Mozambique: prime rate stays at 15.50% for November

The benchmark for variable-rate loans is being renewed. The rate charged to each borrower also depends on the bank margin.

By Chantal Hounkpatin · 9 November 2026 · 1 min read

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The prime rate of Mozambique’s banking system remains at 15.50% for November 2026, according to a Mozambique Banks Association notice published by the Bank of Mozambique on 30 October. The benchmark is used for variable-rate lending.

It consists of a 9.30% index calculated by the central bank and a 6.20% cost premium calculated by the banking association. The index is based on overnight interbank money-market transactions, while the cost premium reflects risks in the banking system.

For new loans, renewals and renegotiations, banks add or subtract a spread according to the credit risk and the borrower’s circumstances. The 15.50% benchmark therefore does not automatically represent the interest rate charged to each customer.

The notice also sets out standardised spreads by bank and lending category, including mortgages, consumer credit, business loans and leasing. Institutions can apply their own terms after reviewing the borrower’s application.

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