Malawi Treasury bills · auction of 28 November 2017
Malawi T-bill auction, 28 November 2017: 364-day at 16.00%, up 10 bps
At the Treasury bill auction dated 28 November 2017, the Reserve Bank of Malawi cleared the 91-day bill at 14.44% (up 12 basis points), the 182-day bill at 14.75% (down 4 basis points) and the 364-day bill at 16.00% (up 10 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 4.1bn and MWK 2.7bn was accepted, 67% 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 1300 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 160,000 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 1,160,000 after 12 months: MWK 160,000 in interest before any withholding tax, about MWK 13,333 a month.
That is MWK 1,000 more than the same money would have earned at the previous auction.
For shorter money: MWK 73,767 on the 182-day bill (6 months), MWK 36,101 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 | 14.440% | 14.320% | — | MWK 230m | MWK 230m |
| 182-day | 14.753% | 14.789% | — | MWK 129m | MWK 129m |
| 364-day | 16.000% | 15.900% | — | MWK 3.72bn | MWK 2.39bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 28 November 2017, compiled from the Reserve Bank of Malawi. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2017-11-28
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