By Chisomo Phiri
One of the country’s largest network service providers Airtel Malawi PLC declared a profit after tax of K36.9 billion made in the 2022 financial year.
The disclosure of the profit was made during the company’s 24th Annual General Meeting (AGM),held on Wednesday at Mount Soche Hotel in the commercial city of Blantyre.
According to Airtel, the profit is a jump from K32.3 billion made during the 2021 financial year.
Speaking to journalists, Airtel Malawi PLCManaging Director Charles Kamoto attributed the profit increase to among other issues growth in the company’s customer base.
“5% growth in our customers was a factor for growth in revenue. Our average revenue per customer also increased by around 10%. A combination of that led to the growth of about 16% of our revenue which was pivotal to our increase in our profits to K36.9 billion,” said Kamoto.
Kamoto further disclosed that Airtel Malawi is currently investing in operations that are aimed at meeting the growing demands of its customers in the country.
“The demands of our customers are increasing by day. Customers are demanding more of our data services, and network coverage even in rural setups that never had coverage before. We are responding to that by investing more into our network,” he said.
Airtel Malawi is a leading mobile telecommunications company connecting millions of Malawians to the world through unrivalled data and voice solutions, as well as high speed fixed broadband internet services.
Airtel also offers the largest mobile money service in the country through Airtel Money.
The company is a subsidiary of Bharti Airtel International, which operates in 14 countries across Africa and Asia.
As part of a global business, Airtel Malawi benefits from economies of scales and shared experience of other operations.
