An electronic communications licensee shall maintain local shareholding of at least 20 percent.
"Interpretation
3. In this Act, unless the context otherwise requires__[...]
"broadcasting" means any form of transmission of content intended for reception by the public whether conveyed by means of radio or electronic communications;[...]
"content" means information in the form of sound, data, text or images, whether still or moving, except where transmitted in private communications;
"content service licensee" means a holder of a content service licence;[...]
"electronic communications" means the emission, transmission or reception of signals, including content or intelligence of any nature, partially or fully transmitted by any radio, electro-magnetic, photo electronic or photo optical system, but does not include__
(a) wire or direct oral communication; (b) communications made through a tone-only paging device; (c) communication from a tracking device; (d) electronic funds transfer information stored by a financial institution in a communications system used for electronic storage and the transfer of funds; or (e) postal or broadcasting service;
"electronic communications licence" means a network service licence and an application service licence;[...]
[...]
Local ownership requirement
35. An electronic communications licensee shall maintain a local shareholding of at least twenty per cent.
[...]
PART XIII__REgULATION OF CONTENT SERVICES
97. (1) The Authority shall regulate content services in accordance with this Act.
(2) The Authority shall facilitate the investment and development of the broadcasting sector in Malawi, and shall, in particular__
(a) issue licences to operators of content services;
[...]
99. The Authority shall issue the following types of content licences__
(a) public content licence; (b) commercial content licence; (c) community content licence; (d) subscription content management; and (e) any other type as the Authority may determine from time to time.
[..]
Restrictions on foreign ownership
104. A person who is not a citizen of Malawi shall not, directly or indirectly__
(a) exercise control over content service; or (b) have a financial interest or an interest in voting shares or paid up capital in content service licence, exceeding 20 %.[...]" (Communications Act, 2016 (Act 34 of 2016))
------------------------------------------
"NOTICE OF COMMENCEMENT
In exercise of the powers conferred by section 1 of the Communications Act, 2016, I, Nicholas Harry Dausi, Minister of Information and Communications Technology, hereby appoint the 1st day of June, 2017, as the date on which the provisions of Act, except section 104, shall come into operation" (Government Notice No. 24, Communications Act (Act No. 34 of 2016) Notice of Commencement)

Communications Act, 2016
Government Notice No. 24, Communications Act (Act No. 34 of 2016) Notice of Commencement.
[<a href="https://macra.mw/wp-content/uploads/2021/04/COMMUNICATIONS-ACT-2016.pdf">Act</a>],[<a href="https://malawilii.org/akn/mw/act/gn/2017/24/eng@2017-05-26">Notice</a>]