Malawi Treasury bills · auction of 21 May 2014
Malawi T-bill auction, 21 May 2014: 364-day at 26.38%, up 117 bps
At the Treasury bill auction dated 21 May 2014, the Reserve Bank of Malawi cleared the 91-day bill at 20.85% (down 1300 basis points), the 182-day bill at 26.83% (up 6 basis points) and the 364-day bill at 26.38% (up 117 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 5.4bn and MWK 3.1bn was accepted, 59% 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 263,800 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 1,263,800 after 12 months: MWK 263,800 in interest before any withholding tax, about MWK 21,983 a month.
That is MWK 11,700 more than the same money would have earned at the previous auction.
For shorter money: MWK 134,150 on the 182-day bill (6 months), MWK 52,125 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 | 20.850% | 33.850% | — | MWK 104m | MWK 70m |
| 182-day | 26.830% | 26.770% | — | MWK 1.96bn | MWK 1.21bn |
| 364-day | 26.380% | 25.210% | — | MWK 3.30bn | MWK 1.87bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 21 May 2014, compiled from the Reserve Bank of Malawi. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2014-05-21
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