Mozambique Treasury bills · auction of 8 May 2024
Mozambique T-bill auction, 8 May 2024: 364-day at 17.71%, down 5 bps
At the Treasury bill auction dated 8 May 2024, the Banco de Moçambique cleared the 91-day bill at 16.96% (down 4 basis points), the 182-day bill at 17.12% (unchanged) and the 364-day bill at 17.71% (down 5 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 9.1bn against MZN 10.0bn on offer, 91% of the amount sought, and MZN 8.7bn was accepted.
At 17.71%, the 364-day rate is the lowest in the 31 auctions of the past year.
A year earlier the 364-day bill cleared at 17.82%, so the government is paying 11 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 17,710 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 117,710 after 12 months: MZN 17,710 in interest before any withholding tax, about MZN 1,476 a month.
That is MZN 50 less 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 4,240 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 | 16.960% | 17.000% | MZN 2.00bn | MZN 1.50bn | MZN 1.48bn |
| 182-day | 17.120% | 17.120% | MZN 1.00bn | MZN 638m | MZN 638m |
| 364-day | 17.710% | 17.760% | MZN 7.00bn | MZN 6.92bn | MZN 6.62bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 8 May 2024, compiled from the Banco de Moçambique. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2024-05-08
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