One of Malawi’s mobile phone service providers TNM is proving its worth on the market, as it continues to register notable growth.
In the first half of the year, TNM has registered a 72 percent growth in profits from where it left off as at 31st December 2016.
The company has registered a post tax profit of MK4.7 Billion, up from MK2.8 Billion, which was made during the same period in 2016.
In a published half-year financial report, the Board Chairman of the company George Partridge has attributed the growth to the decreasing national inflation, coupled with a stable exchange rate.
The company has also heavily invested in ICT services which are said to have pushed their earnings further.
This half year profit is almost equivalent to the mobile phone service company’s full year profits from two years ago.
Established in 1995, TNM is a joint venture between Telekom Malaysia and Malawi Telecommunications Limited, it is listed on the Malawi Stock Exchange.
In April 2007 Telekom Malaysia sold its 60% majority stake in TNM. TNM is now wholly Malawian owned.
Geographically TNM network covers over 74% of Malawi.
TNM operates 3.5 generation network enabling advanced high speed broadband multimedia services, in addition to GSM/GPRS/EDGE networks.
TNM offers a comprehensive range of prepaid and postpaid services, these include voice and data connectivity.