Currency devaluation, inflation force TNM to hike tariffs by 20%

17 Aug 2022

Telekom Networks Malawi (TNM) has announced that it will implement a 20% tariff increase on the current average effective rate for both voice and data services effective 18 August. The mobile operator said the move was necessitated by the rising costs of doing business due to a recent 25% devaluation of the Malawi kwacha (MWK) and inflationary pressures. TNM adds that as a result of the recent changes in the business environment, an adjustment of its tariffs is necessary to protect shareholder value and capital exposure, while maintaining the firm’s goal of ‘offering high quality and affordable telecoms products and services’.

According to TeleGeography’s GlobalComms Database, TNM is Malawi’s second largest mobile operator by subscriptions with a market share of 44.6% at 31 March 2022, behind Airtel with 55.4%.