Mozambique Treasury bills · auction of 20 April 2022
Mozambique T-bill auction, 20 April 2022: 364-day at 15.40%, unchanged
At the Treasury bill auction dated 20 April 2022, the Banco de Moçambique cleared the 91-day bill at 15.39% (up 3 basis points), the 182-day bill at 15.40% (up 1 basis point) and the 364-day bill at 15.40% (unchanged). The rate shown is the weighted average subscription rate.
The auction was fully subscribed: bids totalled MZN 9.8bn against MZN 9.8bn on offer, 100% of the amount sought, and MZN 6.9bn was accepted.
At 15.40%, the 364-day rate is the highest in the 25 auctions of the past year.
A year earlier the 364-day bill cleared at 13.38%, so the government is paying 202 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 15,400 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 115,400 after 12 months: MZN 15,400 in interest before any withholding tax, about MZN 1,283 a month.
That is the same as at the previous auction.
For shorter money: MZN 7,700 on the 182-day bill (6 months), MZN 3,848 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 | 15.390% | 15.360% | MZN 6.30bn | MZN 6.31bn | MZN 5.31bn |
| 182-day | 15.400% | 15.390% | MZN 2.30bn | MZN 2.24bn | MZN 1.44bn |
| 364-day | 15.400% | 15.400% | MZN 1.20bn | MZN 1.29bn | MZN 115m |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 20 April 2022, compiled from the Banco de Moçambique. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2022-04-20
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