Mozambique Treasury bills · auction of 24 April 2024
Mozambique T-bill auction, 24 April 2024: 364-day at 17.76%, up 4 bps
At the Treasury bill auction dated 24 April 2024, the Banco de Moçambique cleared the 91-day bill at 17.00% (up 18 basis points), the 182-day bill at 17.12% (down 43 basis points) and the 364-day bill at 17.76% (up 4 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 2.7bn against MZN 4.0bn on offer, 68% of the amount sought, and MZN 2.7bn was accepted.
Over the past year the 364-day rate has ranged from 17.72% to 19.05%.
A year earlier the 364-day bill cleared at 17.81%, so the government is paying 5 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 17,760 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 117,760 after 12 months: MZN 17,760 in interest before any withholding tax, about MZN 1,480 a month.
That is MZN 40 more than the same money would have earned at the previous auction.
For shorter money: MZN 8,560 on the 182-day bill (6 months), MZN 4,250 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 | 17.000% | 16.820% | MZN 1.50bn | MZN 1.06bn | MZN 1.05bn |
| 182-day | 17.120% | 17.550% | MZN 1.00bn | MZN 275m | MZN 275m |
| 364-day | 17.760% | 17.720% | MZN 1.50bn | MZN 1.37bn | MZN 1.37bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 24 April 2024, compiled from the Banco de Moçambique. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2024-04-24
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