Mozambique Treasury bills · auction of 19 April 2023
Mozambique T-bill auction, 19 April 2023: 364-day at 17.81%, unchanged
At the Treasury bill auction dated 19 April 2023, the Banco de Moçambique cleared the 91-day bill at 17.75% (up 1 basis point), the 182-day bill at 17.76% (unchanged) and the 364-day bill at 17.81% (unchanged). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 3.9bn against MZN 5.5bn on offer, 70% of the amount sought, and MZN 3.9bn 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 15.40%, so the government is paying 241 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 the same as at the previous auction.
For shorter money: MZN 8,880 on the 182-day bill (6 months), MZN 4,438 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 | 17.750% | 17.740% | MZN 3.00bn | MZN 2.53bn | MZN 2.53bn |
| 182-day | 17.760% | 17.760% | MZN 1.00bn | MZN 583m | MZN 583m |
| 364-day | 17.810% | 17.810% | MZN 1.50bn | MZN 762m | MZN 762m |
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, 19 April 2023, compiled from the Banco de Moçambique. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2023-04-19
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.