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More Africa NewsAirtel Malawi fined for failing to meet local shareholding requirements

October 10, 2019by myles

The Malawi Communications Regulatory Authority (MACRA) has fined Airtel Malawi a further MWK500 million (USD674,700) for failing to comply with the minimum local shareholding requirements. Airtel Malawi is wholly owned by Indian telecoms group Bharti Airtel, but under the Communications Act 2016 providers of electronic communication services were required to have a minimum of 20% local shareholding by 25 November 2018. Airtel Malawi has since paid a total of MWK820 million in fines and is expected to receive further penalties if it continues to breach the conditions of its operating licence.

Source: TeleGeography