Mozambique Treasury bills · auction of 31 March 2025
Mozambique T-bill auction, 31 March 2025: 182-day at 13.10%, down 30 bps
At the Treasury bill auction dated 31 March 2025, the Banco de Moçambique cleared the 182-day bill at 13.10% (down 30 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 7m against MZN 100m on offer, 7% of the amount sought, and MZN 7m was accepted.
At 13.10%, the 182-day rate is the lowest in the 42 auctions of the past year.
A year earlier the 182-day bill cleared at 18.06%, so the government is paying 496 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 6,550 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 106,550 after 6 months: MZN 6,550 in interest before any withholding tax, about MZN 1,092 a month.
That is MZN 150 less 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 | 13.100% | 13.400% | MZN 100m | MZN 7m | MZN 7m |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 31 March 2025, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2025-03-31
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