Wednesday, May 25, 2022
  • About Us
  • ImagiNATION
  • Adverts
  • Rate Card
  • Contact Us
The Nation Online
Advertisement
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Columns
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Columns
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
No Result
View All Result
Home Business Business News

Kwacha fall pushes TNM tariffs up

by Johnny Kasalika
05/03/2013
in Business News
2 min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedinLinkedinShare via Email

TNM, one of Malawi’s mobile phone service providers, says the fall of the kwacha has compelled the firm to raise tariffs by an average 30 percent effective March 8 this year.

“The Malawi kwacha has depreciated by more than 120 percent in the past year and this has resulted in significant increases in the cost base of TNM,” said TNM in a statement published last week.

The company said since expenditure for investment in infrastructure for telecommunication and the operational costs to support the network are mainly denominated in foreign currencies, TNM has seen the costs doubling in value.

The Malawi Stock Exchange (MSE) listed firm said the cost of utilities and services has significantly increased over the past year and eroded the returns for telecommunication operators.

Since the devaluation and floatation of the kwacha in May 2012, the local unit has slumped by over 130 percent against the dollar driving prices of goods and services up.

However, TNM in the statement said much as it believes that the tariffs for telecommunication services must be made more affordable for the customers, the tariffs must also support the sustainability of the operators and their ability to continue to develop new services and technologies.

The statement, among others, said standard pre-paid tariff calls during peak period to another TNM number will be billed at an equivalent of K66 (about $0.16) per minute while off peak period will be billed at an equivalent of K33 (about $0.08) per minute.

The company said that standard pre-paid tariffs to another local network will be billed at an equivalent of K79.80 (about $0.20) per minute during peak period and an equivalent of K47 (about $0.12) per minute off peak.

TNM, a subsidiary of conglomerate Press Corporation Limited (PCL) is not alone. Another PCL subsidiary, Carlsberg Malawi Limited last week indicated that it will continue to adjust upwards prices of its products as long as the kwacha remains unstable.

The increase in the tariffs by TNM is certainly going to make communication out of reach of most people and worsen Malawi’s cellular mobile penetration which stands at 33 percent, one of the lowest in the region.

Previous Post

‘Malawi products have potential in regional markets’

Next Post

FUM defers EDF due to export ban

Related Posts

Business News

World Bank sees remittances rising

May 24, 2022
Business News

Malawi reviews inflation formula

May 24, 2022
Business News

Illovo half-year profits hit K9.2bn

May 24, 2022
Next Post

FUM defers EDF due to export ban

Opinions and Columns

People’s Tribunal

What was that press briefing all about?

May 22, 2022
Big Man Wamkulu

Wife, in-law plotting my downfall

May 22, 2022
My Thought

Tonse Alliance died on arrival

May 22, 2022
Layman's Reflection

New IMF programme pivotal moment for Tonse Alliance

May 21, 2022

Trending Stories

  • Kalindo: I am hearing it from you

    Kalindo earmarked for diplomatic post

    0 shares
    Share 0 Tweet 0
  • Musician Martse in hospital after fire accident

    0 shares
    Share 0 Tweet 0
  • Cooking oil project impresses Chilima

    0 shares
    Share 0 Tweet 0
  • Musicians, fans mourn Martse

    0 shares
    Share 0 Tweet 0
  • Witness U-turns in Batatawala, 3 others case

    0 shares
    Share 0 Tweet 0

Malawi-Music.com Top10

  • Values
  • Our Philosophy
  • Editorial policy
  • Advertising Policy
  • Code of Conduct
  • Plagiarism disclaimer
  • Disclaimer
  • Privacy Policy
  • Terms of use

© 2022 Nation Publications Limited. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Columns
  • Sports
  • Chichewa
  • Enation

© 2020 Nation Publications Limited. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.