Malawi Treasury bills · auction of 21 April 2015
Malawi T-bill auction, 21 April 2015: 364-day at 25.15%, down 1 bps
At the Treasury bill auction dated 21 April 2015, the Reserve Bank of Malawi cleared the 91-day bill at 24.06% (down 282 basis points) and the 364-day bill at 25.15% (down 1 basis point). The rate shown is the average yield of allotted bids.
Bids totalled MWK 19.1bn and MWK 19.1bn 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 17.89%, so the government is paying 726 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 251,452 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 1,251,452 after 12 months: MWK 251,452 in interest before any withholding tax, about MWK 20,954 a month.
That is MWK 54 less than the same money would have earned at the previous auction.
For shorter money: MWK 60,144 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 | 24.058% | 26.880% | — | MWK 5.35bn | MWK 5.35bn |
| 364-day | 25.145% | 25.151% | — | MWK 13.73bn | MWK 13.73bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 21 April 2015, compiled from the Reserve Bank of Malawi. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2015-04-21
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