Malawi: TNM Leverages Growth of Malawi Mobile Money

Lilongwe — TELEKOM Networks Malawi (TNM) has appointed Chikhulupiliro Mphatso as General Manager of its newly established mobile money subsidiary, TNM Mpamba Ltd.

Mphatso was previously the head of TNM Plc's mobile money division before it evolved into an autonomous company with its own board of directors.

He will remain a key player in TNM Plc's quest to deepen financial inclusion and application of mobile financial technology in the daily business and lives of Malawians.

"We will continue to provide financial liberty to our customers using the TNM Mpamba mobile money platform that enhances financial inclusion which mostly is geared towards the unbanked and underbanked," Mphatso said.

Mobile money services contributed to about 4,3 percent of TNM's total revenues in 2018.

Mphatso said the fourth industrial revolution is changing the business landscape where businesses are required to adapt to remain valid.

"As a company, we will keep pushing the boundaries of innovation to enable customers transact on the trusted, secured and convenient Mpamba platform," he said.

TNM Plc has retained 100 percent ownership in TNM Mpamba.

Chief Executive Officer, Michiel Buitelaar, who has taken over the reins as Chairman of TNM Mpamba board of directors, said the development underscored TNM's long-term ambition to leverage on the growth of mobile money and the telco's strategic direction of becoming more than just a telecoms service provider.

Buitelaar said the birth of TNM Mpamba Limited would fully exploit the benefits of big synergies between TNM Plc and the mobile money business.

"It underscores our vision of becoming 'more than just a telco'. The growth of Mpamba speaks to TNM's fundamental vision and strategy execution to enable mobile phones become financial outlets," he said.

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