Mozambique Treasury bills · auction of 8 January 2025
Mozambique T-bill auction, 8 January 2025: 364-day at 13.79%, down 1 bps
At the Treasury bill auction dated 8 January 2025, the Banco de Moçambique cleared the 91-day bill at 13.70% (down 9 basis points), the 182-day bill at 13.60% (down 5 basis points) and the 364-day bill at 13.79% (down 1 basis point). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 4.3bn against MZN 4.4bn on offer, 97% of the amount sought, and MZN 4.2bn 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 18.94%, so the government is paying 515 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 13,790 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 113,790 after 12 months: MZN 13,790 in interest before any withholding tax, about MZN 1,149 a month.
That is MZN 10 less than the same money would have earned at the previous auction.
For shorter money: MZN 6,800 on the 182-day bill (6 months), MZN 3,425 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 | 13.700% | 13.790% | MZN 2.00bn | MZN 2.03bn | MZN 2.00bn |
| 182-day | 13.600% | 13.650% | MZN 1.40bn | MZN 1.31bn | MZN 1.31bn |
| 364-day | 13.790% | 13.800% | MZN 1.00bn | MZN 921m | MZN 921m |
Source: Banco de Moçambique result · weighted average subscription rate
Cite or reuse this data
Free to quote, chart and republish with the credit “Source: Afronomics, compiled from the Banco de Moçambique” and a link to this page.
Afronomics (2026). Mozambique Treasury bill auction, 8 January 2025, compiled from the Banco de Moçambique. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2025-01-08
Free, every weekday at 7:00
The Afronomics Morning
Africa’s markets before 7am: the currencies that moved overnight, the auction results that landed, what is due today and the headlines that matter. Plus the Weekly every Monday.