Malawi Treasury bills · auction of 1 August 2017
Malawi T-bill auction, 1 August 2017: 364-day at 18.98%, down 370 bps
At the Treasury bill auction dated 1 August 2017, the Reserve Bank of Malawi cleared the 91-day bill at 16.94% (up 5 basis points) and the 364-day bill at 18.98% (down 370 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 12.4bn and MWK 1.2bn was accepted, 10% of what was bid.
At 18.98%, the 364-day rate is the lowest in the 25 auctions of the past year.
A year earlier the 364-day bill cleared at 29.00%, so the government is paying 1001 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 189,850 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 1,189,850 after 12 months: MWK 189,850 in interest before any withholding tax, about MWK 15,821 a month.
That is MWK 37,001 less than the same money would have earned at the previous auction.
For shorter money: MWK 42,350 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 | 16.940% | 16.890% | — | MWK 1.24bn | MWK 1.24bn |
| 364-day | 18.985% | 22.685% | — | MWK 11.18bn | MWK 2m |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 1 August 2017, compiled from the Reserve Bank of Malawi. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2017-08-01
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