Malawi Treasury bills · auction of 16 June 2020
Malawi T-bill auction, 16 June 2020: 91-day at 7.50%, down 8 bps
At the Treasury bill auction dated 16 June 2020, the Reserve Bank of Malawi cleared the 91-day bill at 7.50% (down 8 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 327m and MWK 327m was accepted, 100% of what was bid.
Over the past year the 91-day rate has ranged from 6.00% to 9.50%.
A year earlier the 91-day bill cleared at 9.00%, so the government is paying 150 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 18,750 in 3 months on the 91-day bill
Put MWK 1,000,000 into the 91-day bill at this auction and you get back MWK 1,018,750 after 3 months: MWK 18,750 in interest before any withholding tax, about MWK 6,250 a month.
That is MWK 200 less than the same money would have earned 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 |
|---|---|---|---|---|---|
| 91-day | 7.500% | 7.580% | — | MWK 327m | MWK 327m |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 16 June 2020, compiled from the Reserve Bank of Malawi. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2020-06-16
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