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MTN Rwanda

MTNR · Rwanda Stock Exchange · Incorporated in Rwanda · Consolidated statements

On this page
Company details
Legal name
MTN Rwandacell Plc
Incorporated in
Rwanda
Listing
MTNR on the Rwanda Stock Exchange, active (observed 2026-10-06)
Sector
Telecommunications (our classification from the stated principal activity)
Activity
Mobile telecommunications, fintech (mobile money) and ICT services.
Financial year ends
31 December

Overview

Year ended 31 December 2025 · audited financial statements, signed / final · source

  • Revenue

    RWF 297 billion

    296,621,727 RWF thousands · p11

    +14.3% vs 2024

  • Operating profit / (loss)

    RWF 56.0 billion

    55,967,126 RWF thousands · p11

    +48.9% vs 2024

  • Profit / (loss) for the year

    RWF 10.8 billion

    10,777,355 RWF thousands · p11

    Moved from loss to profit (FY2024: (5,371,842) RWF thousands)

  • Total assets

    RWF 723 billion

    722,963,593 RWF thousands · p12

    +17.7% vs 2024

  • Total equity

    RWF 58.0 billion

    57,962,547 RWF thousands · p13

    +22.8% vs 2024

  • Cash from operations

    RWF 120 billion

    119,748,194 RWF thousands · p15

    +109.4% vs 2024

Large amounts are rounded for reading (RWF million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in RWF thousands unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — audited financial statements, signed / final; reported for the year · source
  • FY2024 — audited financial statements, signed / final; comparative in the FY2025 filing · source
  • FY2023 — audited financial statements, signed / final; comparative in the FY2024 filing · source

Income statement

Income statement, RWF thousands. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025; FY2023 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2024.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filingFY2023Audited financial statementscomparative in FY2024 filing
Revenue 296,621,727 259,564,827 247,995,478
Other income 1,609,039 2,062,840 1,390,324
Total income1 298,230,766 261,627,667 249,385,802
Direct network operating costs2 (48,645,982) (40,905,965)3 (26,158,737)
Government and regulatory costs4 (13,977,647) (16,122,868) (8,501,090)
Cost of handsets and other accessories5 (5,804,937) (8,746,344) (3,843,736)
Interconnection and roaming fees6 (6,642,811) (11,051,887) (13,795,965)
Employee benefits expense (26,214,639) (23,582,210) (18,125,664)
Sales, distribution and marketing costs7 (43,472,795) (38,721,931) (35,720,003)
Other operating expenses (43,434,254) (30,860,386) (26,998,572)
Credit Loss expense8 (3,222,394) (570,541) (441,948)
Depreciation on items of property, plant and equipment9 (20,560,215) (23,855,592) (25,823,859)
Depreciation – right of use asset1011 (15,183,388) (16,504,072)12 (21,267,579)
Amortisation of intangible assets13 (15,104,578) (13,114,484) (12,475,314)
Operating profit 55,967,126 37,591,38714 56,233,335
Finance income 947,334 1,475,095 1,026,609
Finance costs (38,614,661) (38,780,715)15 (43,895,201)
Profit before income tax 18,299,799 285,76716 13,364,743
Income tax expense (7,522,444) (5,657,609)17 (7,484,914)
Profit/(loss) for the year18 10,777,355 (5,371,842)19 5,879,829
Total comprehensive income for the year 10,777,355 (5,371,842)19 5,879,829
Notes and alternative reported figures (19)
  1. “Total income” is an issuer-specific line, not mapped to a shared definition: Revenue plus other income.
  2. “Direct network operating costs” is an issuer-specific line, not mapped to a shared definition: As printed.
  3. Audited financial statements dated 2025-03-13 prints (39,097,716) (thousands, p12) for this line and year.
  4. “Government and regulatory costs” is an issuer-specific line, not mapped to a shared definition: As printed.
  5. “Cost of handsets and other accessories” is an issuer-specific line, not mapped to a shared definition: As printed.
  6. “Interconnection and roaming fees” is an issuer-specific line, not mapped to a shared definition: As printed.
  7. “Sales, distribution and marketing costs” is an issuer-specific line, not mapped to a shared definition: As printed.
  8. Printed under different labels across filings: “Credit Loss expense”; “Credit Loss expense**”.
  9. Printed under different labels across filings: “Depreciation”; “Depreciation on items of property, plant and equipment”.
  10. “Depreciation – right of use asset” is an issuer-specific line, not mapped to a shared definition: Note 25.
  11. Printed under different labels across filings: “Depreciation - right of use asset”; “Depreciation – right of use asset”.
  12. Audited financial statements dated 2025-03-13 prints (17,824,411) (thousands, p12) for this line and year.
  13. Printed under different labels across filings: “Amortisation”; “Amortisation of intangible assets”.
  14. Audited financial statements dated 2025-03-13 prints 38,079,297 (thousands, p12) for this line and year.
  15. Audited financial statements dated 2025-03-13 prints (39,492,743) (thousands, p12) for this line and year.
  16. Audited financial statements dated 2025-03-13 prints 61,648 (thousands, p12) for this line and year.
  17. Audited financial statements dated 2025-03-13 prints (5,594,856) (thousands, p12) for this line and year.
  18. Printed under different labels across filings: “(Loss)/Profit for the year”; “Profit/(loss) for the year”.
  19. Audited financial statements dated 2025-03-13 prints (5,533,208) (thousands, p12) for this line and year.

