Malawi Treasury bills · auction of 18 November 2014
Malawi T-bill auction, 18 November 2014: 364-day at 20.50%, unchanged
At the Treasury bill auction dated 18 November 2014, the Reserve Bank of Malawi cleared the 91-day bill at 23.65% (up 371 basis points), the 182-day bill at 23.86% (up 336 basis points) and the 364-day bill at 20.50% (unchanged). The rate shown is the average yield of allotted bids.
Bids totalled MWK 5.9bn and MWK 5.9bn 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 26.56%, so the government is paying 606 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 the same as at the previous auction.
For shorter money: MWK 119,300 on the 182-day bill (6 months), MWK 59,125 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 | 23.650% | 19.940% | — | MWK 2.36bn | MWK 2.35bn |
| 182-day | 23.860% | 20.500% | — | MWK 2.91bn | MWK 2.91bn |
| 364-day | 20.500% | 20.500% | — | MWK 627m | MWK 627m |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 18 November 2014, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2014-11-18
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