TNM hikes tariffs by 20% while rival Airtel reduces tariffs by 25%

Mobile phone and ICT service provider, TNM has raised tariffs of its products and services by 20 % effective Tuesday, next week.

In a statement, TNM management is attributing the price hikes to the recent 25% devaluation of the Kwacha and increases in prices exerted by inflationary pressures.

The telecommunication company also justifies the decision as necessary in order to protect shareholder value and capital exposure of the business.

TNM has since indicated that details regarding the new tariffs will be communicated later.

The development comes as Airtel Malawi has also reduced the volume of MoFaya bundles by 45%, this week.

A 2 GB Airtel daily bundle is now reduced to 1.1 GB but maintained the price.