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MALAWI’S efforts to undertake infrastructure upgrades and create a more efficient and transparent digital payment system has received a boost to the tune of U$14,2 million. The African Development Fund (ADF) and the government of Malawi have signed the grant agreement. It will fund the Digitalization, Financial Inclusion and Competitiveness (DFIC) project, approved last December....

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Global payments platform MasterCard has been integrated with Zimbabwe’s electronic payments platform, Zimswitch, which means that locals can now make seamless domestic and international e-commerce transactions using one bank card. BancABC, the local unit of Atlas Mara, is the first Zimbabwean bank to issue a debit and credit card that will enable Zimswitch and MasterCard...

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After more than a year of investigation, the competition policeman has succeeded in defining the responsibilities of Airtel Malawi, following the complaint filed by consumers in September 2020. The Malawi Competition and Fair Trade Commission (CFTC) has fined the mobile operator Airtel Malawi 2,113,099,660 Malawian kwacha (over $ 2.5 million). Through the sanction unveiled on Wednesday,...

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Malawi’s largest mobile phone operator, Telekom Networks Malawi (TNM) remains optimistic that despite the challenges posed by two years of COVID-19, a volatile exchange rate and a shortage foreign exchange, its business model will deliver more positive results. According to the company, its customer base has increased by 26% to 4.5 million over the last...