Malawi Treasury bills · auction of 23 July 2019
Malawi T-bill auction, 23 July 2019: 91-day at 9.00%, unchanged
At the Treasury bill auction dated 23 July 2019, the Reserve Bank of Malawi cleared the 91-day bill at 9.00% (unchanged) and the 182-day bill at 9.50% (unchanged). The rate shown is the average yield of allotted bids.
Bids totalled MWK 8.6bn and MWK 8.6bn was accepted, 100% of what was bid.
Over the past year the 91-day rate has ranged from 8.80% to 14.00%.
A year earlier the 91-day bill cleared at 13.99%, so the government is paying 499 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 47,500 in 6 months on the 182-day bill
Put MWK 1,000,000 into the 182-day bill at this auction and you get back MWK 1,047,500 after 6 months: MWK 47,500 in interest before any withholding tax, about MWK 7,917 a month.
That is the same as at the previous auction.
For shorter money: MWK 22,500 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 | 9.000% | 9.000% | — | MWK 966m | MWK 966m |
| 182-day | 9.500% | 9.500% | — | MWK 7.60bn | MWK 7.60bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 23 July 2019, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2019-07-23
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