Malawi Treasury bills · auction of 26 August 2014
Malawi T-bill auction, 26 August 2014: 364-day at 20.50%, up 132 bps
At the Treasury bill auction dated 26 August 2014, the Reserve Bank of Malawi cleared the 91-day bill at 18.36% (up 144 basis points), the 182-day bill at 19.28% (up 137 basis points) and the 364-day bill at 20.50% (up 132 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 13.5bn and MWK 7.7bn was accepted, 57% 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 1537 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 205,000 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 1,205,000 after 12 months: MWK 205,000 in interest before any withholding tax, about MWK 17,083 a month.
That is MWK 13,200 more than the same money would have earned at the previous auction.
For shorter money: MWK 96,400 on the 182-day bill (6 months), MWK 45,900 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 | 18.360% | 16.920% | — | MWK 5.05bn | MWK 4.51bn |
| 182-day | 19.280% | 17.910% | — | MWK 1.98bn | MWK 1.48bn |
| 364-day | 20.500% | 19.180% | — | MWK 6.52bn | MWK 1.75bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 26 August 2014, compiled from the Reserve Bank of Malawi. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2014-08-26
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