Mozambique Treasury bills · auction of 3 August 2022
Mozambique T-bill auction, 3 August 2022: 364-day at 15.47%, up 7 bps
At the Treasury bill auction dated 3 August 2022, the Banco de Moçambique cleared the 91-day bill at 15.43% (unchanged), the 182-day bill at 15.47% (up 7 basis points) and the 364-day bill at 15.47% (up 7 basis points). The rate shown is the weighted average subscription rate.
The auction was fully subscribed: bids totalled MZN 13.8bn against MZN 13.5bn on offer, 103% of the amount sought, and MZN 13.4bn was accepted.
At 15.47%, the 364-day rate is the highest in the 24 auctions of the past year.
A year earlier the 364-day bill cleared at 13.40%, so the government is paying 207 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 15,470 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 115,470 after 12 months: MZN 15,470 in interest before any withholding tax, about MZN 1,289 a month.
That is MZN 70 more than the same money would have earned at the previous auction.
For shorter money: MZN 7,735 on the 182-day bill (6 months), MZN 3,858 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 | 15.430% | 15.430% | MZN 11.90bn | MZN 12.27bn | MZN 11.90bn |
| 182-day | 15.470% | 15.400% | MZN 1.00bn | MZN 915m | MZN 915m |
| 364-day | 15.470% | 15.400% | MZN 600m | MZN 660m | MZN 600m |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 3 August 2022, compiled from the Banco de Moçambique. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2022-08-03
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