Airtel to list on Malawi Stock Exchange, localise ownership
Multi-national mobile telecommunications network operator Airtel Malawi plc on Wednesday announced its intention to list on the main board of the Malawi Stock Exchange (MSE) as aligned to the Communications Act and its operating license.
Airtel Malawi managing director Charles Kamoto said the development will allow Malawians to share in Airtel Malawi’s success story.
“Today marks a significant milestone in the company’s evolution,” Kamoto said. “Since starting operations in 1999 Airtel Malawi has been ingrained in the fabric of the country.
“This potential listing will enable Malawians to share in the growth of the company.”
He added that Airtel Malawi’s investment in its network has ensured that it maintains a leadership position into the future.
“Through investment in its infrastructure and innovative offerings, Airtel Malawi has grown to offer dependable voice, data and digital services to its customers.
“We have always believed that mobile communications connect people, helps families and communities stay in touch and enables business to be more efficient. Listing on the Malawi Stock Exchange, Airtel Malawi now allows Malawians across the length and breadth of the country to be part of a shared journey,” Kamoto said.
The company aims to list on the MSE pending market conditions and subject to the approval of the requisite authorities.
Airtel Malawi is the country’s leading mobile service provider offering 4G/LTE, 2G and 3G wireless networks and high speed fixed broadband internet services.
The company has committed to comply with provisions of the Communications Act to ensure that its ownership has 20 percent local shareholding as it also offers the largest mobile financial service in the country through Airtel Money, which was launched in February 2011.
The Communications Act stipulates that any electronic service provider must have 20 percent of its shareholding locally.
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Koma amwenye alora izi,? I doubt because the company on india is treated as a family business. The next we may hear is that the company has been sold to other investors from the same subcontinent. This company is a cashcow.