MTN Rwanda has reported a solid set of half-year results, marking a decisive return to profitability and underlining its leadership in Rwanda’s telecom sector.
The telco’s impressive six-month results to 30 June 2025, show that service revenue rose 13.1% to $108.4 million (Rwf 137.4 billion), while profit after tax rebounded to $4.97 million (Rwf 6.3 billion) from a loss in the previous year.
Subscriber growth was equally robust, with total users up 3.5% to 7.8 million. Mobile Money (MoMo) continued its surge, recording a 29.1% revenue increase to $54.1 million (Rwf 68.6 billion), supported by a 29.7% rise in active merchants to 572,000.
MoMo’s, a mobile financial service offered by MTN in various African countries, including Rwanda, transaction values soared to $17.3 billion (Rwf 21.9 trillion) in the period.
This outstanding performance comes a week before Africa’s largest telecom operator unveils its half-year results, when MTN Group has signalled a dramatic swing back to profitability thanks to solid performances from its other key markets in Nigeria, Ghana, and Uganda.
After two turbulent years of squeezed earnings, battered by inflation, stiff competition, and high network upgrade costs, the first half of 2025 appears to have turned the tide. Investors are watching closely, as early signals point to the group’s robust interim performance in recent years.
MTN Rwanda CEO Ali Monzer said the results reflect a clear and proven strategy built on disciplined execution, cost efficiencies, and bold investment in next-generation infrastructure.
“With the successful launch of 5G, accelerated 4G migration, and relentless focus on cost efficiencies, we are positioning MTN Rwanda to lead the market in both relevance and resilience,” Monzer said.
The company became the first to commercially launch 5G in Rwanda in June, a milestone Monzer described as “a transformative step in aligning with Rwanda’s Vision 2050 and advancing the country’s digital transformation.”
Mobile Money Rwanda CEO Chantal Kagame underlined that fintech growth was central to the company’s mission.
“Through strategic partnerships and innovations like the MoMo virtual card and K’avance, we are deepening financial inclusion and building a stronger ecosystem for all Rwandans,” she stated.
With EBITDA up 43.7% to $44.3 million (Rwf 56.1 billion) and margins improving by 9.1 percentage points, acting CFO Dunstan Ayodele Stober said the second half of 2025 “will be even stronger” as MTN Rwanda drives efficiency and invests strategically in its network.
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