Malawi Treasury bills · auction of 3 May 2016
Malawi T-bill auction, 3 May 2016: 364-day at 28.98%, up 18 bps
At the Treasury bill auction dated 3 May 2016, the Reserve Bank of Malawi cleared the 91-day bill at 28.50% (up 3 basis points), the 182-day bill at 29.00% (up 44 basis points) and the 364-day bill at 28.98% (up 18 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 4.0bn and MWK 4.0bn was accepted, 100% of what was bid.
At 28.98%, the 364-day rate is the highest in the 18 auctions of the past year.
A year earlier the 364-day bill cleared at 25.17%, so the government is paying 381 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 289,850 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 1,289,850 after 12 months: MWK 289,850 in interest before any withholding tax, about MWK 24,154 a month.
That is MWK 1,850 more than the same money would have earned at the previous auction.
For shorter money: MWK 145,000 on the 182-day bill (6 months), MWK 71,248 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 | 28.499% | 28.471% | — | MWK 1.49bn | MWK 1.49bn |
| 182-day | 29.000% | 28.560% | — | MWK 1.80bn | MWK 1.80bn |
| 364-day | 28.985% | 28.800% | — | MWK 743m | MWK 743m |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 3 May 2016, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2016-05-03
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