Mozambique Treasury bills · auction of 17 May 2023
Mozambique T-bill auction, 17 May 2023: 364-day at 17.82%, unchanged
At the Treasury bill auction dated 17 May 2023, the Banco de Moçambique cleared the 91-day bill at 17.78% (unchanged), the 182-day bill at 17.80% (unchanged) and the 364-day bill at 17.82% (unchanged). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 5.9bn against MZN 6.7bn on offer, 89% of the amount sought, and MZN 5.9bn was accepted.
At 17.82%, the 364-day rate is the highest in the 23 auctions of the past year.
A year earlier the 364-day bill cleared at 15.42%, so the government is paying 240 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 17,820 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 117,820 after 12 months: MZN 17,820 in interest before any withholding tax, about MZN 1,485 a month.
That is the same as at the previous auction.
For shorter money: MZN 8,900 on the 182-day bill (6 months), MZN 4,445 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 | 17.780% | 17.780% | MZN 3.70bn | MZN 3.47bn | MZN 3.47bn |
| 182-day | 17.800% | 17.800% | MZN 1.40bn | MZN 1.14bn | MZN 1.14bn |
| 364-day | 17.820% | 17.820% | MZN 1.60bn | MZN 1.33bn | MZN 1.33bn |
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, 17 May 2023, compiled from the Banco de Moçambique. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2023-05-17
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.