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Telekom Networks Malawi Limited (

Telekom Networks Malawi Limited is the major provider of telecommunication services in Malawi; offering a range of products that include post- and pre-paid airtime, interconnections, international incoming and roaming, handsets, equipment and accessories. Additional products and services include smart data packages, a mobile money wallet called Mpamba, Yanga Internet bundles; as well as voice services which include caller tune, call conference and mobile directory services. Value-added services include Me2U which allows customers to share airtime, Pasavute airtime services, and multimedia messaging services. Innovations include the introduction of 3.5g broadband services and high-speed wireless Internet access, voice and data connectivity, and video and music streaming. Telekom Networks Malawi Limited was the first mobile network operator in Malawi and was established as a joint venture between Telekom Malaysia and the then government-owned Malawi Telecommunications Limited (MTL). Telekom Malaysia sold its 60% majority stake in TNM and the telecommunication enterprise is now a wholly-owned Malawi company. Telekom Networks Malawi is listed on the Malawi Stock Exchange

Three Reasons to Consider Investing in Telekom Networks Malawi Limited (


Market Leader

With over three million subscribers, Telekom Networks Malawi Plc enjoys over 50% share of the Malawi telecommunications market as at December 2017

The Pioneer

Telekom Networks Malawi Plc was the first telecommunications provider in Malawi and the TNM brand is synonymous with Malawi and investment into telecommunications infrastructure.

Coverage & Technology

Geographically TNM network covers over 74% of Malawi, operating 4G/4.5G/LTE network enabling advanced high-speed broadband multimedia services, in addition to GSM/GPRS/EDGE/3.5G networks
See our share price in action

Our Share Price in Action

2,600.00 0.00 / 0.00%
Year to date -7.14%
52 Week Change 6.12%
52 Week Low
52 Week High


Sales Value Tambala -
Volume Traded 0
Value Traded MWK 0.00
Market Cap MWK 261,051,700,000
Shares issued 10,040,450,000


Sector Technology
Exchange Malawi Stock Exchange
YEAR Listed 2008
Year End December


P/E 15.66
Div. Yield 2.885%
EPS Tambala 166.00
P/B Ratio 6.81
EV / Ebitda 7.73
Find the most important share facts

Top Shareholders31st December, 2018

Press Corporation Limited4,147,684,766 (41.31%)
Old Mutual Life Assurance Co Mw Ltd1,200,062,472 (11.95%)
Old Mutual Life Assurance Company (Malawi) Ltd867,189,858 (8.64%)
Other3,825,512,904 (38.10%)

Company Information

Registered Name Telekom Networks Malawi Limited (
Ticker Code
Sector Technology
Stock Exchange Malawi Stock Exchange
Chairman George Partridge
Chief Executive Officer Michiel Buitelaar
Company Secretary Christina Mwansa
Transfer Secretary National Bank of Malawi (mw)
Year End December
Year Founded 1995
Year Listed 2008
Website Address
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31 Dec 2019FYFull year end | Sign up for email alertsN/A
25 Apr 2020FY results Sign up for alerts to receive this document in your email as soon as its releasedN/A
30 Jun 2020HYHalf year end | Sign up for email alertsN/A
04 Sep 2020HY results Sign up for alerts to receive this document in your email as soon as its releasedN/A

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Documents and Reports

Telekom Networks Malawi Limited ( invites you to review its latest published financial reports: half year reports, annual reports / reference documents. All the listed documents may also be downloaded.

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What makes TNM Tick?


The facts that affect Telekom Networks Malawi Limited (‘s underlying value.

Statement of Income extract All values in Malawi Kwacha

 31 Dec 1431 Dec 1531 Dec 1631 Dec 1731 Dec 185-year trend
Attributable PAT5,243,242,0005,414,000,0008,206,000,00013,108,000,00016,666,000,000

Statement of Financial Position extract All values in Malawi Kwacha

 31 Dec 1431 Dec 1531 Dec 1631 Dec 1731 Dec 185-year trend
Shareholders funds13,248,591,00015,651,000,00020,845,000,00029,134,000,00038,361,000,000
Net interest bearing debt2,830,328,0009,861,000,00012,455,000,00014,156,000,00018,161,000,000
Cash on hand3,654,564,000746,000,0001,885,000,0002,890,000,0002,267,000,000
Interest bearing debt6,484,892,00010,607,000,00014,340,000,00017,046,000,00020,428,000,000
Net current assets(13,847,614,000)(13,039,000,000)(11,291,000,000)(8,370,000,000)(6,186,000,000)
Our Corporate Governance

Corporate Governance

As part of its commitment to evolving towards a world-class mobile communications provider, and as Malawi’s premier ICT company, TNM adheres to strict governance principles, in line with international standards of best practice.

