Malawi Treasury bills · auction of 14 November 2017
Malawi T-bill auction, 14 November 2017: 364-day at 14.73%, up 44 bps
At the Treasury bill auction dated 14 November 2017, the Reserve Bank of Malawi cleared the 91-day bill at 14.32% (up 145 basis points), the 182-day bill at 14.79% (up 30 basis points) and the 364-day bill at 14.73% (up 44 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 7.1bn and MWK 2.3bn was accepted, 33% of what was bid.
Over the past year the 364-day rate has ranged from 14.29% to 26.00%.
A year earlier the 364-day bill cleared at 29.00%, so the government is paying 1427 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 147,259 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 1,147,259 after 12 months: MWK 147,259 in interest before any withholding tax, about MWK 12,272 a month.
That is MWK 4,359 more than the same money would have earned at the previous auction.
For shorter money: MWK 73,945 on the 182-day bill (6 months), MWK 35,801 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 | 14.320% | 12.868% | — | MWK 3.14bn | MWK 490m |
| 182-day | 14.789% | 14.491% | — | MWK 2.70bn | MWK 579m |
| 364-day | 14.726% | 14.290% | — | MWK 1.24bn | MWK 1.24bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 14 November 2017, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2017-11-14
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