Malawi Treasury bills · auction of 7 April 2015
Malawi T-bill auction, 7 April 2015: 364-day at 24.82%, down 199 bps
At the Treasury bill auction dated 7 April 2015, the Reserve Bank of Malawi cleared the 182-day bill at 24.52% (down 247 basis points) and the 364-day bill at 24.82% (down 199 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 13.6bn and MWK 13.6bn was accepted, 100% of what was bid.
Over the past year the 364-day rate has ranged from 18.04% to 26.99%.
A year earlier the 364-day bill cleared at 17.81%, so the government is paying 701 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 248,192 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 1,248,192 after 12 months: MWK 248,192 in interest before any withholding tax, about MWK 20,683 a month.
That is MWK 19,907 less than the same money would have earned at the previous auction.
For shorter money: MWK 122,597 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 | 24.519% | 26.994% | — | MWK 7.68bn | MWK 7.68bn |
| 364-day | 24.819% | 26.810% | — | MWK 5.90bn | MWK 5.90bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 7 April 2015, compiled from the Reserve Bank of Malawi. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2015-04-07
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