Malawi Treasury bills · auction of 24 March 2020
Malawi T-bill auction, 24 March 2020: 364-day at 11.89%, up 104 bps
At the Treasury bill auction dated 24 March 2020, the Reserve Bank of Malawi cleared the 91-day bill at 7.51% (down 1 basis point) and the 364-day bill at 11.89% (up 104 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 8.8bn and MWK 7.8bn was accepted, 89% of what was bid.
At 11.89%, the 364-day rate is the highest in the 28 auctions of the past year.
A year earlier the 364-day bill cleared at 11.50%, so the government is paying 39 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 118,864 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 1,118,864 after 12 months: MWK 118,864 in interest before any withholding tax, about MWK 9,905 a month.
That is MWK 10,387 more than the same money would have earned at the previous auction.
For shorter money: MWK 18,765 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 | 7.506% | 7.511% | — | MWK 558m | MWK 558m |
| 364-day | 11.886% | 10.848% | — | MWK 8.26bn | MWK 7.26bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
Cite or reuse this data
Free to quote, chart and republish with the credit “Source: Afronomics, compiled from the Reserve Bank of Malawi” and a link to this page.
Afronomics (2026). Malawi Treasury bill auction, 24 March 2020, compiled from the Reserve Bank of Malawi. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2020-03-24
Free, every weekday at 7:00
The Afronomics Morning
Africa’s markets before 7am: the currencies that moved overnight, the auction results that landed, what is due today and the headlines that matter. Plus the Weekly every Monday.