Mozambique Treasury bills · auction of 2 January 2025
Mozambique T-bill auction, 2 January 2025: 182-day at 13.65%, up 5 bps
At the Treasury bill auction dated 2 January 2025, the Banco de Moçambique cleared the 182-day bill at 13.65% (up 5 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 600m against MZN 1.6bn on offer, 38% of the amount sought, and MZN 600m was accepted.
Over the past year the 182-day rate has ranged from 13.60% to 18.75%.
A year earlier the 182-day bill cleared at 18.68%, so the government is paying 503 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 6,825 in 6 months on the 182-day bill
Put MZN 100,000 into the 182-day bill at this auction and you get back MZN 106,825 after 6 months: MZN 6,825 in interest before any withholding tax, about MZN 1,138 a month.
That is MZN 25 more than the same money would have earned at the previous auction.
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 |
|---|---|---|---|---|---|
| 182-day | 13.650% | 13.600% | MZN 1.60bn | MZN 600m | MZN 600m |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 2 January 2025, compiled from the Banco de Moçambique. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2025-01-02
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