Mozambique Treasury bills · auction of 17 July 2024
Mozambique T-bill auction, 17 July 2024: 364-day at 16.40%, down 4 bps
At the Treasury bill auction dated 17 July 2024, the Banco de Moçambique cleared the 91-day bill at 15.83% (down 30 basis points), the 182-day bill at 16.16% (down 11 basis points) and the 364-day bill at 16.40% (down 4 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 4.3bn against MZN 4.9bn on offer, 89% of the amount sought, and MZN 3.1bn was accepted.
At 16.40%, 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 142 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 16,400 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 116,400 after 12 months: MZN 16,400 in interest before any withholding tax, about MZN 1,367 a month.
That is MZN 40 less than the same money would have earned at the previous auction.
For shorter money: MZN 8,080 on the 182-day bill (6 months), MZN 3,958 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 | 15.830% | 16.130% | MZN 1.60bn | MZN 1.42bn | MZN 738m |
| 182-day | 16.160% | 16.270% | MZN 1.60bn | MZN 1.46bn | MZN 1.33bn |
| 364-day | 16.400% | 16.440% | MZN 1.70bn | MZN 1.47bn | MZN 1.08bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 17 July 2024, compiled from the Banco de Moçambique. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2024-07-17
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