Malawi Treasury bills · auction of 28 October 2014
Malawi T-bill auction, 28 October 2014: 364-day at 20.38%, down 12 bps
At the Treasury bill auction dated 28 October 2014, the Reserve Bank of Malawi cleared the 182-day bill at 20.39% (up 9 basis points) and the 364-day bill at 20.38% (down 12 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 1.1bn and MWK 853m was accepted, 77% 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 26.50%, so the government is paying 612 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 203,800 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 1,203,800 after 12 months: MWK 203,800 in interest before any withholding tax, about MWK 16,983 a month.
That is MWK 1,200 less than the same money would have earned at the previous auction.
For shorter money: MWK 101,950 on the 182-day bill (6 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 |
|---|---|---|---|---|---|
| 182-day | 20.390% | 20.300% | — | MWK 1.01bn | MWK 756m |
| 364-day | 20.380% | 20.500% | — | MWK 97m | MWK 97m |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 28 October 2014, compiled from the Reserve Bank of Malawi. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2014-10-28
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