Rwanda, Dec 10 – MTN Rwanda company’s officials have stated that the multinational mobile telecommunications company is close to escalate its revenues in a region of close to $106M before the end of 2017.
This places the firm in the class of among the highest earners in Rwanda. The telco is the biggest telco in Uganda by market share.
In 2016, the company closed the year with earnings of $90 million.
The Chief Executive of MTN Rwanda, Bart Hofker said that already 2018 looks promising and will look into investing in technology for further boosts.
In 2017, the firm had invested around Rwf15.4 billion to increase its networking grounds and will expand the budget to Rwf17.1 billion in 2018.
The investments plan includes widening the 3G coverage around the country for internet speed, and improves penetration.
The revenue projections came as a surprise to many that expected a rather poor show for the telco after the firm had been handed an $8.5 million fine by Rwanda Utilities Regulatory Authority (RURA).
The firm firmly stated that the fine would have affected their sublime performance but their tenacity proved otherwise. The fine will be finalized by the end of 2017, as believed by the company.