Mozambique Treasury bills · auction of 3 April 2024
Mozambique T-bill auction, 3 April 2024: 364-day at 17.77%, down 60 bps
At the Treasury bill auction dated 3 April 2024, the Banco de Moçambique cleared the 91-day bill at 16.97% (down 64 basis points), the 182-day bill at 17.56% (down 50 basis points) and the 364-day bill at 17.77% (down 60 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 3.6bn against MZN 6.6bn on offer, 55% of the amount sought, and MZN 3.4bn was accepted.
At 17.77%, the 364-day rate is the lowest in the 30 auctions of the past year.
A year earlier the 364-day bill cleared at 17.80%, so the government is paying 3 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 17,770 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 117,770 after 12 months: MZN 17,770 in interest before any withholding tax, about MZN 1,481 a month.
That is MZN 600 less than the same money would have earned at the previous auction.
For shorter money: MZN 8,780 on the 182-day bill (6 months), MZN 4,243 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 | 16.970% | 17.610% | MZN 2.70bn | MZN 1.83bn | MZN 1.73bn |
| 182-day | 17.560% | 18.060% | MZN 1.10bn | MZN 135m | MZN 135m |
| 364-day | 17.770% | 18.370% | MZN 2.80bn | MZN 1.66bn | MZN 1.52bn |
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 April 2024, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2024-04-03
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.