This significant financial turnaround, announced in the company's results for the period ended 31 March 2025, was fueled by robust revenue growth and reduced depreciation costs.
The company achieved a 12.3% YoY increase in service revenue, totaling Frw67.2 billion, with strong performances in its fintech and data segments.
Data revenue rose by 12.2%, propelled by a 33.6% spike in data traffic and growing smartphone penetration, which now stands at 41.8%.
Popular offerings like GWAMON' data and voice bundles have continued to drive customer engagement, despite a slight decline in active data users due to heightened market competition.
MTN Rwanda's Mobile Money (MoMo) platform remains a cornerstone of its growth, with revenue climbing 28.0% YoY. The platform now serves 5.3 million active users, reflecting strong adoption of advanced services such as payments and remittances.
'The way Rwandans are embracing MoMo in their daily lives is both a source of pride and a deep responsibility,' said Chantal Kagame, CEO of Mobile Money Rwanda Ltd.
'As a dedicated partner in Rwanda's progress, we remain Focused on responsible and inclusive innovation which are key to advancing the country's ambitious Financial inclusion goals, together.'
The company's total subscriber base grew by 2.8% to 7.6 million, while earnings before interest, tax, depreciation, and amortization (EBITDA) increased by 9.3% to Rwf 26.5 billion.
However, the EBITDA margin dipped slightly by 1.2 percentage points to 38.9%, impacted by currency depreciation and higher operational costs.
'We are pleased with the growth and return to profitability,' said Dunstan Ayodele Stober, Acting Chief Finance Officer.
'We continue our efforts to improve profitability through a disciplined expense efficiency program and value-based capital allocation. As we execute our Ambition 2025 strategy, our focus remains on building financial resilience and driving long-term value for our stakeholders .'
Commenting on the results, newly appointed CEO Monzer Ali expressed optimism about MTN Rwanda's trajectory.
'I am energized by the opportunity to build on our strong foundation[...] I am particularly pleased with our Q1 results, which reflect the strength of our connectivity and platform business together with the resilience of our team,' he said.
'We remain committed to leading Rwanda's digital transformation by delivering innovative, inclusive solutions that enable progress for all Rwandans,' Monzer added.
Beyond financial performance, MTN Rwanda continues to empower communities through its corporate social responsibility efforts.
The company awarded Rwf 14.5 million to 40 MTN agents under its Level Up Your Biz program, supporting local entrepreneurs with training in digital marketing, finance, and business growth.
IGIHE
