Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

Business of Tech

MTN grows market share to almost 65% in Rwanda

Article Image
MTN has increased its market share in Rwanda and now services 64.6% of mobile users in the country.

That's according to an update from MTN Rwanda's CEO, Mitwa Ng'ambi, as part of the operator's Q1 trading update published on Friday.

Ng'ambi said MTN recorded a solid first-quarter performance with mobile subscribers growing 5% year-on-year (YoY) to 6.5 million by the end of March 2022.

More subscribers are also using MTN Mobile Money (MoMo) and data services in the small East African nation.

Active data users increased by 26.3% YoY to 2.2 million and MoMo users increased by 12.1% to 3.8 million.

MTN Rwanda's service revenue increased by 24.5% YoY to 50.9 billion Rwandan francs (US$49.7 million) and earnings before interest, tax, depreciation, and amortization (EBITDA) grew by 15.7% to Rwf24.7 billion (US$24 million) for the quarter.

Data revenue maintained its positive momentum, rising by 13.8% – accounting for 17.1% of service revenue in Rwanda – while data traffic also increased 33.3% YoY.

"In the first quarter, Rwanda's economy made a rebound as domestic conditions improved following the easing of mobility restrictions. Latest figures from Rwanda's National Institute of Statistics show a forecast of 7% growth for 2022, following a 10.9% growth in 2021," Ng'ambi said of Rwanda's economic outlook.

Uganda ups its game

MTN's operation in neighboring country Uganda also saw growth across the board according to its Q1 trading update published earlier in the week.

In Uganda, MTN's mobile subscribers increased by 8.5% to 15.9 million. Active data subscribers also grew by 20.1% to 5.4 million while fintech customers increased by 14.9% to 9.5 million.

MTN Uganda's service revenue grew by 11% YoY for the quarter, to 536.3 billion Ugandan shillings (US$151 million). Data revenue was up by 45% to Ush115.6 billion (US$32.6 million) and Fintech revenue grew 20.7% to Ush 144.8 billion (US$40.8 million).

MTN Uganda CEO Wim Vanhelleputte said that the telco continues to drive digital inclusion in the country by lowering the price of its lower tier Internet bundles and improving smartphone affordability, including through a partnership with fintech financing platform M-KOPA announced in March.

Smartphone penetration on the MTN Uganda network increased to 31.4% at the end of March 2022, compared to 24.2% the previous year.

Related posts:

*Top image is of Mitwa Ng'ambi, CEO of MTN Rwanda. (Source: MTN).

Paula Gilbert, Editor, Connecting Africa

Innovation hub

Story

Africa can leverage GenAI for economic growth – Microsoft

A whitepaper on generative artificial intelligence (GenAI) and the future of work has found that the African continent, with its young population, can leverage AI to drive economic growth.

Registration opens for Africa Tech Festival 2024

Registration has opened for the 2024 edition of Africa Tech Festival, the continent's leading platform for technology innovators, specialists and thought leaders.

More Innovation hub

Latest video

More videos

Partner perspectives

All Partner Perspectives

Sponsored video

More videos

Follow us on X

Industry announcements

More Industry announcements

Upcoming events

Cyber Revolution Summit
August 9, 2024
Gaborone, Botswana
Africa Tech Festival 2024
November 11-14, 2024
Cape Town, South Africa
More Upcoming events

Africa Tech Perspectives

Story

Uber's Marjorie Saint-Lot on inclusion and sustainability in Africa

Uber's Country Manager for Ghana and Cote d'Ivoire, Marjorie Saint-Lot, shares how the ride-hailing company is approaching public-private partnerships, environmentally friendly initiatives and gender inclusion in Africa.

Story

The 100 most influential African leaders in 2023

A new report from Africa Tech Festival and Connecting Africa puts a spotlight on the top 100 African leaders in the telecoms and technology sector in 2023.

Story

Deep dive into East Africa's tech startup ecosystem

New survey reveals a lack of access to investors, reliance on international VCs and global recession trends as the biggest barriers for East African tech startups to access funds.

More Africa Tech perspectives

Guest Perspectives

Story

Omdia View: May 2024

By Omdia Analysts

May 2024's telecoms highlights in the Middle East and Africa included African 5G subscriptions surpassing 5 million, growth from SpaceX's satellite Internet service Starlink, and a major fiber partnership in the Middle East and North Africa.

Story

How e-mobility could transform Africa's transport sector

By Francis Hook

ICT analyst Francis Hook delves into Africa's e-mobility sector and unpacks the challenges faced locally and the benefits the move to electric vehicles could bring to urban transport systems.

More Guest Perspectives

Like us on Facebook

Newsletter Sign Up


Sign Up
Tag id test-002