Malawi Treasury bills · auction of 28 February 2017
Malawi T-bill auction, 28 February 2017: 364-day at 25.35%, down 63 bps
At the Treasury bill auction dated 28 February 2017, the Reserve Bank of Malawi cleared the 91-day bill at 23.99% (up 1 basis point), the 182-day bill at 25.40% (up 6 basis points) and the 364-day bill at 25.35% (down 63 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 10.8bn and MWK 6.5bn was accepted, 61% of what was bid.
At 25.35%, the 364-day rate is the lowest in the 31 auctions of the past year.
A year earlier the 364-day bill cleared at 26.46%, so the government is paying 111 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 253,526 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 1,253,526 after 12 months: MWK 253,526 in interest before any withholding tax, about MWK 21,127 a month.
That is MWK 6,347 less than the same money would have earned at the previous auction.
For shorter money: MWK 126,995 on the 182-day bill (6 months), MWK 59,981 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 | 23.992% | 23.983% | — | MWK 312m | MWK 312m |
| 182-day | 25.399% | 25.336% | — | MWK 1.12bn | MWK 1.12bn |
| 364-day | 25.353% | 25.987% | — | MWK 9.33bn | MWK 5.10bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 28 February 2017, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2017-02-28
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