Malawi Treasury bills · auction of 7 June 2022
Malawi T-bill auction, 7 June 2022: 364-day at 17.24%, up 21 bps
At the Treasury bill auction dated 7 June 2022, the Reserve Bank of Malawi cleared the 182-day bill at 15.00% (unchanged) and the 364-day bill at 17.24% (up 21 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 15.5bn and MWK 14.3bn was accepted, 92% of what was bid.
At 17.24%, the 364-day rate is the highest in the 52 auctions of the past year.
A year earlier the 364-day bill cleared at 13.85%, so the government is paying 339 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 172,406 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 1,172,406 after 12 months: MWK 172,406 in interest before any withholding tax, about MWK 14,367 a month.
That is MWK 2,074 more than the same money would have earned at the previous auction.
For shorter money: MWK 75,000 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 | 15.000% | 15.000% | — | MWK 7.52bn | MWK 7.52bn |
| 364-day | 17.241% | 17.033% | — | MWK 8.02bn | MWK 6.73bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 7 June 2022, compiled from the Reserve Bank of Malawi. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2022-06-07
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