MTN Rwanda charts course for growth and innovation at Fifth Annual General Meeting
Date: 2025-07-01
MTN Rwanda has reaffirmed its commitment to delivering inclusive, digital-led growth with a renewed focus on innovation and value creation for the future. At its fifth Annual General Meeting (AGM), held this week, shareholders were presented with the company’s 2024 Integrated Annual Report alongside a bold roadmap for renewed growth in 2025.
Opening
the meeting, Board Chairperson Faustin Mbundu offered a reflection on the past
year, noting that while 2024 presented significant challenges, it was also a
period that tested and strengthened the company’s resilience. He underscored
the importance of strong governance and a clear strategic direction in enabling
MTN Rwanda to deliver meaningful results across its core areas—connectivity,
financial technology, and sustainability. According to him, the company enters
2025 with cautious optimism and a firm belief in its ability to unlock
long-term value for both the country and its shareholders.
Chief
Executive Officer Monzer Ali outlined the company's strategic vision for the
year ahead, emphasizing five key priorities aimed at restoring profitability
and reinforcing MTN Rwanda’s position as the nation’s leading digital platform.
These priorities include driving commercial growth by expanding the subscriber
base and meeting the growing demand for data and digital services. He also
emphasized the importance of accelerating MTN’s platform business, particularly
in positioning fintech and enterprise solutions as vital engines for sustainable
growth and diversification.
Further,
the company plans to modernize its infrastructure through continued investment
in network coverage, service quality, and digitization. This will be
complemented by enhanced operational efficiency, achieved by optimizing costs
and leveraging smarter, more cost-effective technologies. CEO Monzer also
highlighted the company’s ambition to deepen its Environmental, Social, and
Governance (ESG) impact, creating inclusive and lasting value for Rwandans
across all sectors of society.
Chief Executive Officer Monzer Ali
Chief Financial Officer Dunstan Ayodele Stober added that despite the economic pressures faced in 2024, MTN Rwanda has remained resilient and forward-looking. He pointed to several strong indicators of performance, including a 4.6% increase in service revenue and a significant 30% growth in MoMo revenue, reflecting the robustness of the company’s mobile financial services. The year also saw strategic investments in network modernization and 5G readiness, positioning the company for long-term technological leadership. A strong performance in the final quarter of 2024 signaled a positive shift, boosting confidence in MTN Rwanda’s recovery trajectory.
By: Kanto Kai Okanta
