Malawi Treasury bills · auction of 12 August 2014
Malawi T-bill auction, 12 August 2014: 364-day at 19.02%, up 98 bps
At the Treasury bill auction dated 12 August 2014, the Reserve Bank of Malawi cleared the 91-day bill at 16.92% (up 11 basis points) and the 364-day bill at 19.02% (up 98 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 5.9bn and MWK 5.0bn was accepted, 85% 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 1685 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 190,200 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 1,190,200 after 12 months: MWK 190,200 in interest before any withholding tax, about MWK 15,850 a month.
That is MWK 9,800 more than the same money would have earned at the previous auction.
For shorter money: MWK 42,300 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 | 16.920% | 16.810% | — | MWK 1.88bn | MWK 1.00bn |
| 364-day | 19.020% | 18.040% | — | MWK 3.97bn | MWK 3.97bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 12 August 2014, compiled from the Reserve Bank of Malawi. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2014-08-12
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