Mozambique Treasury bills · auction of 15 June 2022
Mozambique T-bill auction, 15 June 2022: 364-day at 15.45%, up 1 bps
At the Treasury bill auction dated 15 June 2022, the Banco de Moçambique cleared the 91-day bill at 15.42% (up 1 basis point), the 182-day bill at 15.42% (up 1 basis point) and the 364-day bill at 15.45% (up 1 basis point). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 7.0bn against MZN 7.0bn on offer, 100% of the amount sought, and MZN 6.9bn was accepted.
At 15.45%, 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 206 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 15,450 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 115,450 after 12 months: MZN 15,450 in interest before any withholding tax, about MZN 1,288 a month.
That is MZN 10 more than the same money would have earned at the previous auction.
For shorter money: MZN 7,710 on the 182-day bill (6 months), MZN 3,855 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 | 15.420% | 15.410% | MZN 5.60bn | MZN 5.54bn | MZN 5.54bn |
| 182-day | 15.420% | 15.410% | MZN 800m | MZN 730m | MZN 730m |
| 364-day | 15.450% | 15.440% | MZN 600m | MZN 715m | MZN 600m |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 15 June 2022, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2022-06-15
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