Mozambique Treasury bills · auction of 16 August 2023
Mozambique T-bill auction, 16 August 2023: 364-day at 17.83%, unchanged
At the Treasury bill auction dated 16 August 2023, the Banco de Moçambique cleared the 91-day bill at 17.82% (down 1 basis point), the 182-day bill at 17.82% (unchanged) and the 364-day bill at 17.83% (unchanged). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 2.1bn against MZN 7.5bn on offer, 28% of the amount sought, and MZN 2.1bn was accepted.
At 17.83%, the 364-day rate is the highest in the 24 auctions of the past year.
A year earlier the 364-day bill cleared at 15.47%, so the government is paying 236 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 17,830 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 117,830 after 12 months: MZN 17,830 in interest before any withholding tax, about MZN 1,486 a month.
That is the same as at the previous auction.
For shorter money: MZN 8,910 on the 182-day bill (6 months), MZN 4,455 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 | 17.820% | 17.830% | MZN 5.00bn | MZN 1.11bn | MZN 1.11bn |
| 182-day | 17.820% | 17.820% | MZN 1.50bn | MZN 729m | MZN 729m |
| 364-day | 17.830% | 17.830% | MZN 1.00bn | MZN 250m | MZN 250m |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 16 August 2023, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2023-08-16
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