The share price of TNM Plc increased from K17.94 in April to K28 in May, a report by the Malawi Stock Exchange (MSE) shows, coinciding with positive developments around the company’s network improvements and core operations.
TNM Plc stock closed Friday at K28 up from K27.99, and was one of the two top gainers along with Airtel, the exchange said in its weekly report.
For TNM, the trajectory of recent positive developments includes pilot launch of the 5G network, revised pricing structure, appointment of new CEO Michel Hebert and resilient and uninterrupted network services during the devastating tropical Cyclone Freddy.
In its monthly report for April, MSE says that while overall share volumes decreased by 28 pct and values fell by 12 pct across the local bourse, TNM Plc broke rank as one of the top performing stocks for April.
The report indicates that the TNM share price increased by 15.74% from K15.50 to K17.94 per share, and that the telco is amongst the top five capital gainers and volume pushers for April.
According to the monthly report, TNM’s trading activity on the local bourse helped to boost the overall market’s capitalization by 7.68% month-to-month.
Following the recent launch of the 5G network platform, TNM’s shareholders under the Minority Shareholders Association of Malawi expressed optimism for improved prospects in the company’s performance going forward.
TNM invested an initial U$5 Million (MWK5.2 billion) to launch the 5G pilot phase.
The Minority Shareholders Association Secretary General Frank Harawa said in an interview the group welcomes the decision and looks forward to TNM taking commanding role in helping improve the country’s telecoms and ICT landscape.
“5G technologies support applications that will have great impact in our society in areas such as healthcare, education, and industry automation, among other benefits. With this in mind, minority shareholders are excited, and look forward to a different TNM,” said Harawa.
On May 19 2023, TNM made history by becoming the first mobile operator in Malawi to launch the 5G network on a pilot basis following approval by the sector regulator, MACRA.
Earlier in March TNM engineers were applauded for keeping the network resilient and uninterrupted amidst Cyclone Freddy. The cyclone disrupted telecoms infrastructure and electricity supply in most parts of Southern Malawi. Roads and bridges were also cut off.
The TNM Chief Executive said at the 5G pilot launch that the service will deliver excellent end-user experiences as it offers higher internet speeds and eliminates congestion. TNM’s 5G will complement the network’s existing 2G, 3G and 4G capacity, he said.
“5G offers broader capacity and less latency to support multi-media content services such as online gaming, ultra-HD, virtual reality, IoT, mining and synchronization, among other user cases,” he said.