Telco’s Revenues up by 2.7 percent in second quarter

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Telco’s Revenues up by 2

The country’s budding telecom sector registered an increase of 2.7 percent in its revenues in the second quarter of this year, projecting a positive outlook for this year.

The sector including internet service providers reported earning worth Rwf36.5 billion in the second half of this year up fromRwf35.6 billion recorded in the first quarter of the year.

According to statistics from the sector regulator, Rwanda Utilities and Regulatory Authority, Rura Airtel  grew  its revenues by  Rwf 1billion  from Rwf3.7 billion from Rwf2.7 billion in the first six months of the year, while MTN, the market leader registered  Rwf20.2 billion in the second  half of the year  from Rwf19.8 billion.

Meanwhile, Tigo Rwanda, the second Market leader by subscriber base reported Rwf10.2 billion up from Rwf10 billion in the forts half of 2014 with Liquid Telecom, internet provider recorded Rwf1.5 billion.

The report also indicates that indicate that mobile users increased to   7.2 million while internet users were 2.6 million.

The surging subscriber base coupled with   increased   investment has seen more innovative products on the telecom market which is believed to have contributed to the positive performance.

“Innovation is key. This is just the beginning,” Said Tongai Muramba, General Manager at Tigo Rwanda

Experts are optimistic that the investment would level the ground for the   stiff competition the sector is braving for mainly driven by mobile banking as well as the 4G LTE internet.

Recently,  Airtel  moved in to provide  free transactions on its  mobile money platform-Airtel money as Tigo  followed suit to award  its  clients with cash prices while transacting   through its  platform .

Accordingly, a total   of Rwf5.1 billion in investment was realizedin the second quarter up from Rwf3.2 billion in the first six months of the year with Tigosecond market leader, investing Rwf4 billion up from the Rwf2.6 billion in the first half of 2014.

MTN Rwanda, the market leader pumped in Rwf826 million from Rwf620 million in the first quarter.

While   internet providers such as broadband services Corporation-BSC  trimmed its investment portfolio to Rwf114.99 million from Rwf126.5 million  in the first quarter of the  year.


About the author

Olive Ndaka is the Junior Editor for RwandaEye. An investor and young entrepreneur, she is a quick learner and has contributed many articles for RwandaEye in Kinyarwanda.

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