Malawi Treasury bills · auction of 22 March 2016
Malawi T-bill auction, 22 March 2016: 364-day at 28.35%, up 85 bps
At the Treasury bill auction dated 22 March 2016, the Reserve Bank of Malawi cleared the 91-day bill at 27.93% (up 94 basis points), the 182-day bill at 27.81% (up 81 basis points) and the 364-day bill at 28.35% (up 85 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 14.6bn and MWK 12.1bn was accepted, 83% of what was bid.
At 28.35%, the 364-day rate is the highest in the 17 auctions of the past year.
A year earlier the 364-day bill cleared at 26.81%, so the government is paying 154 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 283,523 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 1,283,523 after 12 months: MWK 283,523 in interest before any withholding tax, about MWK 23,627 a month.
That is MWK 8,523 more than the same money would have earned at the previous auction.
For shorter money: MWK 139,065 on the 182-day bill (6 months), MWK 69,835 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 | 27.934% | 26.992% | — | MWK 2.16bn | MWK 2.16bn |
| 182-day | 27.813% | 27.000% | — | MWK 5.97bn | MWK 3.47bn |
| 364-day | 28.352% | 27.500% | — | MWK 6.50bn | MWK 6.50bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 22 March 2016, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2016-03-22
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