Balance sheet

Balance sheet, RWF thousands. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025; FY2023 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2024.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filingFY2023Audited financial statementscomparative in FY2024 filing
Indefeasible rights of use assets (IRUs)1 6,902,353 8,295,835 10,018,843
Intangible assets 69,137,902 81,016,479 82,494,204
Property, plant and equipment 131,133,340 120,961,726 119,969,099
Capitalised contract costs22 1,109,723 1,611,397 Not reported in this filing3
Contract assets4 1,480,184 1,498,577 Not reported in this filing4
Non-current prepayments256 252,798 430,6887 615,843
Right of use assets 114,719,190 116,579,0558 119,468,186
Deferred tax assets 15,936,152 6,272,5249 –10
Total non-current assets 340,671,642 336,666,28111 332,566,175
Current income tax asset 449,430 390,239 3,621,809
Indefeasible rights of use assets (IRUs)**1213 1,393,482 1,543,84814 2,249,645
Contract assets4 656,763 595,473 Not reported in this filing4
Cash and cash equivalents 58,832,086 14,514,695 20,297,068
Mobile money deposits**1516 286,621,094 201,517,64217 153,059,615
Collective savings scheme deposits318 7,307,871 6,319,489 Not reported in this filing19
Restricted cash32021 879,315 55,14822 5,713,097
Capitalised contract costs**23 554,862 612,479 Not reported in this filing3
Mobile money receivables2425 –26 –26 9,178,976
Deposits with financial institutions27 –26 –26 1,977,505
Inventories 320,438 2,065,585 231,080
Trade and other receivables4**28 25,276,610 49,729,22229 37,616,054
Total current assets 382,291,951 277,343,82030 233,944,849
Total assets 722,963,593 614,010,10131 566,511,024
Ordinary share capital 1,350,887 1,350,887 1,350,887
Retained earnings 41,278,054 36,618,31932 53,546,054
Other reserves33 15,333,606 9,215,986 3,199,614
Total equity 57,962,547 47,185,19234 58,096,555
Deferred income tax –35 –35 7,016,165
Borrowings 37,134,545 55,393,665 50,980,806
Non-current financial liability**3637 7,544,097 9,636,433 10,528,683
Lease liabilities 141,454,542 140,995,03638 125,774,863
Non-current IRU Liability3940 338,870 374,85641 456,836
Total non-current liabilities42 186,472,054 206,399,9904344 194,757,353
Contract liabilities45 2,135,294 3,874,72546 2,974,509
Deferred income4748 1,419,604 123,275 115,860
IRU liability**49 35,986 35,986 Not reported in this filing50
Borrowings 16,249,760 15,430,274 25,708,541
Trade and other payables**51 142,198,241 109,733,89552 88,516,485
Financial liability53 3,636,491 3,122,723 5,040,714
Mobile money customer deposits5455 286,143,324 202,142,123 167,007,910
Provisions 2,838,690 1,544,894 639,441
Lease liabilities**56 18,773,062 12,536,65757 22,738,658
Current income tax liability 4,183,540 5,102,313 –58
Bank Overdraft –58 5,863,054 –58
Shareholder loan59 915,000 915,000 915,000
Total current liabilities 478,528,992 360,424,91960 313,657,117
Total liabilities 665,001,046 566,824,90961 508,414,470
Total equity and liabilities 722,963,593 614,010,10131 566,511,024
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_assets.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.current_assets.
  3. Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_liabilities.
  4. Printed “206, 399,990”; read as 206,399,990.
  5. Printed “-”, read as nil: subtotal_arithmetic: bs.current_liabilities.
Notes and alternative reported figures (56)
  1. “Indefeasible rights of use assets (IRUs)” is an issuer-specific line, not mapped to a shared definition: Note 16(a).
  2. “Capitalised contract costs2” is an issuer-specific line, not mapped to a shared definition: Note 20(a).
  3. Not reported in this filing: The FY2024 statements (p13) print no capitalised-contract-costs line; it was disaggregated in the FY2025 statements (note 37).
  4. Not reported in this filing: The FY2024 statements (p13) print no contract-assets line; it was disaggregated in the FY2025 statements (note 37).
  5. “Non-current prepayments2” is an issuer-specific line, not mapped to a shared definition: As printed.
  6. Printed under different labels across filings: “Non-Current prepayments”; “Non-current prepayments2”.
  7. Audited financial statements dated 2025-03-13 prints 2,042,085 (thousands, p13) for this line and year.
  8. Audited financial statements dated 2025-03-13 prints 123,088,778 (thousands, p13) for this line and year.
  9. Audited financial statements dated 2025-03-13 prints 6,407,353 (thousands, p13) for this line and year.
  10. Audited financial statements dated 2025-03-13 prints 341,812,256 (thousands, p13) for this line and year.
  11. “Indefeasible rights of use assets (IRUs)**” is an issuer-specific line, not mapped to a shared definition: Note 16(a).
  12. Printed under different labels across filings: “Indefeasible rights of use assets (IRUs)”; “Indefeasible rights of use assets (IRUs)**”.
  13. Audited financial statements dated 2025-03-13 prints 2,530,601 (thousands, p13) for this line and year.
