Malawi Treasury bills · auction of 4 March 2026
Malawi T-bill auction, 4 March 2026: 182-day at 15.00%, down 100 bps
At the Treasury bill auction dated 4 March 2026, the Reserve Bank of Malawi cleared the 182-day bill at 15.00% (down 100 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 64m and MWK 64m was accepted, 100% of what was bid.
At 15.00%, the 182-day rate is the lowest in the 39 auctions of the past year.
A year earlier the 182-day bill cleared at 20.00%, so the government is paying 500 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 75,000 in 6 months on the 182-day bill
Put MWK 1,000,000 into the 182-day bill at this auction and you get back MWK 1,075,000 after 6 months: MWK 75,000 in interest before any withholding tax, about MWK 12,500 a month.
That is MWK 5,000 less 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 |
|---|---|---|---|---|---|
| 182-day | 15.000% | 16.000% | — | MWK 64m | MWK 64m |
Source: Reserve Bank of Malawi result · average yield of allotted bids
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Free to quote, chart and republish with the credit “Source: Afronomics, compiled from the Reserve Bank of Malawi” and a link to this page.
Afronomics (2026). Malawi Treasury bill auction, 4 March 2026, compiled from the Reserve Bank of Malawi. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2026-03-04
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