Malawi Treasury bills · auction of 25 November 2014
Malawi T-bill auction, 25 November 2014: 364-day at 25.00%, up 450 bps
At the Treasury bill auction dated 25 November 2014, the Reserve Bank of Malawi cleared the 91-day bill at 24.49% (up 84 basis points), the 182-day bill at 24.67% (up 81 basis points) and the 364-day bill at 25.00% (up 450 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 1.7bn and MWK 1.7bn 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 156 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 250,000 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 1,250,000 after 12 months: MWK 250,000 in interest before any withholding tax, about MWK 20,833 a month.
That is MWK 45,000 more than the same money would have earned at the previous auction.
For shorter money: MWK 123,350 on the 182-day bill (6 months), MWK 61,225 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 | 24.490% | 23.650% | — | MWK 618m | MWK 618m |
| 182-day | 24.670% | 23.860% | — | MWK 361m | MWK 361m |
| 364-day | 25.000% | 20.500% | — | MWK 766m | MWK 766m |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 25 November 2014, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2014-11-25
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