Malawi Treasury bills · auction of 29 September 2015
Malawi T-bill auction, 29 September 2015: 91-day at 19.20%, down 557 bps
At the Treasury bill auction dated 29 September 2015, the Reserve Bank of Malawi cleared the 91-day bill at 19.20% (down 557 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 13.3bn and MWK 5.0bn was accepted, 37% of what was bid.
Over the past year the 91-day rate has ranged from 18.82% to 26.94%.
A year earlier the 91-day bill cleared at 18.36%, so the government is paying 84 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 47,992 in 3 months on the 91-day bill
Put MWK 1,000,000 into the 91-day bill at this auction and you get back MWK 1,047,992 after 3 months: MWK 47,992 in interest before any withholding tax, about MWK 15,997 a month.
That is MWK 13,927 less than the same money would have earned at the previous auction.
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 | 19.197% | 24.767% | — | MWK 13.31bn | MWK 4.97bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 29 September 2015, compiled from the Reserve Bank of Malawi. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2015-09-29
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