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MTN Rwanda’s Profit Surges 467% as Data and MoMo Fuel Growth
Uwajeneza Donatha
May 12, 2026 - 12:42
MTN Rwanda posted a sharp rise in first-quarter 2026 earnings, driven by strong growth in data usage, Mobile Money services and a supportive regulatory environment that continues to accelerate Rwanda’s digital economy.
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The telecom giant, one of the four companies have 40% of Rwanda's GDP, announced that profit after tax jumped by 466.6% to Rwf 8.3 billion in Q1 2026, while service revenue increased by 21.2% year-on-year to Rwf 81.4 billion. The growth was recorded across all key business segments including voice, data and Mobile Money, reflecting rising demand for digital and financial services among Rwandans.
MTN Rwanda’s subscriber base expanded by 10.6% to reach 8.4 million customers, while active data users rose by 19.6% to 2.7 million. Monthly active Mobile Money users also climbed by 20.5% to 6.3 million, highlighting the growing adoption of fintech solutions in the country.
Data revenue grew by 10.7%, supported by a 64.7% increase in data traffic, continued migration from 3G to 4G services and smartphone penetration that reached 44.9%. Voice revenue also recovered strongly, growing by 8.2% after the reintroduction of mobile termination rates, a policy adjustment that helped restore balance in Rwanda’s telecom interconnect market.
Chief Executive Officer Monzer Ali said Rwanda’s stable and predictable regulatory framework continues to encourage investment and innovation in the sector.
He noted that the company’s latest results reflect disciplined execution, improved customer experience and expanding access to digital services across the country.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 32.8% to Rwf 34 billion, while EBITDA margin improved to 41.5%. MTN Rwanda also invested Rwf 11.2 billion in network expansion and service quality improvements during the quarter.
Mobile Money remained the company’s biggest growth engine, with revenue increasing by 30.2% and contributing 52.7% of total service revenue. Transaction volumes on the MoMo platform grew by 30.5%, with more than four million customers now using MoMoPay for daily transactions.
During the quarter, MoMo Rwanda launched MoFlex, a digital credit solution developed in partnership with Ecobank Rwanda and Yabx, aimed at expanding access to loans for individuals and businesses.
Chief Executive Officer Chantal U Kagame said the company remains focused on deepening financial inclusion by expanding practical digital financial services for all Rwandans.
Beyond business growth, MTN Rwanda also strengthened its contribution to Rwanda’s digital transformation agenda through a partnership with the Ministry of Education. The collaboration led to the launch of the Digital Skills for Digital Jobs platform under the MTN Skills Academy, which offers free access to more than 500 courses in digital literacy, financial capability and data analytics.
The company now heads into the rest of 2026 with strong momentum, betting on continued subscriber growth, expansion of advanced fintech services and sustained investment in Rwanda’s fast-growing digital economy.
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