Minister of information Gospel Kazako on Friday engaged Press Corporation limited (PCL) plc executive management on the future of struggling Malawi Telecommunications Limited (MTL) where government has a 20 percent stake.
The minister said the engagement with PCL, a majority shareholder in MTL after the privatisation of the government entity in 2005, was one way of showing that government is doing things differently by following up on its investments.
He said: “MTL poses a lot of questions that we must all answer, should there be problems you should be speaking to a partner that is well-informed and we find solution together.”
PCL group chief executive officer George Patridge said MTL is geared to expand its presence in the telecommunication sector now that it has an integrated licence and is looking for various ways of raising capital.
“There has been some technological changes and MTL’S hands were tied because the licence that it had did not allow it to operate wireless technology but now things have changes,” he said.
Patridge said what is sad is that some of the debts owed to MTL are from government and parastatals.
He said the new integrated licence, will revamp MTL, which is in the process of finding capital to bounce back as a telecommunication giant in the country.Follow and Subscribe Nyasa TV :