Malawi Treasury bills · auction of 30 August 2022
Malawi T-bill auction, 30 August 2022: 364-day at 18.33%, up 33 bps
At the Treasury bill auction dated 30 August 2022, the Reserve Bank of Malawi cleared the 91-day bill at 11.00% (unchanged), the 182-day bill at 15.50% (unchanged) and the 364-day bill at 18.33% (up 33 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 7.3bn and MWK 7.3bn was accepted, 100% of what was bid.
At 18.33%, the 364-day rate is the highest in the 54 auctions of the past year.
A year earlier the 364-day bill cleared at 14.20%, so the government is paying 413 basis points more than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 183,273 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 1,183,273 after 12 months: MWK 183,273 in interest before any withholding tax, about MWK 15,273 a month.
That is MWK 3,273 more than the same money would have earned at the previous auction.
For shorter money: MWK 77,494 on the 182-day bill (6 months), MWK 27,500 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 | 11.000% | 11.000% | — | MWK 76m | MWK 76m |
| 182-day | 15.499% | 15.499% | — | MWK 6.49bn | MWK 6.49bn |
| 364-day | 18.327% | 18.000% | — | MWK 729m | MWK 729m |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Afronomics (2026). Malawi Treasury bill auction, 30 August 2022, compiled from the Reserve Bank of Malawi. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2022-08-30
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