At the Treasury bill auction dated 14 October 2026, the Banco de Moçambique cleared the 91-day bill at 12.18% (up 4 basis points) and the 182-day bill at 12.15% (unchanged). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 7.0bn against MZN 7.1bn on offer, 99% of the amount sought, and MZN 7.0bn 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 11.82%, so the government is paying 36 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 6,075 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 106,075 after 6 months: MZN 6,075 in interest before any withholding tax, about MZN 1,013 a month.
That is the same as at the previous auction.
For shorter money: MZN 3,045 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 | 12.180% | 12.140% | MZN 6.40bn | MZN 6.40bn | MZN 6.40bn |
| 182-day | 12.150% | 12.150% | MZN 700m | MZN 623m | MZN 623m |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 14 October 2026, compiled from the Banco de Moçambique. Retrieved 4 November 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2026-10-14
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