Malawi Treasury bills · auction of 9 May 2017
Malawi T-bill auction, 9 May 2017: 364-day at 23.30%, down 16 bps
At the Treasury bill auction dated 9 May 2017, the Reserve Bank of Malawi cleared the 91-day bill at 21.38% (up 7 basis points) and the 364-day bill at 23.30% (down 16 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 10.7bn and MWK 4.6bn was accepted, 42% 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 28.98%, so the government is paying 568 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 233,000 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 1,233,000 after 12 months: MWK 233,000 in interest before any withholding tax, about MWK 19,417 a month.
That is MWK 1,589 less than the same money would have earned at the previous auction.
For shorter money: MWK 53,452 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 | 21.381% | 21.316% | — | MWK 358m | MWK 358m |
| 364-day | 23.300% | 23.459% | — | MWK 10.39bn | MWK 4.21bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 9 May 2017, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2017-05-09
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