Celcom Limited, a wholly-owned Malawian telecommunications company has said it plans to roll out its operations in the country before end 2017.
Celcom Limited is a subsidiary of Mulli Brothers Limited (MBL) Holdings.
The company was awarded a technology-neutral license by the Malawi Communication Regulatory Authority (Macra) to provide both fixed and mobile telephone services in 2011, but has been failing to start its operations due to capital base challenges.
The firm said it is now is in final stages of re-negotiations with the African-Import-Export Bank (Afreximbank) over a possible $200 million line of credit.
MBL Chief Executive Officer, Leston Mulli, is optimistic that the business will be on the ground before the end of the year.
According to Mulli, all paper work towards re-engaging Afreximbank were already completed and once the loan is approved, the business will roll out.
“We already got the assurance of financing from Afreximbank. We are reworking the required documentations as we started from scratch to access the funds.
“We are optimistic and sure that regardless of whatever the problems we may encounter, we may be able to roll out before end 2017 and that it will be a milestone for the group,” Mulli said on the sidelines of the New Year’s prayer session the group organised for its staff in Blantyre on Tuesday.
He reiterated the firm’s commitment to penetrate the local telecommunication market.
The sector is already dominated by Airtel Malawi and TNM as mobile phone service providers and Malawi Telecommunications Limited (MTL) and Access Communication Limited in the fixed phone business.
Giving performance outlook for the other subsidiaries of the company in the year, Mulli said there was hope for possible business rebound owing to “improved” macroeconomic fundamentals.
“We have seen some changes happening in the system to improve the economy. So we are hoping that 2017 will grow our business and make profits and grow our companies as well as input to the economy,” he said.
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