Malawi Treasury bills · auction of 22 April 2014
Malawi T-bill auction, 22 April 2014: 364-day at 20.30%, up 241 bps
At the Treasury bill auction dated 22 April 2014, the Reserve Bank of Malawi cleared the 364-day bill at 20.30% (up 241 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 4.1bn and MWK 4.1bn was accepted, 100% of what was bid.
Over the past year the 364-day rate has ranged from 17.81% to 36.52%.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 203,000 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 1,203,000 after 12 months: MWK 203,000 in interest before any withholding tax, about MWK 16,917 a month.
That is MWK 24,100 more than the same money would have earned at the previous auction.
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 |
|---|---|---|---|---|---|
| 364-day | 20.300% | 17.890% | — | MWK 4.09bn | MWK 4.09bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 22 April 2014, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2014-04-22
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