Mozambique Treasury bills · auction of 5 April 2023
Mozambique T-bill auction, 5 April 2023: 364-day at 17.81%, up 1 bps
At the Treasury bill auction dated 5 April 2023, the Banco de Moçambique cleared the 91-day bill at 17.74% (up 1 basis point), the 182-day bill at 17.76% (up 1 basis point) and the 364-day bill at 17.81% (up 1 basis point). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 5.5bn against MZN 6.5bn on offer, 85% of the amount sought, and MZN 5.5bn was accepted.
At 17.81%, the 364-day rate is the highest in the 23 auctions of the past year.
A year earlier the 364-day bill cleared at 13.39%, so the government is paying 442 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 17,810 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 117,810 after 12 months: MZN 17,810 in interest before any withholding tax, about MZN 1,484 a month.
That is MZN 10 more than the same money would have earned at the previous auction.
For shorter money: MZN 8,880 on the 182-day bill (6 months), MZN 4,435 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 | 17.740% | 17.730% | MZN 3.30bn | MZN 2.82bn | MZN 2.82bn |
| 182-day | 17.760% | 17.750% | MZN 1.20bn | MZN 974m | MZN 974m |
| 364-day | 17.810% | 17.800% | MZN 2.00bn | MZN 1.72bn | MZN 1.72bn |
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, 5 April 2023, compiled from the Banco de Moçambique. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2023-04-05
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.