Malawi Treasury bills · auction of 8 September 2015
Malawi T-bill auction, 8 September 2015: 364-day at 20.83%, down 275 bps
At the Treasury bill auction dated 8 September 2015, the Reserve Bank of Malawi cleared the 182-day bill at 19.73% (down 518 basis points) and the 364-day bill at 20.83% (down 275 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 12.1bn and MWK 11.7bn was accepted, 97% of what was bid.
Over the past year the 364-day rate has ranged from 20.27% to 26.99%.
A year earlier the 364-day bill cleared at 20.50%, so the government is paying 33 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 208,259 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 1,208,259 after 12 months: MWK 208,259 in interest before any withholding tax, about MWK 17,355 a month.
That is MWK 27,480 less than the same money would have earned at the previous auction.
For shorter money: MWK 98,628 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 | 19.726% | 24.905% | — | MWK 9.33bn | MWK 8.96bn |
| 364-day | 20.826% | 23.574% | — | MWK 2.76bn | MWK 2.76bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 8 September 2015, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2015-09-08
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