Mozambique Treasury bills · auction of 13 August 2025
Mozambique T-bill auction, 13 August 2025: 364-day at 12.20%, down 12 bps
At the Treasury bill auction dated 13 August 2025, the Banco de Moçambique cleared the 91-day bill at 11.80% (unchanged), the 182-day bill at 12.23% (unchanged) and the 364-day bill at 12.20% (down 12 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 2.3bn against MZN 2.4bn on offer, 94% of the amount sought, and MZN 2.3bn was accepted.
At 12.20%, the 364-day rate is the lowest in the 52 auctions of the past year.
A year earlier the 364-day bill cleared at 15.09%, so the government is paying 289 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 12,200 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 112,200 after 12 months: MZN 12,200 in interest before any withholding tax, about MZN 1,017 a month.
That is MZN 120 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% | 11.800% | MZN 1.60bn | MZN 1.55bn | MZN 1.55bn |
| 182-day | 12.230% | 12.230% | MZN 700m | MZN 700m | MZN 700m |
| 364-day | 12.200% | 12.320% | MZN 100m | MZN 8m | MZN 8m |
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, 13 August 2025, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2025-08-13
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.