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Thorough-out pioneer and leading flagship mobile phone network operator, Telecom Networks Malawi (TNM) Plc has clarified that charges to banks that use its network services are affordable and discounted.
The clarification follows a meeting between TNM Plc and Budget and Finance Committee of Parliament on Wednesday, August 4th 2021 at which the operator was invited to respond to allegations of exorbitant pricing for bank-related digital products and services raised by the commercial banks through the Bankers Association of Malawi (BAM) to the committee in April 2021.
TNM CEO Anold Mbwana: We provide services to commercial banks at negotiated and discounted rates.
TNM Chief Executive Officer (CEO) Arnold Mbwana said TNM provides services to commercial banks at negotiated and discounted rates and that the lower cost was helping Malawi’s financial sector players reduce their cost of operating branch services in general.
BusinessWorld
August 4, 2021 | 9:00 pm
BW FILE PHOTO
THE PESO retreated versus the greenback on Wednesday due to risk-off sentiment as the government lowered its target for the agriculture sectorâs growth.
The local unit closed at P49.75 per dollar, weaker by 14 centavos from its P49.61 close on Tuesday, based on data from the Bankers Association of the Philippines.
The peso opened Wednesdayâs session at P49.85 per dollar, which was also its weakest showing for the day. Meanwhile, its intraday best was at P49.59 versus the greenback.
Dollars exchanged slipped to $1.041 billion on Wednesday from the $1.098 billion recorded on Tuesday.
The revision of the growth target for the agriculture sector and its resulting impact on the economy caused risk-off sentiment, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.
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