Mozambique Treasury bills · auction of 19 March 2025
Mozambique T-bill auction, 19 March 2025: 364-day at 13.26%, unchanged
At the Treasury bill auction dated 19 March 2025, the Banco de Moçambique cleared the 91-day bill at 13.06% (up 1 basis point), the 182-day bill at 13.19% (unchanged) and the 364-day bill at 13.26% (unchanged). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 12.6bn against MZN 12.8bn on offer, 98% of the amount sought, and MZN 12.6bn was accepted.
Over the past year the 364-day rate has ranged from 13.25% to 18.37%.
A year earlier the 364-day bill cleared at 18.30%, so the government is paying 504 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 13,260 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 113,260 after 12 months: MZN 13,260 in interest before any withholding tax, about MZN 1,105 a month.
That is the same as at the previous auction.
For shorter money: MZN 6,595 on the 182-day bill (6 months), MZN 3,265 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 | 13.060% | 13.050% | MZN 7.40bn | MZN 7.45bn | MZN 7.40bn |
| 182-day | 13.190% | 13.190% | MZN 1.60bn | MZN 1.57bn | MZN 1.57bn |
| 364-day | 13.260% | 13.260% | MZN 3.80bn | MZN 3.59bn | MZN 3.59bn |
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, 19 March 2025, compiled from the Banco de Moçambique. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2025-03-19
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.