Malawi Treasury bills · auction of 20 September 2016
Malawi T-bill auction, 20 September 2016: 364-day at 28.43%, down 57 bps
At the Treasury bill auction dated 20 September 2016, the Reserve Bank of Malawi cleared the 91-day bill at 29.00% (unchanged), the 182-day bill at 29.00% (unchanged) and the 364-day bill at 28.43% (down 57 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 7.1bn and MWK 7.1bn was accepted, 100% of what was bid.
Over the past year the 364-day rate has ranged from 22.69% to 29.00%.
A year earlier the 364-day bill cleared at 20.83%, so the government is paying 760 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 284,273 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 1,284,273 after 12 months: MWK 284,273 in interest before any withholding tax, about MWK 23,689 a month.
That is MWK 5,727 less 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 72,500 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 | 29.000% | 28.998% | — | MWK 3.91bn | MWK 3.91bn |
| 182-day | 29.000% | 29.000% | — | MWK 2.02bn | MWK 2.02bn |
| 364-day | 28.427% | 29.000% | — | MWK 1.20bn | MWK 1.20bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 20 September 2016, compiled from the Reserve Bank of Malawi. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2016-09-20
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