Malawi Treasury bills · auction of 31 October 2017
Malawi T-bill auction, 31 October 2017: 364-day at 14.29%, down 469 bps
At the Treasury bill auction dated 31 October 2017, the Reserve Bank of Malawi cleared the 91-day bill at 12.87% (down 324 basis points), the 182-day bill at 14.18% (down 133 basis points) and the 364-day bill at 14.29% (down 469 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 5.5bn and MWK 5.5bn was accepted, 100% of what was bid.
At 14.29%, the 364-day rate is the lowest in the 20 auctions of the past year.
A year earlier the 364-day bill cleared at 29.00%, so the government is paying 1471 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 142,900 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 1,142,900 after 12 months: MWK 142,900 in interest before any withholding tax, about MWK 11,908 a month.
That is MWK 46,950 less than the same money would have earned at the previous auction.
For shorter money: MWK 70,885 on the 182-day bill (6 months), MWK 32,169 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 | 12.868% | 16.105% | — | MWK 1.29bn | MWK 1.29bn |
| 182-day | 14.177% | 15.505% | — | MWK 374m | MWK 374m |
| 364-day | 14.290% | 18.985% | — | MWK 3.80bn | MWK 3.80bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 31 October 2017, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2017-10-31
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