Malawi Treasury bills · auction of 27 October 2020
Malawi T-bill auction, 27 October 2020: 364-day at 13.94%, up 9 bps
At the Treasury bill auction dated 27 October 2020, the Reserve Bank of Malawi cleared the 182-day bill at 12.95% (up 20 basis points) and the 364-day bill at 13.94% (up 9 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 2.9bn and MWK 2.9bn was accepted, 100% of what was bid.
At 13.94%, the 364-day rate is the highest in the 38 auctions of the past year.
A year earlier the 364-day bill cleared at 8.50%, so the government is paying 544 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 139,366 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 1,139,366 after 12 months: MWK 139,366 in interest before any withholding tax, about MWK 11,614 a month.
That is MWK 911 more than the same money would have earned at the previous auction.
For shorter money: MWK 64,744 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 | 12.949% | 12.750% | — | MWK 1.45bn | MWK 1.45bn |
| 364-day | 13.937% | 13.845% | — | MWK 1.40bn | MWK 1.40bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 27 October 2020, compiled from the Reserve Bank of Malawi. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2020-10-27
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