Mozambique Treasury bills · auction of 22 July 2026
Mozambique T-bill auction, 22 July 2026: 364-day at 12.27%, up 1 bps
At the Treasury bill auction dated 22 July 2026, the Banco de Moçambique cleared the 91-day bill at 12.35% (up 1 basis point), the 182-day bill at 12.30% (up 4 basis points) and the 364-day bill at 12.27% (up 1 basis point). 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.
Over the past year the 364-day rate has ranged from 12.15% to 12.99%.
A year earlier the 364-day bill cleared at 13.00%, so the government is paying 73 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 12,270 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 112,270 after 12 months: MZN 12,270 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 6,150 on the 182-day bill (6 months), MZN 3,088 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 | 12.350% | 12.340% | MZN 2.00bn | MZN 1.98bn | MZN 1.98bn |
| 182-day | 12.300% | 12.260% | MZN 300m | MZN 213m | MZN 213m |
| 364-day | 12.270% | 12.260% | MZN 100m | MZN 62m | MZN 62m |
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, 22 July 2026, compiled from the Banco de Moçambique. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2026-07-22
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.