Malawi Treasury bills · auction of 8 June 2021
Malawi T-bill auction, 8 June 2021: 364-day at 13.85%, unchanged
At the Treasury bill auction dated 8 June 2021, the Reserve Bank of Malawi cleared the 91-day bill at 9.74% (down 24 basis points), the 182-day bill at 12.80% (unchanged) and the 364-day bill at 13.85% (unchanged). The rate shown is the average yield of allotted bids.
Bids totalled MWK 7.4bn and MWK 6.4bn was accepted, 86% of what was bid.
Over the past year the 364-day rate has ranged from 12.75% to 13.94%.
A year earlier the 364-day bill cleared at 12.80%, so the government is paying 105 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 138,500 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 1,138,500 after 12 months: MWK 138,500 in interest before any withholding tax, about MWK 11,542 a month.
That is the same as at the previous auction.
For shorter money: MWK 64,000 on the 182-day bill (6 months), MWK 24,344 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 | 9.738% | 9.976% | — | MWK 90m | MWK 90m |
| 182-day | 12.800% | 12.800% | — | MWK 127m | MWK 127m |
| 364-day | 13.850% | 13.850% | — | MWK 7.14bn | MWK 6.14bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 8 June 2021, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2021-06-08
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