  14. “Mobile money deposits**” is an issuer-specific line, not mapped to a shared definition: Note 17(b): balances held with banks for MoMo customers.
  15. Printed under different labels across filings: “Mobile money deposits”; “Mobile money deposits**”.
  16. Audited financial statements dated 2025-03-13 prints 201,572,790 (thousands, p13) for this line and year.
  17. “Collective savings scheme deposits3” is an issuer-specific line, not mapped to a shared definition: Note 17(c).
  18. Not reported in this filing: The FY2024 statements (p13) print no collective-savings-deposits line; it was disaggregated in the FY2025 statements.
  19. “Restricted cash3” is an issuer-specific line, not mapped to a shared definition: Note 17(d).
  20. Printed under different labels across filings: “Restricted cash”; “Restricted cash3”.
  21. Audited financial statements dated 2025-03-13 prints 6,319,489 (thousands, p13) for this line and year.
  22. “Capitalised contract costs**” is an issuer-specific line, not mapped to a shared definition: Note 20(a).
  23. “Mobile money receivables” is an issuer-specific line, not mapped to a shared definition: As printed.
  24. Printed under different labels across filings: “Mobile money receivables”; “Mobile money receivables**”.
  25. “Deposits with financial institutions” is an issuer-specific line, not mapped to a shared definition: As printed.
  26. Printed under different labels across filings: “Trade and other receivables”; “Trade and other receivables4**”.
  27. Audited financial statements dated 2025-03-13 prints 52,435,248 (thousands, p13) for this line and year.
  28. Audited financial statements dated 2025-03-13 prints 279,828,647 (thousands, p13) for this line and year.
  29. Audited financial statements dated 2025-03-13 prints 621,640,903 (thousands, p13) for this line and year.
  30. Audited financial statements dated 2025-03-13 prints 36,271,616 (thousands, p13) for this line and year.
  31. “Other reserves” is an issuer-specific line, not mapped to a shared definition: Note 13.
  32. Audited financial statements dated 2025-03-13 prints 46,838,489 (thousands, p13) for this line and year.
  33. “Non-current financial liability**” is an issuer-specific line, not mapped to a shared definition: Note 32.
  34. Printed under different labels across filings: “Non-current financial liability**”; “Other non-current financial liabilities”.
  35. Audited financial statements dated 2025-03-13 prints 146,053,051 (thousands, p13) for this line and year.
  36. “Non-current IRU Liability” is an issuer-specific line, not mapped to a shared definition: Note 16(b).
  37. Printed under different labels across filings: “Non-current IRU Liability”; “Total IRU Liability”.
  38. Audited financial statements dated 2025-03-13 prints 422,835 (thousands, p13) for this line and year.
  39. Printed under different labels across filings: “Total non-current liabilities”; “Total non-current liabilities (2024, printed with a space inside the number)”.
  40. Audited financial statements dated 2025-03-13 prints 211,505,984 (thousands, p13) for this line and year.
  41. Printed under different labels across filings: “Contract Liability”; “Contract liabilities”.
  42. Audited financial statements dated 2025-03-13 prints 4,860,975 (thousands, p13) for this line and year.
  43. “Deferred income” is an issuer-specific line, not mapped to a shared definition: Note 5(c).
  44. Printed under different labels across filings: “Deferred Revenue”; “Deferred income”.
  45. “IRU liability**” is an issuer-specific line, not mapped to a shared definition: Note 16(b).
  46. Not reported in this filing: The FY2024 statement of financial position (p13) prints the IRU liability as one non-current line ('Total IRU Liability'); no current portion is printed.
  47. Printed under different labels across filings: “Trade and other payables”; “Trade and other payables**”.
  48. Audited financial statements dated 2025-03-13 prints 112,989,566 (thousands, p13) for this line and year.
  49. “Financial liability” is an issuer-specific line, not mapped to a shared definition: Note 32.
  50. “Mobile money customer deposits” is an issuer-specific line, not mapped to a shared definition: Note 23(b): amounts owed to MoMo customers.
  51. Printed under different labels across filings: “Mobile money customer deposits”; “Mobile money payables”.
  52. Printed under different labels across filings: “Lease liabilities”; “Lease liabilities**”.
  53. Audited financial statements dated 2025-03-13 prints 11,202,233 (thousands, p13) for this line and year.
  54. “Shareholder loan” is an issuer-specific line, not mapped to a shared definition: Note 12.
  55. Audited financial statements dated 2025-03-13 prints 363,296,430 (thousands, p13) for this line and year.
  56. Audited financial statements dated 2025-03-13 prints 574,802,414 (thousands, p13) for this line and year.

