Telecom revenues are on the rise in Rwanda. Rwanda’s telecommunication and internet service companies earned a total of RWF 36.5 billion during Q2. This is according to the latest figures revealed by the Rwanda Utilities Regulatory Agency (RURA).
This is a 2.7 percent increase from the RWF 35.6 billion recorded in Q1. MTN Rwanda revenues grew marginally to RWF 20.2 billion over the period, from RWF 19.8 billion during the first quarter.
Tigo recorded RWF 10.2 billion in revenue, up from RWF 10 billion, while Airtel earned RWF 3.7 billion, up from RWF 2.7 billion. Liquid Telecom reported RWF 1.5 billion revenues, followed by BSC, Artel, Axiom Networks and ISPA, with 4G Networks Rwanda trailing.
According to RURA, the firms invested a total of RWF 5.1 billion during the second quarter, up from RWF 3.2 billion in the first. Tigo Rwanda was notably the largest investor at RWF 4 billion compared to RWF 2.6 billion in the first quarter. MTN’s investments went up from RWF 620 million to RWF 826 million, while BSC invested RWF 114.99 million, up from RWF 126.5 million up in the first quarter.
With the telecom revenues on the rise, Tigo DRC has invested in a new GM. Tigo DRC has appointment Uche Ofodile as the new General Manager with effect from 01 October 2014.