The Malawi Communications Regulatory Authority has fined Airtel Malawi Limited the sum of MK500 million for failing to comply with the minimum local shareholding requirements. Further to this The Authority also imposed a fine of MK20 million for every 14 days that Airtel will remain in breach of the requirement. Airtel had up to the 25th of November 2018 to comply to this requirement. Under the Communications Act 2016 and the telecommunications and broadcasting Licensing Regulations which came into effect in 2016, it is a requirement for providers of electronic communication services to have a minimum of 20% local shareholding. in 2014, upon the renewal of its telecommunications license, Airtel committed itself to have a minimum of 20% local shareholding. Airtel Malawi has since paid a total of MK820 million in fines and is expected to pay more if it continues to breach the conditions of their license. Below some of the highlights of the press briefing which we held today.
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