Malawi Treasury bills · auction of 13 May 2026
Malawi T-bill auction, 13 May 2026: 364-day at 16.45%, down 5 bps
At the Treasury bill auction dated 13 May 2026, the Reserve Bank of Malawi cleared the 91-day bill at 12.00% (unchanged), the 182-day bill at 15.00% (unchanged) and the 364-day bill at 16.45% (down 5 basis points). The rate shown is the average yield of allotted bids.
Bids totalled MWK 159.8bn and MWK 159.8bn was accepted, 100% of what was bid.
At 16.45%, the 364-day rate is the lowest in the 38 auctions of the past year.
A year earlier the 364-day bill cleared at 26.00%, so the government is paying 955 basis points less than twelve months ago.
What this means for MWK 1,000,000
Worked from the published rate · information, not advice
MWK 164,464 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 1,164,464 after 12 months: MWK 164,464 in interest before any withholding tax, about MWK 13,705 a month.
That is MWK 536 less than the same money would have earned at the previous auction.
For shorter money: MWK 75,000 on the 182-day bill (6 months), MWK 30,000 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 | 12.000% | 12.000% | — | MWK 9.65bn | MWK 9.65bn |
| 182-day | 15.000% | 15.000% | — | MWK 33.32bn | MWK 33.32bn |
| 364-day | 16.446% | 16.500% | — | MWK 116.85bn | MWK 116.85bn |
Source: Reserve Bank of Malawi result · average yield of allotted bids
Cite or reuse this data
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, 13 May 2026, compiled from the Reserve Bank of Malawi. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/malawi/2026-05-13
Free, every weekday at 7:00
The Afronomics Morning
Africa’s markets before 7am: the currencies that moved overnight, the auction results that landed, what is due today and the headlines that matter. Plus the Weekly every Monday.