Mozambique Treasury bills · auction of 17 April 2024
Mozambique T-bill auction, 17 April 2024: 364-day at 17.72%, down 5 bps
At the Treasury bill auction dated 17 April 2024, the Banco de Moçambique cleared the 91-day bill at 16.82% (down 15 basis points), the 182-day bill at 17.55% (down 1 basis point) and the 364-day bill at 17.72% (down 5 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 5.8bn against MZN 8.0bn on offer, 73% of the amount sought, and MZN 5.8bn was accepted.
At 17.72%, the 364-day rate is the lowest in the 30 auctions of the past year.
A year earlier the 364-day bill cleared at 17.81%, so the government is paying 9 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 17,720 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 117,720 after 12 months: MZN 17,720 in interest before any withholding tax, about MZN 1,477 a month.
That is MZN 50 less than the same money would have earned at the previous auction.
For shorter money: MZN 8,775 on the 182-day bill (6 months), MZN 4,205 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 | 16.820% | 16.970% | MZN 1.50bn | MZN 954m | MZN 954m |
| 182-day | 17.550% | 17.560% | MZN 3.50bn | MZN 2.88bn | MZN 2.88bn |
| 364-day | 17.720% | 17.770% | MZN 3.00bn | MZN 1.99bn | MZN 1.99bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 17 April 2024, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2024-04-17
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