MTN Rwanda posts strong half year results, looks to continued expansion of connectivity and digital financial services
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Loading... - John Osoro
- 04 Aug 2022
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The company has continued its journey of accelerated progress shown over the last three years. This is despite global and local inflationary pressures, resulting from the Ukraine-Russia war, which has placed strain on supply chains globally and resulted in an increase in commodity and fuel prices.
In the first half of 2022 (H1), total company revenue increased by 20.4% compared to the same period last year. H1 saw MTN Rwanda increase its customer base by 1.7% year-on-year (YoY) to 6.6 million, growing its leadership in customer market share by 2.7 percentage points (pp) to 65.6%. Active data and mobile money subscribers also grew by 23.9% and 9.1% respectively.
Commenting on this business growth ; the Chief Executive Officer of MTN Rwanda, Mitwa Ng’ambi, said : “We are pleased to present our half year results to our shareholders. We have continued diligent execution of our Ambition 2025 strategy which has yielded these positive results. Leading in connectivity, has been of great focus for us in the first half of the year, where we invested Rwf28.8 billion in technology, including the roll out of 57 new sites across the country.
Transformation of our distribution footprint and product offerings has also contributed greatly to the commercial momentum that the business has experienced. Voice, data and mobile money have performed particularly well and our engagement in various Environmental, Social and Governance initiatives has further cemented our commitment to the communities we serve.”
MTN Rwanda’s key revenue streams, voice, data and fintech increased by 7.1%, 14.6% and 52.4% YoY respectively. The voice and data results are mainly attributed to a rise in strategic customer value management campaigns, increased active data subscribers and usage. Read More...
