MTN Rwanda has reached 7.6 million active subscribers in 2024, reflecting a 5.1 percent year-over-year growth, according to its financial year report for 2024 released on Thursday.
This significant milestone reinforces MTN’s position as the leading telecommunications provider in Rwanda, showcasing its ability to expand its customer base despite industry challenges.
The company also reported growth across other key segments, including Mobile Money (MoMo), which saw a rise to 5.3 million active users, and home broadband, which grew by 27 percent to 11,600 subscribers.
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Expanding coverage and enhancing connectivity
By finishing Kigali’s network renovation and making it more connected, digital, and effective, MTN also stayed true to its goal of providing a better customer experience.
MTN Rwanda has increased its network population coverage to 99.7 percent and broadband coverage to 87.0 percent as part of its ongoing efforts to assist Rwanda’s digital economy.
In order to help close the digital gap for Rwandans, MTN Rwanda kept pushing smartphone access during this time, achieving a 36.8 percent YoY increase in smartphones on its network compared to the same period last year, now totaling 2.7 million devices.
As more consumers adopted MTN Rwanda’s quick, dependable, and effective home connectivity options, home broadband subscribers increased by 27 percent to 11, 600.
This expansion demonstrates the faith and assurance of MTN’s devoted clientele, who continue to gain from improved digital offerings catered to their changing requirements.
“2024 had its share of ups and downs, but we’re pleased to have ended the year strong,” said CEO Bodibe Mapula of MTN Rwanda.
“The profit turnaround we witnessed in Q4 demonstrated our resilience and commitment to achieving our goals. We focused on expanding our network and increasing 4G coverage to support the growth in subscribers,” Mapula explained.
“At MTN Rwanda, we are not leaving anyone behind because we believe everyone deserves to enjoy the benefits of a modern connected life,” she added.
“As we move into 2025, we are not settling for less for Rwandans! We are going to keep making progress, improving our network, and contributing to the efforts to build a more connected and digitised Rwanda,” the CEO continued.
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MoMo leads digital financial revolution with 5.3 million active customers
With 5.3 million active customers by 2024, Mobile Money Rwanda Limited (MoMo Rwanda) is leading Rwanda’s digital financial revolution. A significant shift toward digital financial services in Rwanda was reflected in the remarkable revenue growth of 30.3 percent YoY that resulted from this quick adoption.
MoMo is being used by more consumers and businesses than ever before for regular payments, savings, loans, and easy money transfers between wallets and banks as well as domestically and abroad.
MoMoPay’s merchant network expanded to more than 520,000, while the number of active users increased from 2.7 million in 2023 to a record 3.2 million.
Rwandans are adopting digital financial solutions in their daily lives, as evidenced by innovations like MoMoCard, which are propelling the country’s cashless economy and enabling consumers to make safe payments both domestically and abroad.