Mozambique Treasury bills · auction of 3 October 2023
Mozambique T-bill auction, 3 October 2023: 364-day at 18.18%, up 6 bps
At the Treasury bill auction dated 3 October 2023, the Banco de Moçambique cleared the 91-day bill at 18.11% (up 4 basis points), the 182-day bill at 18.11% (up 10 basis points) and the 364-day bill at 18.18% (up 6 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 5.5bn against MZN 5.9bn on offer, 94% of the amount sought, and MZN 5.5bn was accepted.
At 18.18%, the 364-day rate is the highest in the 27 auctions of the past year.
A year earlier the 364-day bill cleared at 15.55%, so the government is paying 263 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 18,180 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 118,180 after 12 months: MZN 18,180 in interest before any withholding tax, about MZN 1,515 a month.
That is MZN 60 more than the same money would have earned at the previous auction.
For shorter money: MZN 9,055 on the 182-day bill (6 months), MZN 4,528 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 | 18.110% | 18.070% | MZN 1.20bn | MZN 1.07bn | MZN 1.07bn |
| 182-day | 18.110% | 18.010% | MZN 2.20bn | MZN 2.09bn | MZN 2.09bn |
| 364-day | 18.180% | 18.120% | MZN 2.50bn | MZN 2.38bn | MZN 2.38bn |
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, 3 October 2023, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2023-10-03
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.