The telecom operator announced on Monday that its service revenue grew by 21.2% year-on-year to Rwf 81.4 billion, as more customers adopted digital and financial services on its network.
The company said the performance reflected “disciplined commercial execution” within what it described as a supportive regulatory environment that continues to encourage investment and innovation in Rwanda’s digital economy.
MTN Rwanda’s subscriber base increased by 10.6% to 8.4 million customers during the quarter. Active data users rose by 19.6% to 2.7 million, while monthly active mobile money users grew by 20.5% to 6.3 million.
Mobile money remained the company’s strongest revenue driver, growing by 30.2% and contributing 52.7% of total service revenue.
Transaction volumes on the MoMo platform increased by 32% during the quarter, reflecting growing reliance on digital payments among individuals and businesses.
The company said more than four million customers are now transacting through MoMoPay, as digital financial services continue gaining traction across the country.
During the quarter, Mobile Money Rwanda also launched “MoFlex”, a flexible credit product developed in partnership with Ecobank Rwanda Plc and Yabx, aimed at expanding access to credit for individuals and businesses.
Chantal Kagame, Chief Executive Officer of Mobile Money Rwanda Limited, said customer trust in MoMo services continues to drive growth beyond payments into broader financial services.
“Beyond payments, we are deepening access to financial services, enabling businesses, supporting lenders and creating practical solutions that work for every Rwandan,” she said.
Data revenue rose by 10.7%, supported by a 64.7% increase in data traffic as more subscribers migrated from 3G to 4G smartphones. Smartphone penetration on the network reached 44.9%.
Voice revenue also recovered strongly, increasing by 8.2% after the reintroduction of mobile termination rates, which the company said helped restore commercial balance in the interconnect market.
MTN Rwanda Chief Executive Officer Monzer Ali said Rwanda’s regulatory framework continues to provide confidence for long-term investment and expansion.
“With a clear policy direction and unwavering focus on equality of access to digital services for all Rwandans, investment decisions are easier and we can focus on what matters most: product innovation, providing quality customer experience and delivering second to none connectivity operations,” he said.
The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 32.8% to Rwf 34 billion, while EBITDA margins improved to 41.5%.
MTN Rwanda also invested Rwf 11.2 billion in capital expenditure during the quarter to expand network coverage and improve service quality.
Beyond commercial performance, the telecom firm continued supporting Rwanda’s digital agenda through partnerships in education and skills development.
During the quarter, MTN Rwanda signed a memorandum of understanding with Rwanda’s Ministry of Education to explore digital solutions for the education sector and launched a Digital Skills for Digital Jobs platform under the MTN Skills Academy.
The academy offers free access to more than 500 courses in digital literacy, data analytics and financial capability.
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