TNM maintains investment focus amid forex shortages

Telekom Networks Malawi is pressing ahead with network investment despite persistent foreign‑exchange shortages that continue to weigh on the importation of critical equipment, Chief Executive Michel Hebert told shareholders at the company’s 31st Annual General Meeting in Lilongwe.

Hebert said network expansion remains TNM’s central strategic priority even as currency constraints complicate operational planning, a stance that reflects the broader pressures facing Malawi’s corporate sector.

Board Chair Ted Sauti‑Phiri reported MK222 billion in revenue and announced a final dividend of MK0.23 per share, totalling MK7.96 billion, following profit after tax of MK21.27 billion for the year ending 31 December 2025.

Shareholders also approved increases to annual sitting allowances, raising the Chairperson’s remuneration from MK10 million to MK12 million and other non‑executive directors’ allowances from MK9 million to MK11 million.

Company Secretary Chisomo Governor said TNM is in discussions with the Malawi Communications Regulatory Authority to ensure tariffs reflect prevailing economic conditions.

He added that the operator is applying for an automatic pricing mechanism that would allow tariffs to adjust in line with currency movements, similar to fuel pricing.

Minority shareholders’ representative Frank Harawa welcomed the dividend performance, saying it would encourage further investment.

The meeting underscored TNM’s effort to balance shareholder returns with continued capital expenditure and regulatory engagement, as the company seeks to maintain its position in a sector constrained by forex shortages and rising import costs.