Mergers, Acquisitions and Financial Results

Telecommunications giant MTN Rwanda registered a subscriber base of two hundred and seventy five thousand customers in 2005, and paid over three billion Francs in taxes.

Anthony Masozera, the company's Chief Finance Officer, said Thursday March, 23 during the release of the group results at company's headquarters in Nyarutarama, that MTN registered strong growth rate over the nine-month period that ended December 31, 2005.

"MTN Rwanda recorded 275.000 subscribers reflecting a forty-four percent increment over the financial year. The Average Revenue per User now stands at seven thousand Francs ($17). Over the nine months, total revenue collections increased by twenty six percent to Frw. 21.5 billion on a consolidated basis, with a sound Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) margin of fifty three percent," Masozera disclosed.

He further said that MTN Group had paid consolidated tax of over three billion Francs and that the company's Corporate Social Responsibility, had improved.

Masozera said that MTN had made Net Profits of six billion Francs in 2005 and that much of it will be re-invested in the provision of new state-of-the-art services, including a US$10million Redundancy Switch to improve on the quality of the network.

The New Times