Malawi Treasury bills · auction of 17 November 2020
Malawi T-bill auction, 17 November 2020: 91-day at 9.95%, unchanged
At the Treasury bill auction dated 17 November 2020, the Reserve Bank of Malawi cleared the 91-day bill at 9.95% (unchanged). The rate shown is the average yield of allotted bids.
Bids totalled MWK 6m and MWK 6m was accepted, 100% of what was bid.
Over the past year the 91-day rate has ranged from 6.15% to 10.00%.
A year earlier the 91-day bill cleared at 6.00%, so the government is paying 395 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 24,875 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 1,024,875 after 3 months: MWK 24,875 in interest before any withholding tax, about MWK 8,292 a month.
That is the same as 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 | 9.950% | 9.950% | — | MWK 6m | MWK 6m |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 17 November 2020, compiled from the Reserve Bank of Malawi. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2020-11-17
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