Telekom Networks Malawi (TNM) has posted a net profit of K10.05 billion for the year ending December 31, 2024, marking a significant turnaround after two consecutive years of losses.
The figures are contained in TNM’s 2024 Annual Report released on June 28, 2025, through the Malawi Stock Exchange.
The report attributes the return to profitability to cost control, commercial expansion, and continued investment in digital transformation.
TNM Board Chairperson Ted Sauti Phiri, in a statement within the report, said the company had navigated a challenging economic environment with strategic clarity and resilience.
Sauti Phiri said, “We have not only returned to profitability, but we’ve also reaffirmed our strategic foresight, stakeholder trust, and operational discipline.”
The report shows that TNM’s total revenue grew by 34 percent to K158.17 billion, driven by a 59 percent surge in mobile money (Mpamba) usage and a 40 percent increase in data revenue, despite inflationary pressures and tight financial conditions.
The company also recorded an Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) of K47.89 billion, a 30 percent increase from 2023, and made capital investments of K33.44 billion targeting network upgrades and service quality improvements.
Additionally, TNM implemented a cost-efficiency programme that saved K4 billion through tighter vendor contract management, improved procurement processes, and the adoption of energy-saving technologies across its infrastructure.
“These efforts allowed us to protect margins and continue investing in critical growth areas even under rising interest rate pressures,” said Sauti Phiri.
Socio-economic expert Austin Ndau commended TNM for its recovery and strategic resilience, urging other companies to adopt innovative and efficient business models to support sustainable private sector growth in Malawi.
In a separate statement, TNM has projected a profit after tax of between K7.82 billion and K8.27 billion for the half-year ending June 2025, representing a 246 to 266 percent increase compared to the same period in 2024.
