Mozambique Treasury bills · auction of 18 September 2024
Mozambique T-bill auction, 18 September 2024: 364-day at 15.20%, unchanged
At the Treasury bill auction dated 18 September 2024, the Banco de Moçambique cleared the 91-day bill at 14.99% (down 1 basis point), the 182-day bill at 15.19% (down 5 basis points) and the 364-day bill at 15.20% (unchanged). The rate shown is the weighted average subscription rate.
The auction was fully subscribed: bids totalled MZN 18.1bn against MZN 17.0bn on offer, 107% of the amount sought, and MZN 7.5bn was accepted.
Over the past year the 364-day rate has ranged from 15.03% to 19.05%.
A year earlier the 364-day bill cleared at 18.05%, so the government is paying 285 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 15,200 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 115,200 after 12 months: MZN 15,200 in interest before any withholding tax, about MZN 1,267 a month.
That is the same as at the previous auction.
For shorter money: MZN 7,595 on the 182-day bill (6 months), MZN 3,748 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 | 14.990% | 15.000% | MZN 10.90bn | MZN 12.19bn | MZN 2.18bn |
| 182-day | 15.190% | 15.240% | MZN 1.80bn | MZN 1.66bn | MZN 1.03bn |
| 364-day | 15.200% | 15.200% | MZN 4.30bn | MZN 4.29bn | MZN 4.29bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 18 September 2024, compiled from the Banco de Moçambique. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2024-09-18
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