Malawi Treasury bills · auction of 10 December 2013
Malawi T-bill auction, 10 December 2013: 364-day at 36.52%, up 209 bps
At the Treasury bill auction dated 10 December 2013, the Reserve Bank of Malawi cleared the 91-day bill at 31.81% (up 456 basis points) and the 364-day bill at 36.52% (up 209 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 4.3bn and MWK 2.1bn was accepted, 47% of what was bid.
At 36.52%, the 364-day rate is the highest in the 10 auctions of the past year.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 365,200 in 12 months on the 364-day bill
Put MWK 1,000,000 into the 364-day bill at this auction and you get back MWK 1,365,200 after 12 months: MWK 365,200 in interest before any withholding tax, about MWK 30,433 a month.
That is MWK 20,900 more than the same money would have earned at the previous auction.
For shorter money: MWK 79,525 on the 91-day bill (3 months).
The government pays the full amount at maturity; the risk is Malawi’s government not paying, and the money is locked until then.
Results
By tenor
| Tenor | Rate | Previous | Offered | Bids | Accepted |
|---|---|---|---|---|---|
| 91-day | 31.810% | 27.250% | — | MWK 855m | MWK 557m |
| 364-day | 36.520% | 34.430% | — | MWK 3.48bn | MWK 1.50bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 10 December 2013, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2013-12-10
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