Major investor drops Malawi Telecommunications Ltd

Nyasa Mobile has secured partnership with Vodafone to assist it in rolling its network out.

Malawi is losing approximately MWK120-million monthly to mobile money fraud, according to Malawi Communications Regulatory Authority (MACRA).

Despite forex loss and sustained pressure, company has managed to increase revenue from data and voice silos.

Mobile operator cites foreign currency shortage, volatile exchange rate and sustained cost pressure on margins.

Country’s Minister of Information and Digitalisation also announces the country plans to review current tax structure applied to telecommunications.

Industry regulator MACRA outlines plan to register mobile handsets using Central Equipment Identification Register.

Figures released by the Reserve Bank of Malawi reflect growth in both volume and value of digital transactions.

Officials received requests to review taxation policies on ICT services.

Organisation receives payment for fine imposed in September.

Company confident it will deliver positive results, says its customer base has increased by 26% to 4.5 million over the last six months of this year.

Companies argue that the use of mobile devices in prisons is a likely source.

Study by country’s industry regulator finds that telecommunications could generate an additional US$13m in revenue annually.