Malawi Treasury bills · auction of 25 April 2017
Malawi T-bill auction, 25 April 2017: 364-day at 23.46%, up 14 bps
At the Treasury bill auction dated 25 April 2017, the Reserve Bank of Malawi cleared the 91-day bill at 21.32% (up 32 basis points) and the 364-day bill at 23.46% (up 14 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 4.2bn and MWK 3.0bn was accepted, 72% of what was bid.
Over the past year the 364-day rate has ranged from 23.00% to 29.00%.
A year earlier the 364-day bill cleared at 28.42%, so the government is paying 496 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 234,589 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 1,234,589 after 12 months: MWK 234,589 in interest before any withholding tax, about MWK 19,549 a month.
That is MWK 1,450 more than the same money would have earned at the previous auction.
For shorter money: MWK 53,289 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 | 21.316% | 21.000% | — | MWK 1.05bn | MWK 1.05bn |
| 364-day | 23.459% | 23.314% | — | MWK 3.12bn | MWK 1.95bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 25 April 2017, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2017-04-25
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