Telekom Networks Malawi (TNM), the country’s second largest mobile operator by subscribers, invested a total of MWK21.2 billion (USD28.9 million) in its network infrastructure in 2015 and 2016, including the launch of its 4G LTE service in June last year. Nyasa Times quotes the firm’s CTO Eric Valentine as saying that the funds were partly spent on improving coverage and capacity for fixed and mobile broadband services in Blantyre and Lilongwe. The firm says it is aiming to improve the position of its TNM Enterprise division by providing cost-effective solutions and added that it is transforming itself into a fully integrated mobile network and ICT service provider, through convergence of technologies including telephony, video and data over a single network platform. ‘With our recent network investment and growing portfolio of services, we are perfectly positioned to support our customers as they embrace the changing digital landscape. Our 4G LTE platform heralds the start of great things to come,’ Valentine said.
TNM generated revenue of MWK35.8 billion in the first half of 2017, compared to MWK29.1 billion in the year-ago period, while EBITDA rose from MWK9.5 billion to MWK11.9 billion over the same timeframe. Net profit for the six months ended 30 June 2017 reached MWK4.8 billion, up by 72% from MWK2.8 billion in 1H16. TNM invested MWK12.3 billion in its network during the first half of 2017, with the funds mainly spent on 4G technology, improving the network in Lilongwe and Blantyre and increasing coverage in the Northern region.