MTN Rwanda Profit After Tax Surges 160% in H1'25 Driven by MoMo and Data Growth

MTN Rwanda has posted a significant financial turnaround, with profit after tax (PAT) surging by 160% year-on-year (YoY) to Rwandan Francs (Rwf) 6.3 billion in the first half of 2025. This represents a recovery from a Rwf 10.5 billion loss after tax in the same period of 2024. The company attributes the sharp improvement to disciplined execution of its commercial strategy, agile decision-making, and a strong focus on cost optimization [1].

Total revenue for MTN Rwanda increased by 11.4% YoY to Rwf 138.8 billion, driven by a 13.1% rise in service revenue to Rwf 137.4 billion. The growth in service revenue was fueled by double-digit performance in fintech and data segments. Mobile Money (MoMo) revenue grew by 29.1% to Rwf 68.6 billion, while data revenue rose by 10.1% to Rwf 23.3 billion. MoMo’s contribution to total service revenue increased to 49.9%, up from 43.7% in the first half of 2024 [2].

The company’s EBITDA also saw a strong performance, rising by 43.7% YoY to Rwf 56 billion, with an EBITDA margin of 40.4%. This growth was driven by increased data usage and MoMo transactions, alongside cost efficiency measures. The subscriber base reached 7.8 million as of mid-2025, reflecting a 3.5% YoY increase. Although Q1 saw a marginal subscriber decline, Q2 delivered a strong rebound with 153,000 new subscribers added [3].

MTN Rwanda’s CEO, Monzer Ali, highlighted the company’s strategic focus on value-driven capital allocation and operational productivity as key enablers of the turnaround. The performance aligns with Rwanda’s broader economic growth, where the ICT sector expanded by 18% YoY in the first quarter of 2025. With a moderated inflation rate averaging 5.7% in H1 2025, compared to 7.7% in the prior year, the environment appears conducive to sustained business performance [1].

Looking ahead, MTN Rwanda plans to build on this momentum by accelerating the rollout of 5G services and maintaining a disciplined approach to expenses and capital allocation. The company emphasized its commitment to delivering a compelling customer value proposition through targeted network investments and tighter cost controls, which have collectively contributed to margin expansion and a return to profitability. As the telecom sector continues to evolve, MTN Rwanda’s performance in H1 2025 underscores its resilience and strategic adaptability in a competitive market [3].

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[1] MTN Rwanda's profit after tax surge by 160% in H1'25, ... (https://technext24.com/2025/08/15/mtn-rwanda-profit-after-tax-surge-by-160/)

[2] MTN Rwanda posts 6.3bn profit after tax as firm bounces back to profitability (https://www.businesspostrwanda.com)