Malawi Treasury bills · auction of 26 November 2019
Malawi T-bill auction, 26 November 2019: 91-day at 6.29%, up 29 bps
At the Treasury bill auction dated 26 November 2019, the Reserve Bank of Malawi cleared the 91-day bill at 6.29% (up 29 basis points) and the 182-day bill at 7.46% (up 26 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 479m and MWK 479m was accepted, 100% of what was bid.
Over the past year the 91-day rate has ranged from 6.00% to 11.42%.
A year earlier the 91-day bill cleared at 14.00%, so the government is paying 771 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 37,290 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 1,037,290 after 6 months: MWK 37,290 in interest before any withholding tax, about MWK 6,215 a month.
That is MWK 1,289 more than the same money would have earned at the previous auction.
For shorter money: MWK 15,731 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 | 6.292% | 6.000% | — | MWK 473m | MWK 473m |
| 182-day | 7.458% | 7.200% | — | MWK 6m | MWK 6m |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 26 November 2019, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2019-11-26
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