Malawi Treasury bills · auction of 3 August 2021
Malawi T-bill auction, 3 August 2021: 364-day at 13.96%, up 5 bps
At the Treasury bill auction dated 3 August 2021, the Reserve Bank of Malawi cleared the 364-day bill at 13.96% (up 5 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 3.0bn and MWK 3.0bn was accepted, 100% of what was bid.
At 13.96%, the 364-day rate is the highest in the 47 auctions of the past year.
A year earlier the 364-day bill cleared at 13.67%, so the government is paying 29 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 139,567 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 1,139,567 after 12 months: MWK 139,567 in interest before any withholding tax, about MWK 11,631 a month.
That is MWK 522 more than the same money would have earned 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 |
|---|---|---|---|---|---|
| 364-day | 13.957% | 13.905% | — | MWK 3.01bn | MWK 3.01bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 3 August 2021, compiled from the Reserve Bank of Malawi. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2021-08-03
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