Airtel Malawi Plc has reaffirmed its commitment to delivering value to its shareholders and customers, despite revising its 2023 financial results to reflect a K15 billion loss after tax.
At the company’s 25th Annual General Meeting (AGM) in Lilongwe, Acting Chairperson for the AGM Mark Mikwamba assured stakeholders of Airtel Malawi’s robust growth prospects and transparency.
“Airtel Malawi remains committed to delivering value to its shareholders and customers, continuing its journey of innovation and excellence in the telecommunications industry,” said Mikwamba, who is also Board Director for Airtel Malawi Plc.
The AGM addressed concerns raised by minority shareholders and reaffirmed the company’s commitment to transparency.
Airtel Malawi revised its 2023 financial results following a review of accounting treatments for US-dollar indexed tower lease contracts.
The revised statements, released in August 2024, showed a K15 billion loss after tax.
However, the company recently announced a K21.3 billion profit after tax for the half-year ended June 2024, representing 16.7% growth compared to the previous year.
The AGM marked the final meeting for Managing Director Charles Kamoto, who has driven the company’s growth since joining in 2014.
Kamoto’s leadership has maintained Airtel Malawi’s position as a market leader in the mobile telecommunications sector.
