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MTN Rwandacell holds AGM, announces dividends payment of Rwf10.2 billion

By IGIHE
On 2 July 2021 at 05:52

MTN Rwandacell (MTN Rwanda) recently held its first Annual General Meeting (AGM) on 30th June 2021 since listing by introduction on the Rwanda Stock Exchange.

The outgoing Chairperson of the MTN Rwandacell Board of Directors, Evelyn Rutagwenda, presided over the milestone occasion, which was attended by both international and local shareholders.

The Chairperson stated that the telecom’s management is honoured to have engaged with shareholders even though it was done virtually.

She explained that the year 2020 was like no other, with the onset and spread of the COVID-19 pandemic but stressed that the business remained resilient and consistent in its drive to serve at full capacity and provide service to clients.

"The financial performance remained strong guided by MTN’s ambitious strategy to lead digital Inclusion, paving the way for year-on-year growth and resulting in shareholders receiving dividends,” she said.

Shareholders of the newly listed company approved the dividend payment totalling Rwf 10,200,000,000 (Ten Billion Two Hundred Million Rwandan Francs), which is approximately Rwf 7.5/share (Seven point Five Rwandan Francs per share). As a result, all shareholders who were on the share register as of June 7th 2021, will receive their dividend payment today.

“As I conclude my time as Chairperson, I take this opportunity to express my heartfelt gratitude to our shareholders and other stakeholders, my fellow board members and the management team for their tireless support,” added Rutagwenda.

Other business that was approved at the AGM, included the re-appointment of PwC Rwanda Limited as external auditors, adoption of the 2020 Annual Report and signed audited Financial Statements for the year ended December 31st 2020, and the election and re-election of Board Directors.

Speaking at the annual meeting, Mitwa Ng’ambi, MTN Rwanda Chief Executive Officer said: “This AGM has afforded us direct interaction with our shareholders. This has permitted them access to insights on company performance and our strategy direction going forward, something that was not entirely possible with Crystal Telecom Limited acting as a SPV company. We are also excited to welcome the new Board Directors, who bring with them a wealth of experience in diverse sectors.”

From the time of listing, MTN Rwanda has established multiple platforms where interested parties can contact them or find an array of information that will aid in their decision making including their website via investor relations portal or [email protected]

About MTN Rwandacell

MTN Rwandacell Plc (MTN Rwanda) is the market leader in mobile telecommunications in Rwanda. Since 1998, we have continuously invested in expanding and modernising our network and are the country’s No 1 network.

MTN Rwanda offers various services to subscribers, including innovative propositions such as personalised voice and data offers with MTN Irekure. The company is also the front runner in mobile financial services in Rwanda with Mobile Money, MoMoPay and MoKash Loans and Savings.


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