Malawi Treasury bills · auction of 5 August 2014
Malawi T-bill auction, 5 August 2014: 364-day at 18.04%, down 834 bps
At the Treasury bill auction dated 5 August 2014, the Reserve Bank of Malawi cleared the 91-day bill at 16.81% (down 376 basis points), the 182-day bill at 17.85% (down 898 basis points) and the 364-day bill at 18.04% (down 834 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 9.1bn and MWK 9.1bn was accepted, 100% of what was bid.
Over the past year the 364-day rate has ranged from 17.81% to 36.52%.
A year earlier the 364-day bill cleared at 35.87%, so the government is paying 1783 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 180,400 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 1,180,400 after 12 months: MWK 180,400 in interest before any withholding tax, about MWK 15,033 a month.
That is MWK 83,400 less than the same money would have earned at the previous auction.
For shorter money: MWK 89,250 on the 182-day bill (6 months), MWK 42,025 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 | 16.810% | 20.570% | — | MWK 2.74bn | MWK 2.74bn |
| 182-day | 17.850% | 26.830% | — | MWK 1.69bn | MWK 1.69bn |
| 364-day | 18.040% | 26.380% | — | MWK 4.64bn | MWK 4.64bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 5 August 2014, compiled from the Reserve Bank of Malawi. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2014-08-05
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