Cash flow

Cash flow, RWF thousands. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025; FY2023 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2024.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filingFY2023Audited financial statementscomparative in FY2024 filing
Cash generated from operations 161,986,229 92,168,8461 142,117,989
Interest paid on borrowings (10,544,255) (10,428,763) (12,456,500)
Interest paid on leases2 (14,536,269) (10,852,284)3 (19,504,662)
Interest received 947,334 1,475,095 1,026,609
Tax paid (18,104,845) (15,166,886) (15,843,969)
Net cash generated from operating activities 119,748,194 57,196,0084 95,339,467
Acquisition of property, plant and equipment and intangible assets5 (33,957,830) (36,930,082) (60,106,554)
Increase in capitalised contract costs6 (1,484,574) (980,130) Not reported in this filing7
Deposit placements with financial institutions8 –9 1,977,505 (1,977,505)
Net cash used in investing activities (35,442,404) (35,932,707)10 (62,083,085)
Payment of principal portion of lease liabilities (13,587,359) (21,648,846)11 (16,873,422)
Dividends paid –12 (1,144,970) (1,902,420)
Increase in borrowings 62,793,855 18,000,000 3,000,000
Principal repayments of borrowings (79,256,875) (23,469,697) (17,537,518)
Financial liability repayments13 (4,087,993) (4,788,150) Not reported in this filing14
Net cash used in financing activities (34,138,372) (33,051,663)15 (33,313,360)
Net increase/(decrease) in cash and cash equivalents16 50,167,418 (11,788,362)17 (56,979)
Cash and cash equivalents at beginning of the year 8,651,641 20,297,068 20,299,144
Exchange gains on cash and cash equivalents 13,027 142,935 54,903
Cash and cash equivalents at end of the year 58,832,086 8,651,641 20,297,068
Proceeds on disposal of PPE Not reported in this filing18 Not reported in this filing1819 974
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (17)
  1. Audited financial statements dated 2025-03-13 prints 91,619,414 (thousands, p15) for this line and year.
  2. Printed under different labels across filings: “Interest paid on lease”; “Interest paid on leases”.
  3. Audited financial statements dated 2025-03-13 prints (13,020,307) (thousands, p15) for this line and year.
  4. Audited financial statements dated 2025-03-13 prints 54,478,552 (thousands, p15) for this line and year.
  5. Printed under different labels across filings: “Acquisition of property, plant and equipment”; “Acquisition of property, plant and equipment and intangible assets”.
  6. “Increase in capitalised contract costs” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  7. Not reported in this filing: The FY2024 statement of cash flows (p15) prints no capitalised-contract-costs line.
  8. “Deposit placements with financial institutions” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  9. Audited financial statements dated 2025-03-13 prints (34,952,577) (thousands, p15) for this line and year.
  10. Audited financial statements dated 2025-03-13 prints (24,556,733) (thousands, p15) for this line and year.
  11. “Financial liability repayments” is an issuer-specific line, not mapped to a shared definition: Note 32.
  12. Not reported in this filing: The FY2024 statement of cash flows (p15) prints no financial-liability repayment line.
  13. Audited financial statements dated 2025-03-13 prints (31,171,400) (thousands, p15) for this line and year.
  14. Printed under different labels across filings: “Net (decrease)/increase in cash and cash equiva”; “Net increase/(decrease) in cash and cash equivalents”.
  15. Audited financial statements dated 2025-03-13 prints (11,645,427) (thousands, p15) for this line and year.
  16. Not reported in this filing: The FY2025 statement of cash flows (p15) prints no disposal-proceeds line.
  17. Audited financial statements dated 2025-03-13 presents this line for this year: - (p15). Not shown in this column, which follows one filing's presentation.

