Malawi Treasury bills · auction of 20 December 2016
Malawi T-bill auction, 20 December 2016: 364-day at 26.00%, up 32 bps
At the Treasury bill auction dated 20 December 2016, the Reserve Bank of Malawi cleared the 182-day bill at 25.50% (up 50 basis points) and the 364-day bill at 26.00% (up 32 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 3.9bn and MWK 3.9bn was accepted, 100% of what was bid.
Over the past year the 364-day rate has ranged from 25.50% to 29.00%.
A year earlier the 364-day bill cleared at 22.69%, so the government is paying 331 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 259,973 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 1,259,973 after 12 months: MWK 259,973 in interest before any withholding tax, about MWK 21,664 a month.
That is MWK 3,194 more than the same money would have earned at the previous auction.
For shorter money: MWK 127,500 on the 182-day bill (6 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 |
|---|---|---|---|---|---|
| 182-day | 25.500% | 24.998% | — | MWK 2.27bn | MWK 2.27bn |
| 364-day | 25.997% | 25.678% | — | MWK 1.63bn | MWK 1.63bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 20 December 2016, compiled from the Reserve Bank of Malawi. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2016-12-20
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