Malawi Telecommunications Limited (MTL) has said the decision by Press Corporation plc to offload 80 percent of its shares in the company, coupled with debt the telecommunications firm owes the Malawi Communications Regulatory Authority (Macra), will not jeopardise its operations going forward.
This was said over the weekend in Blantyre during a stakeholder engagement session the firm hosted.
PCL announced recently that it will dispose of its 80 percent controlling stake in MTL, which will result in change of ownership. MTL also owes Macra about K1.98 billion in unsettled fees.
Speaking during the engagement, MTL Chief Commercial Officer Gladson Kuyeri said the new investor will take the company in a new direction and the debt will be paid by June next year.
He then assured the customers that service provision will not be compromised.
“Our customers should not be worried with these issues because the new investor will help the company grow by investing in new technologies and, on the debt, we have discussed with Macra and they have given us up until June next year to pay the debt; so, it will be paid by then,” he said.
Kuyeri said the engagement was meant to update customers on the new 4G technology which the firm has brought to the market, moving away from the Wimax technology which it was offering.
He said although the technology has delayed compared to other players on the market, MTL has made it attractive by bringing on the market cheap and unlimited bundles which can work on any gadget.
One of the customers who attended the event Patali Mkorongo applauded the company for the engagement, describing it as an eye-opener to their new technology.
“I am satisfied with what we have been told about their business continuity because they have the infrastructure which is their backbone but they just need rigorous approach to entice potential customers with their products,” he said.
MTL is one of Malawi’s oldest telecommunication companies with coverage across the nation.
Justin Mkweu is a fast growing reporter who currently works with Times Group on the business desk.
He is however flexible as he also writes about current affairs and national issues.