 8.33% (down 10 basis points), the 182-day bill at 8.24% (unchanged) and the 364-day bill at 7.98% (down 6 basis points). The rate shown is the weighted average subscription rate.
Demand was strong: bids totalled MZN 10.2bn against MZN 3.9bn on offer, 263% of the amount sought, and MZN 3.9bn was accepted.
At 7.98%, 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 427 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 7,980 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 107,980 after 12 months: MZN 7,980 in interest before any withholding tax, about MZN 665 a month.
That is MZN 60 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 2,083 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 | 8.330% | 8.430% | MZN 115m | MZN 271m | MZN 115m |
| 182-day | 8.240% | 8.240% | MZN 900m | MZN 2.57bn | MZN 900m |
| 364-day | 7.980% | 8.040% | MZN 2.86bn | MZN 7.36bn | MZN 2.86bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 2 September 2020, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2020-09-02
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