Mozambique Treasury bills · auction of 18 August 2021
Mozambique T-bill auction, 18 August 2021: 364-day at 13.40%, unchanged
At the Treasury bill auction dated 18 August 2021, the Banco de Moçambique cleared the 91-day bill at 13.36% (up 1 basis point), the 182-day bill at 13.40% (up 5 basis points) and the 364-day bill at 13.40% (unchanged). The rate shown is the weighted average subscription rate.
The auction was fully subscribed: bids totalled MZN 7.4bn against MZN 7.1bn on offer, 104% of the amount sought, and MZN 7.1bn was accepted.
At 13.40%, the 364-day rate is the highest in the 25 auctions of the past year.
A year earlier the 364-day bill cleared at 8.18%, so the government is paying 522 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 13,400 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 113,400 after 12 months: MZN 13,400 in interest before any withholding tax, about MZN 1,117 a month.
That is the same as at the previous auction.
For shorter money: MZN 6,700 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% | 13.350% | MZN 710m | MZN 919m | MZN 710m |
| 182-day | 13.400% | 13.350% | MZN 760m | MZN 846m | MZN 760m |
| 364-day | 13.400% | 13.400% | MZN 5.60bn | MZN 5.59bn | MZN 5.59bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 18 August 2021, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2021-08-18
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