Mozambique Treasury bills · auction of 5 June 2024
Mozambique T-bill auction, 5 June 2024: 364-day at 17.02%, down 69 bps
At the Treasury bill auction dated 5 June 2024, the Banco de Moçambique cleared the 91-day bill at 16.27% (down 69 basis points), the 182-day bill at 16.54% (down 56 basis points) and the 364-day bill at 17.02% (down 69 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 4.0bn against MZN 4.3bn on offer, 94% of the amount sought, and MZN 4.0bn was accepted.
At 17.02%, 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 80 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 17,020 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 117,020 after 12 months: MZN 17,020 in interest before any withholding tax, about MZN 1,418 a month.
That is MZN 690 less than the same money would have earned at the previous auction.
For shorter money: MZN 8,270 on the 182-day bill (6 months), MZN 4,067 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 | 16.270% | 16.960% | MZN 1.50bn | MZN 1.32bn | MZN 1.32bn |
| 182-day | 16.540% | 17.100% | MZN 1.00bn | MZN 979m | MZN 979m |
| 364-day | 17.020% | 17.710% | MZN 1.80bn | MZN 1.75bn | MZN 1.75bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 5 June 2024, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2024-06-05
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