TNM Managing Director Mr. Williem Swart

Outlook for 2015
We expect TNM’s growth to slow down in 2015 as a result of adverse macro-economic circumstances and the competitive environment.

The depreciation of the Malawi Kwacha towards the end of 2014, and a fall in international incoming revenue (experienced as a result of price increases in South Africa for calls to Malawi), will have a generally negative effect on TNM in the early part of 2015. Add to this, the increase in regulatory fees and a more competitive environment and management’s view is that the levels of growth will slow down. Management has implemented measures to mitigate these negative influences...

2014 annual report

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