Mozambique Treasury bills · auction of 16 December 2020
Mozambique T-bill auction, 16 December 2020: 364-day at 7.29%, down 23 bps
At the Treasury bill auction dated 16 December 2020, the Banco de Moçambique cleared the 91-day bill at 7.57% (down 14 basis points), the 182-day bill at 7.50% (down 8 basis points) and the 364-day bill at 7.29% (down 23 basis points). The rate shown is the weighted average subscription rate.
The auction was fully subscribed: bids totalled MZN 4.8bn against MZN 3.6bn on offer, 135% of the amount sought, and MZN 3.6bn was accepted.
At 7.29%, the 364-day rate is the lowest in the 24 auctions of the past year.
A year earlier the 364-day bill cleared at 11.86%, so the government is paying 457 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 7,292 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 107,292 after 12 months: MZN 7,292 in interest before any withholding tax, about MZN 608 a month.
That is MZN 231 less than the same money would have earned at the previous auction.
For shorter money: MZN 3,750 on the 182-day bill (6 months), MZN 1,892 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 | 7.570% | 7.707% | MZN 165m | MZN 276m | MZN 165m |
| 182-day | 7.500% | 7.578% | MZN 155m | MZN 297m | MZN 155m |
| 364-day | 7.292% | 7.523% | MZN 3.25bn | MZN 4.25bn | MZN 3.25bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 16 December 2020, compiled from the Banco de Moçambique. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2020-12-16
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