Mozambique Treasury bills · auction of 27 November 2024
Mozambique T-bill auction, 27 November 2024: 364-day at 14.41%, down 1 bps
At the Treasury bill auction dated 27 November 2024, the Banco de Moçambique cleared the 91-day bill at 14.12% (unchanged), the 182-day bill at 14.39% (unchanged) and the 364-day bill at 14.41% (down 1 basis point). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 3.6bn against MZN 4.6bn on offer, 78% of the amount sought, and MZN 3.6bn was accepted.
At 14.41%, the 364-day rate is the lowest in the 34 auctions of the past year.
A year earlier the 364-day bill cleared at 18.24%, so the government is paying 383 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 14,410 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 114,410 after 12 months: MZN 14,410 in interest before any withholding tax, about MZN 1,201 a month.
That is MZN 10 less than the same money would have earned at the previous auction.
For shorter money: MZN 7,195 on the 182-day bill (6 months), MZN 3,530 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 | 14.120% | 14.120% | MZN 700m | MZN 328m | MZN 328m |
| 182-day | 14.390% | 14.390% | MZN 2.10bn | MZN 1.75bn | MZN 1.75bn |
| 364-day | 14.410% | 14.420% | MZN 1.80bn | MZN 1.50bn | MZN 1.50bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 27 November 2024, compiled from the Banco de Moçambique. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2024-11-27
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