The Competition and Fair Trading Commission (the “Commission”) is a Government agency that was established by the Competition and Fair Trading Act No. 20 of 2024 (CFTA) with a mandate to regulate, monitor, control and prevent acts or behaviour which are likely to substantially affect competition and fair trading in Malawi. In pursuance of its mandate, the Commission regulates mergers and acquisitions. It is against this background that the Commission is assessing the impact on the Malawi market of the proposed acquisition of assets belonging to Open Connect Limited by TNM Plc. and collectively referred to as the “Parties.”
For your own information, the Acquirer, TNM Plc, is a service provider in telecommunications and mobile money. TNM is publicly listed on the Malawi stock exchange; and is owned by Press Corporation Limited (43.72%); Old Mutual Life Assurance Company (Mw) Limited (23.57%); NICO Life Insurance Company Limited (8.16%); and others (24.55%). On the other hand, the Target, OCL, operates a national fibre network in Malawi providing wholesale fibre capacity (carrier of carriers) to mobile network operators, internet service providers, broadcasters, and enterprise customers. OCL is owned by South Africa’s Harith General Partners (60%) through the Pan-African Infrastructure Development Fund (PAIDF 2); Press Corporation (22%); Old Mutual Malawi (15%); the Malawian Government (2%), and NICO Holdings (1%).
In view of the foregoing, the Commission is seeking information from stakeholders in the industry to provide their information regarding the likely impact that this transaction may have on competition in the relevant markets and the economy of Malawi. Your information will be treated as confidential and will assist the Commission in deciding whether to approve the proposed merger or not. The Commission will be grateful to receive stakeholder views by Friday, 10th July, 2026.
All written submissions on the matter should be sent to: The Chief Executive Officer, Competition and Fair Trading Commission, MERA Office Complex, City Centre, Private Bag 332, Lilongwe 3 or email competitioncommission@cftc.mw. For more information, please, call the Commission’s toll-free line 2489.
Desmond Kaunda
CHIEF EXECUTIVE OFFICER