MTN Rwanda returned to profit in the first quarter of 2026 after strong growth in internet and mobile money services.
The telecom company reported a profit after tax of Rwf 10.8 billion for the quarter ending March 31, 2026. This marked a recovery from the net loss recorded during the same period in 2025.
Revenue and EBITDA Growth
MTN Rwanda’s service revenue increased by 14.7% year on year to Rwf 295.7 billion.
EBITDA, which measures operating profitability, grew by 17.3% to Rwf 106.8 billion. The EBITDA margin also improved to 35.8%, compared to 32.7% in the previous year.
Growth Driven by Data and Fintech
The company’s growth was mainly supported by rising internet use and mobile money services.
Active data subscribers increased by 14.1% to 2.8 million users. Monthly active users of the MoMo platform rose by 17.3% to 6.2 million.
Revenue from data services grew by 15.6%, while fintech revenue from MoMo services increased by 27.6%.
Digital Economy Expansion
MTN Rwanda said the results reflect continued growth in Rwanda’s digital economy. Increased data usage and home broadband adoption during late 2025 also strengthened the company’s performance.
Chief Executive Officer Monzer Ali said the company remains focused on affordability, efficiency, and investment in future growth opportunities.
Economic Environment
Rwanda’s economy recorded GDP growth of 9.4% in 2025, supported by strong performance in services and industry sectors.
However, inflation pressures increased in early 2026. According to National Institute of Statistics of Rwanda, urban inflation averaged 7.6% between March 2025 and March 2026. Energy prices also rose significantly.
National Bank of Rwanda raised its benchmark interest rate to 7.25% in February 2026 to control inflation.
Network Expansion Continues
Despite economic pressures, MTN Rwanda continued investing in digital infrastructure.
The company expanded 4G population coverage to 94.8% and continued the rollout of 5G services across the country.
Compared to larger markets such as Nigeria and South Africa, Rwanda remains a smaller telecom market. However, mobile money adoption in Rwanda continues to grow rapidly as the country advances financial inclusion and digital payment systems.
MTN Rwanda described the return to profitability as a positive start to 2026 while continuing its long term “Ambition 2025” strategy.
