MTN Rwandacell Plc (MTN Rwanda) is pleased to announce its interim financial results for the six months ended 30 June 2026, delivering strong growth across voice, data and Mobile Money.
The first half (H1) of 2026 marked another step forward in Rwanda’s digital transformation journey, with more individuals, entrepreneurs and communities gaining access to the connectivity and financial services that support participation in the modern economy.
Service revenue increased 21.9% year-on-year to Rwf 167.5 billion, while delivering a profit after tax of 17.2 billion, as more Rwandans turned to MTN for their everyday connectivity and financial needs.
The Company’s subscriber base grew 11.4% to 8.7 million, with active data subscribers up 14.5% to 2.7 million and active Mobile Money users up 14.9% to 6.4 million, demonstrating sustained demand for MTN’s services across the country. Data revenue increased 14.3% to Rwf 26.7 billion, supported by a 63.6% rise in data traffic as more customers took up affordable data bundles and moved to smartphones. This growth reflects the increasing role that digital connectivity plays in empowering individuals, supporting businesses and expanding access to opportunities across Rwanda.
Voice revenue grew 7.1%, supported by subscriber growth and the reintroduction of mobile termination rates in August 2025.
Monzer Ali, MTN Rwanda’s Chief Executive Officer, said:
“While we are encouraged by our performance in the first half of the year, what matters most is the impact behind the numbers. Every new smartphone connected, every entrepreneur paid through Mobile Money, and every community reached through our network represents another step towards a more connected, inclusive and digitally empowered Rwanda.
The growth we have seen across voice, data and Mobile Money reflects the increasing role digital services play in people’s daily lives. As demand continues to grow, we remain committed to investing in the network, technologies and partnerships that expand access, create opportunities and support Rwanda’s vision of a digitally enabled economy. Our progress is not only reflected in business performance, but in the role, we continue to play in connecting people, empowering businesses and enabling shared prosperity.”
Mobile Money Rwanda Ltd (MMRL), MTN Rwanda’s subsidiary, continued its strong contribution to the business, with MoMo revenue growing to 31.3% YoY to Rwf 90.1 billion, now accounting for 53.8% of service revenue (H1 2025: 49.9%). Active merchants on the platform grew 19.2% to 682,000, a sign of how many more Rwandan businesses are turning to MoMo as their preferred payments gateway, while advanced services, including remittances and lending, grew by 28.1% to reach 28.4% of MoMo revenue.
“Every merchant who chooses to accept MoMo and every customer who chooses to save, borrow or send money through our platform is choosing a service that supports their daily life and economic aspirations. Growing to 682,000 active merchants shows how deeply mobile money has become embedded in the way Rwandans transact, run businesses and participate in the economy. We remain focused on making that experience simpler, more secure and more accessible for every Rwandan,” said Chantal U Kagame, Chief Executive Officer, Mobile Money Rwanda Ltd.
EBITDA grew to 30.4% to Rwf 70.5 billion, with margin expanding 2.8 percentage points to 41.8%, supported by savings delivered through the Company’s Expense Efficiency Programme. Capex, excluding leases, was largely unchanged at Rwf 11.2 billion, while adjusted free cashflow rose 38.7% to Rwf 59.3 billion.
“Our H1 2026 results show the value of pairing strong commercial growth with financial discipline. EBITDA and free cashflow both grew significantly this half while we held our capital spend steady, giving us a solid financial base to continue investing in the network and digital infrastructure that our customers, businesses and communities depend on,” said John Bugunya, Chief Financial Officer, MTN Rwandacell Plc.
On the creating shared value front, MTN Rwanda’s annual 21 Days of Y’ello Care campaign in June, themed “Expanding Equitable Health for Every Community”, brought employees and partners together to support healthcare access across the country. At Kigese Health Centre in Rugarika Sector, Kamonyi District, MTN Rwanda supported the renovation of the maternity ward and the expansion of the health centre laboratory, a facility serving roughly 61,000 people and supporting 50 to 60 deliveries a month.
As we look to the second half of 2026, MTN Rwanda remains focused on sustaining this growth, deepening financial inclusion through MoMo and continuing to invest in the quality and reach of its network. By enabling greater access to connectivity and digital financial services, MTN Rwanda will continue supporting Rwanda’s socio-economic development and digital transformation ambitions.
We thank our customers and stakeholders for their continued support and remain committed to delivering the benefits of a modern connected life to every Rwandan.