Mozambique Treasury bills · auction of 24 September 2024
Mozambique T-bill auction, 24 September 2024: 364-day at 15.21%, up 1 bps
At the Treasury bill auction dated 24 September 2024, the Banco de Moçambique cleared the 91-day bill at 14.99% (unchanged), the 182-day bill at 15.20% (up 1 basis point) and the 364-day bill at 15.21% (up 1 basis point). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 15.8bn against MZN 16.7bn on offer, 95% of the amount sought, and MZN 14.7bn 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 18.12%, so the government is paying 291 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 15,210 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 115,210 after 12 months: MZN 15,210 in interest before any withholding tax, about MZN 1,268 a month.
That is MZN 10 more than the same money would have earned at the previous auction.
For shorter money: MZN 7,600 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% | 14.990% | MZN 11.50bn | MZN 11.36bn | MZN 11.36bn |
| 182-day | 15.200% | 15.190% | MZN 1.50bn | MZN 1.39bn | MZN 310m |
| 364-day | 15.210% | 15.200% | MZN 3.70bn | MZN 3.04bn | MZN 3.04bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 24 September 2024, compiled from the Banco de Moçambique. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2024-09-24
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