Mozambique Treasury bills · auction of 6 August 2025
Mozambique T-bill auction, 6 August 2025: 364-day at 12.32%, down 67 bps
At the Treasury bill auction dated 6 August 2025, the Banco de Moçambique cleared the 91-day bill at 11.80% (down 72 basis points), the 182-day bill at 12.23% (down 62 basis points) and the 364-day bill at 12.32% (down 67 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 5.7bn against MZN 5.9bn on offer, 97% of the amount sought, and MZN 5.2bn was accepted.
At 12.32%, the 364-day rate is the lowest in the 51 auctions of the past year.
A year earlier the 364-day bill cleared at 16.40%, so the government is paying 408 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 12,320 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 112,320 after 12 months: MZN 12,320 in interest before any withholding tax, about MZN 1,027 a month.
That is MZN 670 less than the same money would have earned at the previous auction.
For shorter money: MZN 6,115 on the 182-day bill (6 months), MZN 2,950 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 | 11.800% | 12.520% | MZN 1.40bn | MZN 1.33bn | MZN 828m |
| 182-day | 12.230% | 12.850% | MZN 4.30bn | MZN 4.21bn | MZN 4.17bn |
| 364-day | 12.320% | 12.990% | MZN 200m | MZN 173m | MZN 173m |
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, 6 August 2025, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2025-08-06
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.