Mozambique Treasury bills · auction of 1 June 2022
Mozambique T-bill auction, 1 June 2022: 364-day at 15.44%, up 1 bps
At the Treasury bill auction dated 1 June 2022, the Banco de Moçambique cleared the 91-day bill at 15.41% (up 1 basis point), the 182-day bill at 15.41% (unchanged) and the 364-day bill at 15.44% (up 1 basis point). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 16.7bn against MZN 16.9bn on offer, 99% of the amount sought, and MZN 16.7bn was accepted.
At 15.44%, the 364-day rate is the highest in the 25 auctions of the past year.
A year earlier the 364-day bill cleared at 13.39%, so the government is paying 205 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 15,440 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 115,440 after 12 months: MZN 15,440 in interest before any withholding tax, about MZN 1,287 a month.
That is MZN 10 more than the same money would have earned at the previous auction.
For shorter money: MZN 7,705 on the 182-day bill (6 months), MZN 3,853 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 | 15.410% | 15.400% | MZN 13.50bn | MZN 13.46bn | MZN 13.42bn |
| 182-day | 15.410% | 15.410% | MZN 2.70bn | MZN 2.65bn | MZN 2.65bn |
| 364-day | 15.440% | 15.430% | MZN 700m | MZN 591m | MZN 591m |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 1 June 2022, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2022-06-01
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