Malawi Treasury bills · auction of 21 October 2014
Malawi T-bill auction, 21 October 2014: 91-day at 19.94%, up 112 bps
At the Treasury bill auction dated 21 October 2014, the Reserve Bank of Malawi cleared the 91-day bill at 19.94% (up 112 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 980m and MWK 979m was accepted, 100% of what was bid.
Over the past year the 91-day rate has ranged from 16.81% to 33.85%.
A year earlier the 91-day bill cleared at 15.50%, so the government is paying 444 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 49,850 in 3 months on the 91-day bill
Put MWK 1,000,000 into the 91-day bill at this auction and you get back MWK 1,049,850 after 3 months: MWK 49,850 in interest before any withholding tax, about MWK 16,617 a month.
That is MWK 2,800 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 |
|---|---|---|---|---|---|
| 91-day | 19.940% | 18.820% | — | MWK 980m | MWK 979m |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 21 October 2014, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2014-10-21
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