Mozambique Treasury bills · auction of 29 July 2026
Mozambique T-bill auction, 29 July 2026: 91-day at 12.32%, down 3 bps
At the Treasury bill auction dated 29 July 2026, the Banco de Moçambique cleared the 91-day bill at 12.32% (down 3 basis points) and the 182-day bill at 12.35% (up 5 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 7.7bn against MZN 7.8bn on offer, 99% of the amount sought, and MZN 7.7bn was accepted.
Over the past year the 91-day rate has ranged from 11.75% to 12.35%.
A year earlier the 91-day bill cleared at 12.52%, so the government is paying 20 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 6,175 in 6 months on the 182-day bill
Put MZN 100,000 into the 182-day bill at this auction and you get back MZN 106,175 after 6 months: MZN 6,175 in interest before any withholding tax, about MZN 1,029 a month.
That is MZN 25 more than the same money would have earned at the previous auction.
For shorter money: MZN 3,080 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 | 12.320% | 12.350% | MZN 7.60bn | MZN 7.53bn | MZN 7.53bn |
| 182-day | 12.350% | 12.300% | MZN 200m | MZN 185m | MZN 185m |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 29 July 2026, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2026-07-29
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