By Antony Isaiah Jr:……
Malawians will continue to endure the plight of devaluation as listed Airtel Malawi Pls has announced the increase in the prices of its MoFaya data, Voice and SMS bundle.
According to the statement released on Friday, Airtel has cited devaluation as the reason for the development.
On 27th May, the Federal Reserve Bank of Malawi announced a return to a market-determined foreign exchange rate regime to support dwindling foreign currency reserves and Malawi Kwacha was devaluated by 25%. The move came in reaction to rising commodity prices which have hit Malawi hard, amid declining revenue from tobacco, its major export.
Airtel says the new prices of the bundle is effective November 9, 2022.
The new prices have seen both MoFaya data and Voice Bundle increased by 20% while SMS bundle has hiked by 26%.
“The revision comes largely on the back of soaring cost of doing business following the 25% devaluation of Malawi Kwacha in May 2022, rising energy cost and their domino effects. As can be noted the effective price change is below 25%. While Airtel has absorbed the ensuing pressure from these headwinds for more than 5 months, the value dilution has become unsuitable, ” reads part of the statement.
The statement added that the development is accordingly to protect Airtel’s broad stakeholders base interests as well as guard its capability to continue to deliver quality of services to customers.
With the hiking of prices, MoFaya Daily data which is currently selling at K499 will be selling at K600, MoFaya Weekly data which is selling at K999, K2999 and K5,999 will be selling at K1,200, K3,600 and K7,200 respectively just to elaborate some of the changes on the prices of bundles.
Meanwhile, the Company has also announced that some of the Airtel’s products will be discontinued in order to streamline and simplify the product portfolio for customers convenience.
The products that have been discontinued are Panet Bundle, WhatsApp Bundle, Facebook Bundle, Social Combo Bundle and Night Chilaz Bundle.