Malawi Treasury bills · auction of 2 June 2020
Malawi T-bill auction, 2 June 2020: 364-day at 12.80%, unchanged
At the Treasury bill auction dated 2 June 2020, the Reserve Bank of Malawi cleared the 182-day bill at 11.50% (up 150 basis points) and the 364-day bill at 12.80% (unchanged). The rate shown is the average yield of allotted bids.
Bids totalled MWK 10.9bn and MWK 10.9bn was accepted, 100% of what was bid.
At 12.80%, the 364-day rate is the highest in the 34 auctions of the past year.
A year earlier the 364-day bill cleared at 10.00%, so the government is paying 280 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 128,036 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 1,128,036 after 12 months: MWK 128,036 in interest before any withholding tax, about MWK 10,670 a month.
That is MWK 38 more than the same money would have earned at the previous auction.
For shorter money: MWK 57,500 on the 182-day bill (6 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 |
|---|---|---|---|---|---|
| 182-day | 11.500% | 10.000% | — | MWK 2.00bn | MWK 2.00bn |
| 364-day | 12.804% | 12.800% | — | MWK 8.89bn | MWK 8.89bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 2 June 2020, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2020-06-02
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