Per share and shares

Per share and shares. Columns: FY2025 — audited financial statements (signed / final), as reported for the year; FY2024 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2025; FY2023 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2024.
Line (as printed) FY2025Audited financial statementsreported for the yearFY2024Audited financial statementscomparative in FY2025 filingFY2023Audited financial statementscomparative in FY2024 filing
Earnings / (loss) per share (per share)2 8.0 (4.0)1 4.4
Profit / (loss) attributable to shareholders (RWF thousands)4 10,777,355 (5,371,842)3 5,879,829
Weighted average shares (shares)65 1,350,886,600 1,350,886,600 1,350,886,600
Notes and alternative reported figures (6)
  1. Audited financial statements dated 2025-03-13 prints (4.1) (units, p12) for this line and year.
  2. Earnings / (loss) per share: printed as “Basic earnings per share - Rwf”.
  3. Audited financial statements dated 2025-03-13 prints (5,533,208) (thousands, p12) for this line and year.
  4. Profit / (loss) attributable to shareholders: printed as “Equity holders of the Company”.
  5. Printed under different labels across filings: “Weighted average number of shares for calculation diluted and basic earning per share”; “Weighted average number of shares for calculation diluted and basic earnings per share”.
  6. Weighted average shares: printed as “Weighted average number of shares for calculation diluted and basic earnings per share”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2025 Dividends paid (cash flow statement) Dividends paid 0printed “–”, read as nil RWF thousands Audited financial statements, p15
31 Dec 2024 Dividends paid (cash flow statement) Dividends paid (1,144,970) RWF thousands Audited financial statements, p15
31 Dec 2023 Dividends paid (cash flow statement) Dividends paid (1,902,420) RWF thousands Audited financial statements, p15

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • MTN Rwandacell Plc Annual Consolidated Financial Statements for the year ended 31 December 2025

    Year ended 31 December 2025 · Audited financial statements · signed / final

    Audit: Ernst & Young Rwanda Limited, unmodified opinion · signed

    Auditor's sign-off: Ernst & Young Rwanda Limited; partner in charge Stephen K Sang

    Final status: Auditor's report signed for Ernst & Young Rwanda Limited by Stephen K Sang, dated 11 March 2026 (pp5-10, scanned, read from page renders); statements approved by the board on 11 March 2026 (p13).

    Document date
    11 Mar 2026
    Auditor's report
    11 Mar 2026
    Board approval
    11 Mar 2026
    Retrieved by us
    7 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    consolidated statements · RWF thousands (printed “Rwf'000”)
    • The cash-flow section headings are printed 'Cashflows flow from investing activities' and 'Cashflows flow from financing activities' (p15).
    • Totals printed with a space inside the number (p13): non-current liabilities 2024 '206, 399,990' and 1 January 2024 '193, 435,467', current liabilities 1 January 2024 '312, 583,452'. The 2024 non-current total is recorded as printed and read as 206,399,990 (it equals its printed components); the 1 January 2024 column is not transcribed.
    • The 2024 and 1 January 2024 columns are headed 'Restated' (note 36); several 2024 lines are also re-presented for reclassifications (note 37) and disaggregations (capitalised contract costs, collective savings deposits, contract assets).
    • The 1 January 2024 balance-sheet column is not transcribed; FY2023 is not available from an original source in this session (see status.json).
    Technical details
    File
    77 pages, with a text layer
    SHA-256
    0b900e38cf4e1851a3bc5f73a68d4c51976672d5502c332bd19f99086a716949
    Entity as printed
    MTN Rwandacell Plc and its subsidiary (the Group)
    Exchange copy
    retrieved 2026-10-07T00:46:26Z · curl

