Malawi Treasury bills · auction of 1 July 2015
Malawi T-bill auction, 1 July 2015: 91-day at 24.77%, down 56 bps
At the Treasury bill auction dated 1 July 2015, the Reserve Bank of Malawi cleared the 91-day bill at 24.77% (down 56 basis points) and the 182-day bill at 24.91% (down 28 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 4.0bn and MWK 3.5bn was accepted, 88% of what was bid.
Over the past year the 91-day rate has ranged from 16.81% to 26.94%.
A year earlier the 91-day bill cleared at 20.57%, so the government is paying 420 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 124,526 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 1,124,526 after 6 months: MWK 124,526 in interest before any withholding tax, about MWK 20,754 a month.
That is MWK 1,387 less than the same money would have earned at the previous auction.
For shorter money: MWK 61,918 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 | 24.767% | 25.328% | — | MWK 2.15bn | MWK 1.65bn |
| 182-day | 24.905% | 25.183% | — | MWK 1.87bn | MWK 1.87bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 1 July 2015, compiled from the Reserve Bank of Malawi. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2015-07-01
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