Malawi Treasury bills · auction of 11 December 2018
Malawi T-bill auction, 11 December 2018: 364-day at 14.00%, unchanged
At the Treasury bill auction dated 11 December 2018, the Reserve Bank of Malawi cleared the 364-day bill at 14.00% (unchanged). The rate shown is the average yield of allotted bids.
Bids totalled MWK 3.0bn and MWK 3.0bn was accepted, 100% of what was bid.
At 14.00%, the 364-day rate is the lowest in the 61 auctions of the past year.
A year earlier the 364-day bill cleared at 16.00%, so the government is paying 200 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 140,000 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 1,140,000 after 12 months: MWK 140,000 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 |
|---|---|---|---|---|---|
| 364-day | 14.000% | 14.000% | — | MWK 3.04bn | MWK 3.04bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 11 December 2018, compiled from the Reserve Bank of Malawi. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2018-12-11
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