Mozambique Treasury bills · auction of 6 April 2021
Mozambique T-bill auction, 6 April 2021: 364-day at 13.38%, up 3 bps
At the Treasury bill auction dated 6 April 2021, the Banco de Moçambique cleared the 91-day bill at 13.33% (up 4 basis points), the 182-day bill at 13.35% (up 3 basis points) and the 364-day bill at 13.38% (up 3 basis points). The rate shown is the weighted average subscription rate.
The auction was fully subscribed: bids totalled MZN 20.9bn against MZN 16.5bn on offer, 126% of the amount sought, and MZN 16.5bn was accepted.
At 13.38%, the 364-day rate is the highest in the 23 auctions of the past year.
A year earlier the 364-day bill cleared at 10.97%, so the government is paying 241 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 13,380 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 113,380 after 12 months: MZN 13,380 in interest before any withholding tax, about MZN 1,115 a month.
That is MZN 30 more than the same money would have earned at the previous auction.
For shorter money: MZN 6,675 on the 182-day bill (6 months), MZN 3,333 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 | 13.330% | 13.290% | MZN 6.49bn | MZN 8.38bn | MZN 6.49bn |
| 182-day | 13.350% | 13.320% | MZN 4.42bn | MZN 6.63bn | MZN 4.42bn |
| 364-day | 13.380% | 13.350% | MZN 5.61bn | MZN 5.86bn | MZN 5.56bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 6 April 2021, compiled from the Banco de Moçambique. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2021-04-06
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