MTN Rwanda records 3% growth in revenue in the first quarter of 2017

MTN Rwanda recorded a 3 per cent increase in total revenue in the first quarter of the year compared to Q4 of 2016. The Rwanda Utilities Regulatory Authority quarterly report shows that MTN Rwanda is winning revenue market share in Rwanda, outpacing the competition. Commenting on the results, MTN Rwanda chief executive officers, Bart Hofker, said the telecom firm expects the positive trend to continue. “We are focusing on improving our core business, which means new attractive propositions for our customers and more investments in our network, which we expect will pay off in the longer term.” MTN Rwanda is currently revitalising its brand and introduced value-based MTN Irekure voice packs which have been well received by customers and are expected to drive further growth in the next quarter. As for the year ahead, MTN anticipates an increase of mobile data usage in Rwanda and has started ramping up its network investments by 15 per cent this year, the CEO added. He was bouyant that the steady growth in Mobile Money financial services, the telecom revenue would expand in a sustainable manner. MTN has 3.51 million subscribers or 42 per cent of the market but its dominance has been reduced with Tigo inching up to grab 39 per cent (3.25 million users) of the market and Airtel 19 per cent or 1.58 million customers. Rwanda’s mobile telephone penetration rate stands at 72.45 per cent (8.35 million subscribers) as at the end of May.

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MTN Rwanda records 3% growth in revenue in the first quarter of 2017