MTN Rwanda seeks USD56m loan

7 Nov 2018

MTN Rwanda is reportedly seeking a loan of up to RWF50 billion (USD56.4 million) to upgrade its mobile networks. The New Times writes that the cellco has approached a consortium of eight lenders as it looks to secure investment capital for the upgrade works. Bart Hofker, MTN Rwanda’s CEO, confirmed that the company is seeking a loan, saying it is on a ‘growth trajectory’ and has embarked on ‘an extensive capital expenditure investment programme for the coming years’.

According to TeleGeography’s GlobalComms Database, MTN controls around 45% of Rwanda’s mobile market in terms of subscribers, with the merged Airtel/Tigo accounting for the remainder.

Rwanda, MTN Rwanda