Mozambique Treasury bills · auction of 24 June 2025
Mozambique T-bill auction, 24 June 2025: 364-day at 13.00%, up 11 bps
At the Treasury bill auction dated 24 June 2025, the Banco de Moçambique cleared the 91-day bill at 12.55% (unchanged), the 182-day bill at 12.85% (unchanged) and the 364-day bill at 13.00% (up 11 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 1.5bn against MZN 1.8bn on offer, 82% of the amount sought, and MZN 1.5bn was accepted.
Over the past year the 364-day rate has ranged from 12.87% to 16.44%.
A year earlier the 364-day bill cleared at 16.96%, so the government is paying 396 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 13,000 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 113,000 after 12 months: MZN 13,000 in interest before any withholding tax, about MZN 1,083 a month.
That is MZN 110 more than the same money would have earned at the previous auction.
For shorter money: MZN 6,425 on the 182-day bill (6 months), MZN 3,138 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 | 12.550% | 12.550% | MZN 600m | MZN 458m | MZN 458m |
| 182-day | 12.850% | 12.850% | MZN 100m | MZN 13m | MZN 13m |
| 364-day | 13.000% | 12.890% | MZN 1.10bn | MZN 1.00bn | MZN 1.00bn |
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, 24 June 2025, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2025-06-24
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.