Malawi Treasury bills · auction of 31 December 2013
Malawi T-bill auction, 31 December 2013: 364-day at 35.90%, down 62 bps
At the Treasury bill auction dated 31 December 2013, the Reserve Bank of Malawi cleared the 91-day bill at 33.85% (up 246 basis points) and the 364-day bill at 35.90% (down 62 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 1.7bn and MWK 1.4bn was accepted, 82% of what was bid.
Over the past year the 364-day rate has ranged from 20.33% to 36.52%.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 359,000 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 1,359,000 after 12 months: MWK 359,000 in interest before any withholding tax, about MWK 29,917 a month.
That is MWK 6,200 less than the same money would have earned at the previous auction.
For shorter money: MWK 84,625 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 | 33.850% | 31.390% | — | MWK 535m | MWK 240m |
| 364-day | 35.900% | 36.520% | — | MWK 1.12bn | MWK 1.12bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 31 December 2013, compiled from the Reserve Bank of Malawi. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2013-12-31
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