MTN Rwanda bets big on innovation to drive up mobile money revenues

Telecommunication giant MTN Rwanda is optimistic about the growth prospects in the Rwandan market, as it continues to ramp up investments in its network and ICT platforms. The company has seen a plateau in revenue from voice and SMS services, but mobile money revenues are on a steady upward trajectory. In a recent interview, Cliff Muligande, the Chief Information Officer of MTN Rwanda, highlighted the company's commitment to innovation and customer-centric products and services. Muligande emphasized the importance of investing in ICT infrastructure, applications, and cybersecurity to ensure the delivery of seamless and secure digital services to customers. The company has allocated significant funds towards expanding its network coverage and enhancing its FinTech offerings to cater to the evolving needs of the market. With a focus on FinTech, MTN Rwanda aims to make financial services accessible to all segments of society and drive financial inclusion. Muligande mentioned that the company is leveraging design thinking and market analysis to develop innovative products and services that align with customer needs and preferences. Additionally, MTN Rwanda is exploring new avenues in the FinTech space, such as overdraft products, to further expand its business and cater to the diverse financial requirements of the citizens of Rwanda. The company recognizes that traditional revenue streams like voice and SMS are facing declines globally and is strategically positioning itself to capitalize on the growth opportunities in data services. With a 4G license in place and plans for future technologies like 5G, MTN Rwanda is focused on offering value-added services beyond connectivity. By bundling services like accounting tools, information security solutions, and educational resources with connectivity, MTN Rwanda aims to enhance its value proposition for customers in various sectors like banking, insurance, and retail. The company's innovative approach and customer-centric strategy are key drivers for its future growth and differentiation in the market. MTN Rwanda recently launched eSIMs, introducing advanced features and services that enhance connectivity and IoT capabilities for customers. The eSIM technology offers increased convenience and security, as it eliminates the risk of physical SIM theft and enables seamless connectivity across multiple devices. In response to the rising concerns around cyber threats, SIM swap fraud, and device vulnerabilities, MTN Rwanda has invested significantly in cybersecurity measures and compliance to protect its customers and maintain trust in its services. Muligande emphasized the company's continuous focus on enhancing customer protection and controlling fraud risks in the digital ecosystem. Looking ahead, MTN Rwanda recognizes the evolving landscape of the telecom industry, with emerging technologies like artificial intelligence and disruptive innovations reshaping the sector. The company is adapting its business model to embrace digital transformation, research, and innovation. By building platforms, developing apps, and offering unique services, MTN Rwanda is positioning itself as a digital company that caters to the changing needs and preferences of the market. Muligande stressed the importance of adopting a growth mindset, disrupting traditional telco practices, and proactively innovating to stay ahead in the competitive landscape. As the telco industry continues to evolve, MTN Rwanda is committed to driving digital innovation and delivering value-added services to its customers.