Mozambique Treasury bills · auction of 5 May 2021
Mozambique T-bill auction, 5 May 2021: 364-day at 13.39%, up 1 bps
At the Treasury bill auction dated 5 May 2021, the Banco de Moçambique cleared the 91-day bill at 13.36% (up 2 basis points), the 182-day bill at 13.39% (up 3 basis points) and the 364-day bill at 13.39% (up 1 basis point). The rate shown is the weighted average subscription rate.
The auction was fully subscribed: bids totalled MZN 12.3bn against MZN 11.2bn on offer, 110% of the amount sought, and MZN 11.0bn was accepted.
At 13.39%, the 364-day rate is the highest in the 23 auctions of the past year.
A year earlier the 364-day bill cleared at 10.96%, so the government is paying 243 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 13,390 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 113,390 after 12 months: MZN 13,390 in interest before any withholding tax, about MZN 1,116 a month.
That is MZN 10 more than the same money would have earned at the previous auction.
For shorter money: MZN 6,695 on the 182-day bill (6 months), MZN 3,340 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 | 13.360% | 13.340% | MZN 3.96bn | MZN 4.68bn | MZN 3.96bn |
| 182-day | 13.390% | 13.360% | MZN 1.92bn | MZN 1.79bn | MZN 1.79bn |
| 364-day | 13.390% | 13.380% | MZN 5.28bn | MZN 5.83bn | MZN 5.28bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 5 May 2021, compiled from the Banco de Moçambique. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2021-05-05
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