Mozambique Treasury bills · auction of 23 December 2024
Mozambique T-bill auction, 23 December 2024: 364-day at 13.80%, unchanged
At the Treasury bill auction dated 23 December 2024, the Banco de Moçambique cleared the 91-day bill at 13.88% (up 48 basis points), the 182-day bill at 13.60% (unchanged) and the 364-day bill at 13.80% (unchanged). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 11.1bn against MZN 18.2bn on offer, 61% of the amount sought, and MZN 11.1bn was accepted.
Over the past year the 364-day rate has ranged from 13.76% to 19.05%.
A year earlier the 364-day bill cleared at 18.60%, so the government is paying 480 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 13,800 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 113,800 after 12 months: MZN 13,800 in interest before any withholding tax, about MZN 1,150 a month.
That is the same as at the previous auction.
For shorter money: MZN 6,800 on the 182-day bill (6 months), MZN 3,470 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 | 13.880% | 13.400% | MZN 10.70bn | MZN 10.46bn | MZN 10.46bn |
| 182-day | 13.600% | 13.600% | MZN 500m | MZN 212m | MZN 212m |
| 364-day | 13.800% | 13.800% | MZN 7.00bn | MZN 430m | MZN 430m |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 23 December 2024, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2024-12-23
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