Malawi Treasury bills · auction of 4 April 2017
Malawi T-bill auction, 4 April 2017: 364-day at 23.00%, down 235 bps
At the Treasury bill auction dated 4 April 2017, the Reserve Bank of Malawi cleared the 91-day bill at 21.00% (down 300 basis points), the 182-day bill at 22.00% (down 340 basis points) and the 364-day bill at 23.00% (down 235 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 3.1bn and MWK 3.1bn was accepted, 100% of what was bid.
At 23.00%, the 364-day rate is the lowest in the 28 auctions of the past year.
A year earlier the 364-day bill cleared at 28.38%, so the government is paying 538 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 230,000 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 1,230,000 after 12 months: MWK 230,000 in interest before any withholding tax, about MWK 19,167 a month.
That is MWK 23,521 less than the same money would have earned at the previous auction.
For shorter money: MWK 110,000 on the 182-day bill (6 months), MWK 52,500 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 | 21.000% | 23.999% | — | MWK 70m | MWK 70m |
| 182-day | 22.000% | 25.399% | — | MWK 710m | MWK 710m |
| 364-day | 23.000% | 25.352% | — | MWK 2.30bn | MWK 2.30bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 4 April 2017, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2017-04-04
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