Malawi Treasury bills · auction of 5 April 2016
Malawi T-bill auction, 5 April 2016: 364-day at 28.46%, up 8 bps
At the Treasury bill auction dated 5 April 2016, the Reserve Bank of Malawi cleared the 91-day bill at 27.69% (down 24 basis points), the 182-day bill at 28.04% (up 22 basis points) and the 364-day bill at 28.46% (up 8 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 9.3bn and MWK 9.3bn was accepted, 100% of what was bid.
At 28.46%, the 364-day rate is the highest in the 18 auctions of the past year.
A year earlier the 364-day bill cleared at 26.81%, so the government is paying 165 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 284,608 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 1,284,608 after 12 months: MWK 284,608 in interest before any withholding tax, about MWK 23,717 a month.
That is MWK 843 more than the same money would have earned at the previous auction.
For shorter money: MWK 140,178 on the 182-day bill (6 months), MWK 69,228 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 | 27.691% | 27.934% | — | MWK 8.59bn | MWK 8.59bn |
| 182-day | 28.036% | 27.813% | — | MWK 416m | MWK 416m |
| 364-day | 28.461% | 28.377% | — | MWK 280m | MWK 280m |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 5 April 2016, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2016-04-05
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