Malawi Treasury bills · auction of 9 December 2014
Malawi T-bill auction, 9 December 2014: 91-day at 26.84%, up 235 bps
At the Treasury bill auction dated 9 December 2014, the Reserve Bank of Malawi cleared the 91-day bill at 26.84% (up 235 basis points) and the 182-day bill at 24.73% (up 6 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 9.4bn and MWK 2.4bn was accepted, 26% 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 27.25%, so the government is paying 41 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 123,658 in 6 months on the 182-day bill
Put MWK 1,000,000 into the 182-day bill at this auction and you get back MWK 1,123,658 after 6 months: MWK 123,658 in interest before any withholding tax, about MWK 20,610 a month.
That is MWK 307 more than the same money would have earned at the previous auction.
For shorter money: MWK 67,094 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 | 26.838% | 24.490% | — | MWK 8.23bn | MWK 1.23bn |
| 182-day | 24.732% | 24.670% | — | MWK 1.19bn | MWK 1.19bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 9 December 2014, compiled from the Reserve Bank of Malawi. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2014-12-09
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