As the battle for the control of Malawi's mobile phone market continues, Telekom Networks Malawi (TNM) has announced an investment of K21.2 billion (approximately US$30m) in a network upgrade.

Airtel Malawi is the country's largest operator followed by TNM, which believes its latest investment will help it to grow and lead the market.

The company said it invested in network coverage and capacity expansion in the towns of Blantyre and Lilongwe.

Eric Valentines, Chief Technology Officer at TNM, said the company has also invested in 4G and 4.5G networks.

He said through the investments, TNM now has a modern network that adds value to enterprise customers and the company is determined to achieve the status of a fully integrated mobile network and ICT service provider.

It plans to do this through the convergence of telephony, video and data communications services within a single network platform.

Following the investment, Valentines said the stage was now set for businesses to enjoy a better digital experience adding that the company will continue to innovate and upgrade its network.

"Businesses are continually looking for operational efficiency at every level of their organisations to improve productivity," said Valentines.

Meanwhile, the company said it has been successful with initiatives to improve revenue streams and manage costs in the first half of the year (2017).

According to its half-year results, ending June 30, 2017, the company posted a 72% increase in profit after tax of K4.7 billion from the previous year's K2.7 billion.

The company said it remains focused on maintaining current levels of profitability to support future investments.

According to Macra (Malawi Communication Regulatory Authority), last year Airtel Malawi had 55.9% share of the market, while TNM had 43.7%.