Malawi Treasury bills · auction of 23 February 2016
Malawi T-bill auction, 23 February 2016: 364-day at 26.46%, up 37 bps
At the Treasury bill auction dated 23 February 2016, the Reserve Bank of Malawi cleared the 91-day bill at 26.07% (up 55 basis points), the 182-day bill at 26.61% (up 71 basis points) and the 364-day bill at 26.46% (up 37 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 9.0bn and MWK 9.0bn was accepted, 100% of what was bid.
Over the past year the 364-day rate has ranged from 20.83% to 26.81%.
A year earlier the 364-day bill cleared at 26.89%, so the government is paying 42 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 264,643 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 1,264,643 after 12 months: MWK 264,643 in interest before any withholding tax, about MWK 22,054 a month.
That is MWK 3,673 more than the same money would have earned at the previous auction.
For shorter money: MWK 133,033 on the 182-day bill (6 months), MWK 65,174 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 | 26.070% | 25.521% | — | MWK 2.72bn | MWK 2.72bn |
| 182-day | 26.607% | 25.898% | — | MWK 2.48bn | MWK 2.48bn |
| 364-day | 26.464% | 26.097% | — | MWK 3.77bn | MWK 3.77bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 23 February 2016, compiled from the Reserve Bank of Malawi. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2016-02-23
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