MTL to dispose 36% stake in Malawinet
Fixed line incumbent Malawi Telecommunications Limited (MTL) has announced that it intends to sell its 36% stake in internet service provider Malawinet because it plans to set up its own ISP later this year. Press Corporation Limited (PCL), the 80% shareholder in MTL, said in a statement that the move would be part of a wider expansion drive for the company.
As it stands almost all of Malawi’s ISPs depend on MTL for connectivity and the launch of an ISP operation by MTL may spell a big challenge to the existing players in the market. PCL group chief executive officer Matthews Chikaonda said MTL will be investing close to USD70 million across its operations over the next three years in a bid to improve service delivery.