Composition of the Board

TNM currently has a unitary Board structure of eight directors, all of whom are non-executive directors.

Non-Executive Directors

  • Dr. George Partridge (Chairman)
  • Hitesh N. Anadkat (Vice Chairman)
  • John Biziwick
  • John M. O’Neill
  • Elizabeth Mafeni
  • Dean Lungu
  • Khumbo Phiri
  • Gerald Randall
TNM’s non-executive directors contribute their extensive experience and knowledge to the Board’s committees. All committees operate under Board-approved terms of reference, which are updated from time to time, to stay abreast of developments in governance best practice.

Board Audit Committee
Members: J. M. O’Neill (Chairman), D. Lungu, J. Biziwick, G. Randall

Although ultimate responsibility for risk oversight and risk management rests with the Board, the responsibility of the Audit Committee is to monitor and advise on the risk management and internal control structure, to safeguard TNM’s assets and to ensure reliable financial records are maintained.

The committee meets at least four times a year and also assists the Board in monitoring the compliance by the Company with legal, corporate governance and regulatory requirements, monitors external auditor’s independence, qualification and performance and the performance of the internal audit function.

The Audit Committee is required to have at least three members, two of which are appointed from the existing independent non-executive Directors.

All members must be independent non-executive Directors of the Company and the Chairman of the Company is prohibited from being the Audit Committee Chairman.

At least one member of the Audit Committee should have recent and relevant financial or audit experience.

The committee chairman is required to be appointed from among the independent non-executive Directors of TNM’s Board.

At least once a year the Audit Committee is required to meet the external and internal auditors without executive Board members present, and the Audit Committee Chairman is required to attend the AGM and answer questions on the committee’s activities and responsibilities, through the Chairman of the Board.

Appointments and Remuneration Committee
Members: H. N. Anadkat (Chairman), E. Mafeni, D. Lungu

TNM’s Appointments and Remuneration Committee determines and agrees with the Board, the framework or broad policy for the remuneration of the Managing Director, Chairman, the non-executive Directors, the Company Secretary and other members of the executive management. The committee meets at least twice a year, and is made up of at least three members whose appointments are for a period of up to three years. If the committee member remains independent, their term can be extended for two further three-year periods.

The committee chairman (who cannot be TNM Board Chairman) is required to be an independent non-executive Director. No Director or manager can be involved in any decisions as to their own remuneration, and the remuneration of non-executive Directors is a matter for the Chairman and the executive members of the Board.

Finance and Procurement Committee
Members: E. Mafeni (Chairperson), H. N. Anadkat, J. Biziwick, D. Lungu, K. Phiri

The Finance and Procurement Committee is a three-person committee of the Board, directly responsible for discharging the Board’s responsibilities as they relate to finance decisions, procurement, internal procurement practices, controls and codes of procurement practice.

The committee meets at least four times a year and its role does not replace or replicate established management responsibilities and delegations of the Board. The committee reviews, develops and implements finance and procurement objectives annually and monitors standing contracts, loan covenants, borrowing requirements and procurement policies.

Members of the Finance and Procurement Committee are required to declare any interests that could constitute a real, potential or apparent conflict of interest with respect to participation on the committee.

The TNM Board determines TNM’s strategic objectives and policies to deliver long-term value and provide overall strategic direction within a framework of rewards, incentives and controls.

The Board is committed to ensuring that TNM conforms with the major principles of modern corporate governance namely, accountability, integrity, and transparency as contained in the King Code of Corporate Governance Principles and the King Report on Governance (“King III”), and the Code of Best Practice for Corporate Governance in Malawi.

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Registered Address

Telekom Networks Malawi Limited ( Fifth Floor, Livingstone Towers
Glyn Jones Road
P. O. Box 3039
Blantyre, Malawi
Telephone:- +265 (0) 1 830 888

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Transfer Secretaries

National Bank of Malawi (mw)Address:- Transfer Secretaries Section
Legal Department
P.O. Box 945
Blantyre, Malawi
Telephone:- +265 1 820 622

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