Malawi Treasury bills · auction of 3 May 2018
Malawi T-bill auction, 3 May 2018: 91-day at 14.00%, unchanged
At the Treasury bill auction dated 3 May 2018, the Reserve Bank of Malawi cleared the 91-day bill at 14.00% (unchanged). The rate shown is the average yield of allotted bids.
Bids totalled MWK 215m and MWK 215m was accepted, 100% of what was bid.
Over the past year the 91-day rate has ranged from 12.87% to 21.38%.
A year earlier the 91-day bill cleared at 21.32%, so the government is paying 732 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 35,000 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 1,035,000 after 3 months: MWK 35,000 in interest before any withholding tax, about MWK 11,667 a month.
That is the same as 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 | 14.000% | 14.000% | — | MWK 215m | MWK 215m |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 3 May 2018, compiled from the Reserve Bank of Malawi. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2018-05-03
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