LILONGWE-(MaraviPost)-The outgoing Airtel Malawi Managing Director Charles Kamoto says is leaving the company happily.
Kamoto therefore lauded the strong team behind the company’s success.
He was speaking at Airtel Malawi’s 25th Annual General Meeting (AGM) at Bingu International Convention Centre (BICC) in the capital Lilongwe which had been previously adjourned.
The AGM also marked the final meeting Kamoto, who has been with Airtel Malawi since May 2014, initially as Chief Commercial Officer before becoming Managing Director in 2016.
He has been posted to head Airtel Tanzania effective, November 1, 2024.
“I’m leaving Airtel Malawi happily due to company’s robust growth and sadly because I’m leaving a strong team here that supported me fully,” says Kamoto.
Acting Chairperson, Board Director Mark Mikwamba said Kamoto has been instrumental in driving the company’s growth and maintaining its position as a market leader in the mobile telecommunications sector.
Mikwamba however addressed and managed concerns raised by minority shareholders, reaffirming the company’s commitment to transparency and growth.
Reflecting on the company’s decision to revise its Financial results for year ended 2023 after reviewing the accounting treatments for its US$ indexed tower lease contracts, Airtel Malawi released revised financial statements for the same period in August 2024, showing a MK15 billion loss after tax.
Despite the loss, the Board of Directors, reassured shareholders of the company’s robust growth prospects and transparency regardless of the revised losses of the K15 billion which has impacted the no dividend payout from the financial year ended 2023.
“Airtel Malawi remains committed to delivering value to its shareholders and customers, continuing its journey of innovation and excellence in the telecommunications industry,” Board Director Mark Mikwamba, who was also the acting Chairperson for the 25th AGM, said.
On the sidelines, Airtel Malawi recently announced a MK21.3 billion profit after tax for the half-year ended 30th June 2024, reflecting a 16.7% growth compared to the financial results for the year ended December 2023, significantly showcasing the company’s resilience and strategic outlook.
