Mozambique Treasury bills · auction of 30 October 2024
Mozambique T-bill auction, 30 October 2024: 364-day at 14.42%, down 1 bps
At the Treasury bill auction dated 30 October 2024, the Banco de Moçambique cleared the 91-day bill at 14.18% (down 1 basis point), the 182-day bill at 14.40% (down 2 basis points) and the 364-day bill at 14.42% (down 1 basis point). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 2.7bn against MZN 2.8bn on offer, 98% of the amount sought, and MZN 2.7bn was accepted.
At 14.42%, the 364-day rate is the lowest in the 32 auctions of the past year.
A year earlier the 364-day bill cleared at 18.22%, so the government is paying 380 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 14,420 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 114,420 after 12 months: MZN 14,420 in interest before any withholding tax, about MZN 1,202 a month.
That is MZN 10 less than the same money would have earned at the previous auction.
For shorter money: MZN 7,200 on the 182-day bill (6 months), MZN 3,545 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 | 14.180% | 14.190% | MZN 500m | MZN 432m | MZN 432m |
| 182-day | 14.400% | 14.420% | MZN 700m | MZN 724m | MZN 700m |
| 364-day | 14.420% | 14.430% | MZN 1.60bn | MZN 1.57bn | MZN 1.57bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 30 October 2024, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2024-10-30
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