Mozambique Treasury bills · auction of 8 April 2026
Mozambique T-bill auction, 8 April 2026: 364-day at 12.26%, up 1 bps
At the Treasury bill auction dated 8 April 2026, the Banco de Moçambique cleared the 91-day bill at 12.13% (down 1 basis point), the 182-day bill at 12.19% (up 2 basis points) and the 364-day bill at 12.26% (up 1 basis point). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 4.7bn against MZN 5.1bn on offer, 92% of the amount sought, and MZN 4.7bn was accepted.
Over the past year the 364-day rate has ranged from 12.15% to 13.20%.
A year earlier the 364-day bill cleared at 13.27%, so the government is paying 101 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 12,260 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 112,260 after 12 months: MZN 12,260 in interest before any withholding tax, about MZN 1,022 a month.
That is MZN 10 more than the same money would have earned at the previous auction.
For shorter money: MZN 6,095 on the 182-day bill (6 months), MZN 3,033 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 | 12.130% | 12.140% | MZN 4.00bn | MZN 3.78bn | MZN 3.78bn |
| 182-day | 12.190% | 12.170% | MZN 1.00bn | MZN 922m | MZN 922m |
| 364-day | 12.260% | 12.250% | MZN 100m | MZN 13m | MZN 13m |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 8 April 2026, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2026-04-08
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