Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

Business of Tech

Malawi's TNM sees profit boost on back of data growth

Article Image
Malawi's biggest telecoms operator, Telekom Networks Malawi (TNM), saw a 25% uptick in net profit in 2021 as data customers spent more.

TNM's financial results for the year ended December 31, 2021, show that net profit after tax grew to 9.69 billion Malawian kwacha (US$12 million).

Data revenue grew by 21% to MK32.54 billion ($40.2 million) while mobile money revenue grew by 23% to MK11.48 billion ($14.2 million). This resulted in total revenue growth of 9% to MK99.13 billion ($122.4 million).

The Malawi Stock Exchange-listed operator's subscriber base also grew 14% during the year, but the company did not give an exact figure of how many users it has.

According to statistics from market researcher Omdia, a sister company of Connecting Africa, TNM had about 5.8 million users at the end of 2021 – controlling about 56% market share in the country. Omdia's stats show that Airtel Malawi had over 43% market share and the smallest operator, Access Communications, serviced less than 1% of mobile customers.

Market pressure

The TNM board said in the results statement that it expects the macroeconomic environment to remain challenging in 2022, putting pressure on revenue and margins.

"The volatile exchange rates and foreign currency scarcity will continue to increase the cost of our operations," it said. But it added that TNM had embarked on a recovery plan "that will grow the revenues for future profitability."

"Management will continue to pursue cost containment initiatives in order to protect margins and improve performance," it said.

TNM's 4G network operates across all cities and major towns in Malawi and its 2G and 3G networks cover over 88% of the southeastern African country.

Omdia stats show that about 47% of TNM customers are using 3G while about 26% are using 4G and another 26% are still on 2G.

According to DataReportal, there were only 4.03 million Internet users in Malawi in January 2022, giving the country an Internet penetration rate of just 20.2%.

Related posts:

*Top image source: Man phone photo created by DCStudio -

— Paula Gilbert, Editor, Connecting Africa

Innovation hub

New develoPPP Ventures funding program for SA startups

The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) has launched develoPPP Ventures, a new funding scheme offering up to €100,000 (US$106,950) for successful startups in South Africa.


Huawei using SA data centers to extend AI cloud adoption

Chinese multinational Huawei is using its three data centers in South Africa to extend artificial intelligence (AI) cloud adoption in the country.

More Innovation hub

Latest video

More videos

Partner perspectives

All Partner Perspectives

Sponsored video

More videos

Follow us on X

Industry announcements

More Industry announcements

Upcoming events

Cyber Revolution Summit
August 9, 2024
Gaborone, Botswana
Africa Tech Festival 2024
November 11-14, 2024
Cape Town, South Africa
More Upcoming events

Africa Tech Perspectives


Uber's Marjorie Saint-Lot on inclusion and sustainability in Africa

Uber's Country Manager for Ghana and Cote d'Ivoire, Marjorie Saint-Lot, shares how the ride-hailing company is approaching public-private partnerships, environmentally friendly initiatives and gender inclusion in Africa.


The 100 most influential African leaders in 2023

A new report from Africa Tech Festival and Connecting Africa puts a spotlight on the top 100 African leaders in the telecoms and technology sector in 2023.


Deep dive into East Africa's tech startup ecosystem

New survey reveals a lack of access to investors, reliance on international VCs and global recession trends as the biggest barriers for East African tech startups to access funds.

More Africa Tech perspectives

Guest Perspectives


Omdia View: May 2024

By Omdia Analysts

May 2024's telecoms highlights in the Middle East and Africa included African 5G subscriptions surpassing 5 million, growth from SpaceX's satellite Internet service Starlink, and a major fiber partnership in the Middle East and North Africa.


How e-mobility could transform Africa's transport sector

By Francis Hook

ICT analyst Francis Hook delves into Africa's e-mobility sector and unpacks the challenges faced locally and the benefits the move to electric vehicles could bring to urban transport systems.

More Guest Perspectives

Like us on Facebook

Newsletter Sign Up

Sign Up
Tag id test-002