from PHYLLIS BIRORI in Kigali, Rwanda
Rwanda Bureau
KIGALI, (CAJ News) – MTN Rwanda has reported stable revenues and sustained subscriber growth despite a challenging operating environment for the nine months ended September 30.
According to the unaudited results, mobile subscriber base increased by 5,3 percent year-on-year, reaching 7,6 million, with the addition of 382 000 subscribers, demonstrating the continued demand for our services in the market.
Active Mobile Money (MoMo) subscribers grew by 13,4 percent year-on-year to 5,2 million. In contrast, active data subscribers declined by 10,3 percent yearly to 2,3 million.
Service revenue rose by 1,6 percent to Rwf 189,3 billion (US$138,7 million), supported by strong growth in the MoMo and Enterprise segments.
This growth partially offset declines in voice revenue, which dropped by 21,4 percent due to the impact of the Zero Mobile Termination Rate (MTR) regulation, while data revenue saw a 1,9 percent decrease.
Dunstan Stober, Acting Chief Financial Officer, said the financial performance for the nine months reflected a sustained focus and execution of strategic priorities towards the delivery of the Ambition 2025 strategy.
“Quarter three’s performance, in particular, demonstrates MTN Rwanda’s resilience and marks a turning point towards our return to growth and profitability through commercial execution and operational efficiencies,” Stober said.
MTN Rwanda, in the final quarter, anticipates a stable outlook with sustained subscriber and revenue growth.
Mapula Bodibe, Chief Executive Officer, said despite the headwinds to the business, MTN Rwanda demonstrated resilience and a continued commitment to delivering best-in-class connectivity and access to digital services, which was reflected in the strong subscriber growth.
“Our strategic focus on financial inclusion, supported by alignment with government initiatives, is driving a meaningful impact for our customers and the Rwandan economy,” she said.
– CAJ News