Malawi Treasury bills · auction of 8 September 2020
Malawi T-bill auction, 8 September 2020: 364-day at 13.72%, up 1 bps
At the Treasury bill auction dated 8 September 2020, the Reserve Bank of Malawi cleared the 91-day bill at 10.00% (up 14 basis points), the 182-day bill at 12.58% (up 1 basis point) and the 364-day bill at 13.72% (up 1 basis point). The rate shown is the average yield of allotted bids.
Bids totalled MWK 3.5bn and MWK 2.6bn was accepted, 74% of what was bid.
Over the past year the 364-day rate has ranged from 8.00% to 13.75%.
A year earlier the 364-day bill cleared at 10.00%, so the government is paying 372 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 137,199 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 1,137,199 after 12 months: MWK 137,199 in interest before any withholding tax, about MWK 11,433 a month.
That is MWK 81 more than the same money would have earned at the previous auction.
For shorter money: MWK 62,904 on the 182-day bill (6 months), MWK 24,994 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 | 9.998% | 9.854% | — | MWK 507m | MWK 507m |
| 182-day | 12.581% | 12.567% | — | MWK 1.93bn | MWK 1.04bn |
| 364-day | 13.720% | 13.712% | — | MWK 1.01bn | MWK 1.01bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 8 September 2020, compiled from the Reserve Bank of Malawi. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2020-09-08
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