MTN Rwandacell Plc held its Annual General Meeting (AGM), presenting shareholders with the company’s 2024 Integrated Annual Report and outlining a clear roadmap for renewed growth, innovation, and value creation in 2025.

Despite a challenging economic environment in 2024, MTN Rwanda maintained commercial momentum, strengthened its operational execution, and laid the foundation for a return to profitability.

Addressing shareholders, Chairperson Faustin Mbundu states, ” 2024 tested our resilience, but it also reaffirmed our commitment to inclusive, digital-led growth. Through strong governance and a clear strategy, MTN Rwanda delivered tangible results across connectivity, fintech, and sustainability. We enter 2025 with cautious optimism and a firm belief in our ability to unlock long-term value for Rwanda and our shareholders.”

Commenting on the company’s performance and future direction, CEO Monzer Ali said:
“At MTN Rwanda, we remain focused on leading digital solutions for Rwanda’s progress. While the past year presented external challenges, we responded with agility modernising our infrastructure, deepening financial inclusion, and expanding 4G penetration to pave the way for 5G readiness. The positive profit turnaround in Q4 2024 is a strong signal that our strategy is working. In 2025, we’ll double down on customer-centric innovation by offering smarter, more accessible digital solutions that address real needs whether it’s enabling SMEs with affordable internet, expanding MoMo services, or making smartphones and connectivity more accessible to underserved communities. Our focus remains on delivering relevant, reliable, and future-ready experiences that truly resonate with our customers.”

 Resolutions passed during the Annual General Meeting included the approval of the audited financial statements, the Directors’ and Auditor’s Reports, as well as the 2024 Integrated Annual Report. Shareholders approved the decision not to declare a dividend for the 2024 financial year to allow for a reassessment of the company’s financial position and growth prospects. Shareholders ratified the appointment of Mr. Monzer Ali as Chief Executive Officer and approved his appointment as Executive Director. Ernst & Young Rwanda Ltd was reappointed as external auditors, with the Board authorised to determine their remuneration.

Looking ahead, MTN Rwanda reaffirms its commitment to five key priorities for 2025 commercial growth, fintech and platform expansion, infrastructure modernization, operational efficiency, and deepening ESG impact.

About MTN Rwandacell 

 MTN Rwandacell Plc (MTN Rwanda) is the market leader in mobile telecommunications in Rwanda. Since 1998, we have continuously invested in expanding and modernising our network and leading digital solutions for Rwanda’s progress. As the country’s No 1 network, we offer various services to subscribers, including innovative propositions such as personalised voice and data offers for individuals and corporates with a clear vision to lead the delivery of a bold, new digital world to our customers because we believe everyone deserves the benefits of a modern connected life.

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MTN PR Desk

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www.mtn.co.rw