Malawi Treasury bills · auction of 22 June 2021
Malawi T-bill auction, 22 June 2021: 364-day at 13.89%, up 3 bps
At the Treasury bill auction dated 22 June 2021, the Reserve Bank of Malawi cleared the 91-day bill at 9.33% (down 40 basis points), the 182-day bill at 12.80% (up 1 basis point) and the 364-day bill at 13.89% (up 3 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 3.6bn and MWK 3.6bn was accepted, 100% 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 12.96%, so the government is paying 94 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 138,938 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 1,138,938 after 12 months: MWK 138,938 in interest before any withholding tax, about MWK 11,578 a month.
That is MWK 295 more than the same money would have earned at the previous auction.
For shorter money: MWK 63,999 on the 182-day bill (6 months), MWK 23,333 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 | 9.333% | 9.738% | — | MWK 876m | MWK 876m |
| 182-day | 12.800% | 12.792% | — | MWK 2.39bn | MWK 2.39bn |
| 364-day | 13.894% | 13.864% | — | MWK 348m | MWK 348m |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 22 June 2021, compiled from the Reserve Bank of Malawi. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2021-06-22
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