Malawi Treasury bills · auction of 30 June 2020
Malawi T-bill auction, 30 June 2020: 364-day at 13.40%, up 15 bps
At the Treasury bill auction dated 30 June 2020, the Reserve Bank of Malawi cleared the 182-day bill at 11.50% (up 60 basis points) and the 364-day bill at 13.40% (up 15 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 7.1bn and MWK 6.1bn was accepted, 86% of what was bid.
At 13.40%, the 364-day rate is the highest in the 31 auctions of the past year.
A year earlier the 364-day bill cleared at 10.00%, so the government is paying 340 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 134,050 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 1,134,050 after 12 months: MWK 134,050 in interest before any withholding tax, about MWK 11,171 a month.
That is MWK 1,550 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% | 10.900% | — | MWK 2.00bn | MWK 2.00bn |
| 364-day | 13.405% | 13.250% | — | MWK 5.05bn | MWK 4.05bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 30 June 2020, compiled from the Reserve Bank of Malawi. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2020-06-30
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