  • MTN Rwandacell Plc Annual Consolidated Financial Statements for the year ended 31 December 2024

    Year ended 31 December 2024 · Audited financial statements · signed / final

    Audit: Ernst & Young Rwanda Limited, unmodified opinion · signed

    Auditor's sign-off: Ernst & Young Rwanda Limited; Stephen K Sang

    Final status: Auditor's report signed for Ernst & Young Rwanda Limited by Stephen K Sang, dated 13 March 2025 (pp5-11, read from page renders); statements approved by the board on 13 March 2025 (p13, day handwritten) and signed by a director and the CEO.

    Document date
    13 Mar 2025
    Published
    13 Mar 2025
    Auditor's report
    13 Mar 2025
    Board approval
    13 Mar 2025
    Retrieved by us
    7 Oct 2026 (not a publication date)
    Used for
    statement columns FY2023
    Basis
    consolidated statements · RWF thousands (printed “Rwf'000”)
    • Statement of cash flows (p15): operating 54,478,552, investing (34,952,577) and financing (31,171,400) sum to (11,645,425); the net decrease is printed (11,645,427), and the closing cash (8,651,641) follows the printed figure.
    • The cash-flow section headings are printed 'Cashflows flow from investing activities' and 'Cashflows flow from financing activities', and the net-change line is cut off: 'Net (decrease)/increase in cash and cash equiva' (p15).
    • The FY2025 statements restate 2024 again (note 36 there); the FY2024 column shown is the FY2025 statements' restated comparative, and this document supplies FY2023.
    • The 2023 and 1 January 2023 columns are headed 'Restated' (note 38, pp75-78): errors in lease liabilities and right-of-use assets (foreign-currency leases, CPI escalations, terminated leases) and in bank-to-wallet mobile money balances. Credit loss expense is disaggregated from other operating expenses and the comparative re-presented (p12).
    • Cash and cash equivalents at the end of 2024 in the cash-flow statement (8,651,641) equal the balance-sheet cash (14,514,695) less the bank overdraft (5,863,054), p13 and p15.
    • The 1 January 2023 balance-sheet column and the statement of changes in equity (p14, printed sideways) are not transcribed.
    Technical details
    File
    78 pages, scanned (figures read by OCR and checked against the page image)
    SHA-256
    ac2441ba687ad3608a84d31985f94298456161c8a0de1ff95d6821ec8de63183
    Entity as printed
    MTN Rwandacell Plc and its subsidiaries (the Group)
    Issuer copy
    retrieved 2026-10-07T13:24:01Z · curl

Data notes

  • Trade and other receivables — OCR read '37.616,054'; the page image shows '37,616,054'. OCR read a full stop for a comma; the page image shows the comma. (MTN Rwandacell Plc Annual Consolidated Financial Statements for the year ended 31 December 2024, p13)
  • Borrowings — OCR read '15,430.274'; the page image shows '15,430,274'. OCR read a full stop for a comma; the page image shows the comma. (MTN Rwandacell Plc Annual Consolidated Financial Statements for the year ended 31 December 2024, p13)
  • Trade and other payables — OCR read '112.989,566'; the page image shows '112,989,566'. OCR read a full stop for a comma; the page image shows the comma. (MTN Rwandacell Plc Annual Consolidated Financial Statements for the year ended 31 December 2024, p13)
  • Lease liabilities — OCR read '11.202,233'; the page image shows '11,202,233'. OCR read a full stop for a comma; the page image shows the comma. (MTN Rwandacell Plc Annual Consolidated Financial Statements for the year ended 31 December 2024, p13)
  • Total non-current liabilities (2024, printed with a space inside the number) — Printed '206, 399,990'; read as '206,399,990'. Printed '206, 399,990' with a space after the first comma; read as one amount, which equals the printed components (55,393,665 + 9,636,433 + 140,995,036 + 374,856). (MTN Rwandacell Plc Annual Consolidated Financial Statements for the year ended 31 December 2025, p13)

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