Malawi Treasury bills · auction of 22 August 2017
Malawi T-bill auction, 22 August 2017: 91-day at 16.10%, down 84 bps
At the Treasury bill auction dated 22 August 2017, the Reserve Bank of Malawi cleared the 91-day bill at 16.10% (down 84 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 2.3bn and MWK 550m was accepted, 24% of what was bid.
At 16.10%, the 91-day rate is the lowest in the 30 auctions of the past year.
A year earlier the 91-day bill cleared at 29.00%, so the government is paying 1290 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 40,261 in 3 months on the 91-day bill
Put MWK 1,000,000 into the 91-day bill at this auction and you get back MWK 1,040,261 after 3 months: MWK 40,261 in interest before any withholding tax, about MWK 13,420 a month.
That is MWK 2,088 less than the same money would have earned at the previous auction.
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 | 16.105% | 16.940% | — | MWK 2.30bn | MWK 550m |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 22 August 2017, compiled from the Reserve Bank of Malawi. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2017-08-22
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