Mozambique Treasury bills · auction of 22 May 2024
Mozambique T-bill auction, 22 May 2024: 364-day at 17.71%, unchanged
At the Treasury bill auction dated 22 May 2024, the Banco de Moçambique cleared the 91-day bill at 16.96% (unchanged), the 182-day bill at 17.10% (down 2 basis points) and the 364-day bill at 17.71% (unchanged). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 6.9bn against MZN 7.0bn on offer, 99% of the amount sought, and MZN 6.9bn 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 the same as at the previous auction.
For shorter money: MZN 8,550 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% | 16.960% | MZN 1.20bn | MZN 1.19bn | MZN 1.19bn |
| 182-day | 17.100% | 17.120% | MZN 800m | MZN 772m | MZN 772m |
| 364-day | 17.710% | 17.710% | MZN 5.00bn | MZN 4.96bn | MZN 4.96bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 22 May 2024, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2024-05-22
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