Malawi Treasury bills · auction of 2 March 2015
Malawi T-bill auction, 2 March 2015: 364-day at 26.81%, down 8 bps
At the Treasury bill auction dated 2 March 2015, the Reserve Bank of Malawi cleared the 91-day bill at 26.65% (down 29 basis points), the 182-day bill at 26.99% (up 52 basis points) and the 364-day bill at 26.81% (down 8 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 15.6bn and MWK 15.6bn was accepted, 100% of what was bid.
Over the past year the 364-day rate has ranged from 17.81% to 26.99%.
A year earlier the 364-day bill cleared at 35.90%, so the government is paying 909 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 268,099 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 1,268,099 after 12 months: MWK 268,099 in interest before any withholding tax, about MWK 22,342 a month.
That is MWK 751 less than the same money would have earned at the previous auction.
For shorter money: MWK 134,969 on the 182-day bill (6 months), MWK 66,637 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 | 26.655% | 26.943% | — | MWK 2.32bn | MWK 2.32bn |
| 182-day | 26.994% | 26.472% | — | MWK 7.02bn | MWK 7.02bn |
| 364-day | 26.810% | 26.885% | — | MWK 6.22bn | MWK 6.22bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 2 March 2015, compiled from the Reserve Bank of Malawi. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2015-03-02
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