MTN Rwanda Posts Strong First Quarter, Driven by Digital Services

MTN Rwanda has announced a return to profitability in the first quarter of 2026, marking a significant turnaround from losses recorded during the same period last year. The company reported a profit after tax of Rwf 10.8 billion ($6.8 million) for the three months ending March 31, 2026.

The improved performance was largely fueled by robust growth in data usage and mobile money services. Service revenue increased by 14.7% year-on-year to Rwf 295.7 billion ($200.78 million), while earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 17.3% to Rwf 106.8 billion ($72.52 million).

Key Growth Drivers:

• Active data subscribers rose 14.1% to 2.8 million
• Monthly active MoMo users increased 17.3% to 6.2 million
• Data revenue grew by 15.6%
• Fintech (MoMo) revenue jumped by 27.6%

The company’s CEO, Monzer Ali, attributed the positive results to a focus on customer affordability, operational efficiency, and continued investment in digital capabilities.

Rwanda’s Digital Economy Momentum

MTN Rwanda’s recovery aligns with broader trends in Rwanda’s economy, which expanded by 9.4% in 2025 (up from 7.2% the previous year) driven by services and industry sectors. While inflationary pressures have emerged in early 2026—with urban inflation averaging 7.6% and energy prices rising 25.5%—the telecom sector continues to demonstrate resilience.

Despite remaining a smaller market compared to MTN’s operations in Nigeria or South Africa, Rwanda is emerging as one of Africa’s fastest-growing digital economies with strong adoption rates for mobile money services.