Malawi: TNM reports 15% rise in 2018 revenue

Telekom Networks Malawi (TNM) has reported revenue of MWK91.2 billion (USD122.7 million) for the twelve months ended 31 December 2018, a rise of 14.6% from MWK79.6 billion the previous year. Service revenue increased by 14.7% year-on-year to MWK88.9 billion, while EBITDA totalled MWK36.1 billion, compared to MWK29.5 billion in 2017. Profit after tax grew from MWK13.1 billion to MWK16.7 billion over the same period, driven by the company’s initiatives to improve its revenue streams and manage costs. TNM invested MWK19.3 billion in 2018, with the funds mainly spent on 4G expansion, network quality improvement and the replacement of the firm’s mobile money platform.

Source: TeleGeography