May 16, 2017 / 5:23 PM / 2 years ago

Telekom Networks Malawi to invest $30m in 4G network

BLANTYRE, May 16 (Reuters) - Telekom Networks Malawi (TNM), the country’s second-largest mobile network operator, said on Tuesday it is to spend an additional $30 million on improving its 4G broadband service.

TNM, whose main rival is the local unit of India’s Bharti Airtel, said it aimed to give better 4G coverage in Malawi’s four main cities.

“The upgrade aims to improve the agility, speed and stability of our mobile internet services,” it said in a statement.

The additional spending follows an initial 9.17 billion kwacha ($12.78 million) investment which TNM made in 2016 in 4G LTE technology, coverage expansion, fixed and mobile broadband technology and various other technical improvements, it said.

TNM, majority-owned by Malawian conglomerate Press Corporation, has more than 3.3 million subscribers, which compares with a national population of about 17 million people.

It posted a 52 percent jump in net profit to 8.2 billion kwacha in 2016. (Reporting by Frank Phiri; Editing by Greg Mahlich)

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