MTN Rwanda Q3 2024: Mobile Money and Broadband Drive Growth

MTN Rwandacell Plc (MTN Rwanda) has released its Q3 2024 financial results, showing robust growth in Mobile Money and broadband services as it advances digital inclusion across Rwanda. Amid a challenging market, MTN’s mobile subscriber base grew by 5.3% year-on-year, totaling 7.6 million users.

The Mobile Money segment achieved a 13.4% increase in active users, now reaching 5.2 million. This growth emphasizes the expanding role of mobile financial services in Rwanda’s economy.

The Enterprise segment saw a remarkable 37.5% rise in service revenue, driven by reliable mobile and fixed data solutions. Home broadband subscribers also surged by 25.3%, demonstrating MTN Rwanda’s commitment to enhancing internet access for Rwandan households and businesses.

As part of its Ambition 2025 strategy, MTN completed its network modernization program in Kigali, further enhancing connectivity and digital services nationwide.

CEO Mapula Bodibe emphasized the company’s ongoing focus on digital inclusion, financial access, and community support. MTN Rwanda has committed resources to educational and social programs, including a Rwf 30 million pledge to the #DusangireLunch campaign, providing school meals to over 10,000 students.

This aligns with MTN’s efforts to support Rwanda’s digital economy and national development goals.

Key Highlights:

• 5.3% Increase in Mobile Subscribers: Reaching 7.6 million users.
• 13.4% Growth in Mobile Money Subscribers: Now totaling 5.2 million users.
• 37.5% Growth in Enterprise Service Revenue: Driven by mobile and broadband solutions.
• 25.3% Increase in Home Broadband Subscribers: Expanding access to high-speed internet.

Learn More: For further details : Unaudited Financial Results for the Nine Months Ended 30 September 2024