MTN Rwanda posts solid earnings growth

MTN Rwanda, the leading telecom operator in the country, has faced a challenging year following a directive by the Rwanda Utilities Regulatory Authority (RURA) to cut local mobile termination rates to zero. This decision has had a significant impact on the company, leading to increased pricing aggression and value destruction in the market. To shed light on the company's performance and key highlights for the year ending December 2023, CNBC Africa sat down with Mark Nkurunziza, the CFO of MTN Rwanda. In the interview, Nkurunziza discussed the company's audited financial results, highlighting some of the key challenges and opportunities that lie ahead for MTN Rwanda. Despite the turbulent market conditions, the company has shown solid earnings growth, a testament to its resilient business model and strategic initiatives. Key Points: 1. Financial Performance: MTN Rwanda has managed to post solid earnings growth despite the challenging operating environment. The company's ability to navigate through the pricing pressures and market dynamics reflects its strong position in the telecom industry. 2. Strategic Focus: Nkurunziza emphasized the company's commitment to diversifying its revenue streams and expanding its platform business. MTN Rwanda is looking to leverage advanced services to drive growth and enhance customer experience. Additionally, the company is prioritizing its ESG initiatives to promote a green economy and align with its mission. 3. Future Outlook: Looking ahead, MTN Rwanda aims to overcome the current market challenges by focusing on innovation, customer-centric solutions, and sustainable business practices. The company remains optimistic about its growth prospects and is determined to capitalize on emerging opportunities in the telecom sector. As MTN Rwanda navigates through a period of uncertainty and disruption, the company's resilience and strategic vision will play a crucial role in shaping its future trajectory. By anchoring its growth strategy on financial stability, innovation, and sustainability, MTN Rwanda is poised to emerge stronger and more competitive in the market.