Mozambique Treasury bills · auction of 21 September 2022
Mozambique T-bill auction, 21 September 2022: 364-day at 15.55%, unchanged
At the Treasury bill auction dated 21 September 2022, the Banco de Moçambique cleared the 91-day bill at 15.50% (up 1 basis point), the 182-day bill at 15.52% (up 3 basis points) and the 364-day bill at 15.55% (unchanged). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 5.1bn against MZN 5.2bn on offer, 98% of the amount sought, and MZN 4.8bn was accepted.
At 15.55%, 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 215 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 15,550 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 115,550 after 12 months: MZN 15,550 in interest before any withholding tax, about MZN 1,296 a month.
That is the same as at the previous auction.
For shorter money: MZN 7,760 on the 182-day bill (6 months), MZN 3,875 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 | 15.500% | 15.490% | MZN 1.70bn | MZN 1.65bn | MZN 1.32bn |
| 182-day | 15.520% | 15.490% | MZN 1.40bn | MZN 1.34bn | MZN 1.34bn |
| 364-day | 15.550% | 15.550% | MZN 2.10bn | MZN 2.10bn | MZN 2.10bn |
Source: Banco de Moçambique result · weighted average subscription rate
Cite or reuse this data
Free to quote, chart and republish with the credit “Source: Afronomics, compiled from the Banco de Moçambique” and a link to this page.
Afronomics (2026). Mozambique Treasury bill auction, 21 September 2022, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2022-09-21
Free, every weekday at 7:00
The Afronomics Morning
Africa’s markets before 7am: the currencies that moved overnight, the auction results that landed, what is due today and the headlines that matter. Plus the Weekly every Monday.