Mozambique Treasury bills · auction of 2 December 2020
Mozambique T-bill auction, 2 December 2020: 364-day at 7.52%, down 4 bps
At the Treasury bill auction dated 2 December 2020, the Banco de Moçambique cleared the 91-day bill at 7.71% (down 7 basis points), the 182-day bill at 7.58% (down 14 basis points) and the 364-day bill at 7.52% (down 4 basis points). The rate shown is the weighted average subscription rate.
Demand was strong: bids totalled MZN 5.0bn against MZN 2.0bn on offer, 249% of the amount sought, and MZN 2.0bn was accepted.
At 7.52%, the 364-day rate is the lowest in the 24 auctions of the past year.
A year earlier the 364-day bill cleared at 11.78%, so the government is paying 426 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 7,523 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 107,523 after 12 months: MZN 7,523 in interest before any withholding tax, about MZN 627 a month.
That is MZN 37 less than the same money would have earned at the previous auction.
For shorter money: MZN 3,789 on the 182-day bill (6 months), MZN 1,927 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 | 7.707% | 7.780% | MZN 650m | MZN 1.10bn | MZN 650m |
| 182-day | 7.578% | 7.720% | MZN 515m | MZN 1.68bn | MZN 515m |
| 364-day | 7.523% | 7.560% | MZN 840m | MZN 2.21bn | MZN 840m |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 2 December 2020, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2020-12-02
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