Mozambique Treasury bills · auction of 16 November 2022
Mozambique T-bill auction, 16 November 2022: 364-day at 17.70%, up 5 bps
At the Treasury bill auction dated 16 November 2022, the Banco de Moçambique cleared the 91-day bill at 17.64% (up 4 basis points), the 182-day bill at 17.67% (up 5 basis points) and the 364-day bill at 17.70% (up 5 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 14.6bn against MZN 14.9bn on offer, 98% of the amount sought, and MZN 10.4bn was accepted.
At 17.70%, 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 430 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 17,700 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 117,700 after 12 months: MZN 17,700 in interest before any withholding tax, about MZN 1,475 a month.
That is MZN 50 more than the same money would have earned at the previous auction.
For shorter money: MZN 8,835 on the 182-day bill (6 months), MZN 4,410 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 | 17.640% | 17.600% | MZN 9.50bn | MZN 9.34bn | MZN 5.14bn |
| 182-day | 17.670% | 17.620% | MZN 2.30bn | MZN 2.23bn | MZN 2.23bn |
| 364-day | 17.700% | 17.650% | MZN 3.10bn | MZN 3.06bn | MZN 3.06bn |
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, 16 November 2022, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2022-11-16
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.