MTN Rwanda has released resolutions of its 2023 Annual General Meeting (AGM) held vartually on June 23 and reported an increment in company revenues standing at 19.2 percent representing Rwf 224 billion.
The AGM is the third one since MTN Rwanda was listed on the Rwanda Stock Exchange (RSE) on May 4, 2021.
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A statement issued after the meeting indicated that there was 51 per cent quorum and was opened by MTN Rwanda Chairperson of the Board of Directors, Faustin Mbundu who reported about the 2022 Integrated Report as he addressed the shareholders.
"We have achieved significant progress so far, especially in driving digital and leading financial inclusion, and we hope to continue working towards our key objectives. MTN Rwanda was able to achieve noteworthy operational performance growth with GSM and Mobile Money (MoMo) subscribers increasing by 5.9 per cent and 16.3 per cent respectively. The company's total revenue increased by 19.2 per cent to Rwf 224.27 billion and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased by 20.8 per cent to Rwf108.39 billion," Mbundu announced.
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Mbundu was also joined by MTN Rwanda Chief Executive Officer (CEO) Mapula Bodibe, Chief Finance Officer (CFO) Mark Nkurunziza, General Manager, Corporate Services and Company Secretary, Sharon Mazimhaka, and representing external auditors from PwC, Moses Nyabanda.
MBodibe expounded on the Operational achievements MTN Rwanda saw in 2022 commenting "We expanded our network infrastructure further across Rwanda during the year, offering broader access to a modern connected life. We rolled out 120 network new sites to bring our coverage to an estimated 13 million people in the country. By the end of the 2022 fiscal year, we had achieved 98.7 per cent population coverage."
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Shareholders resolved the approval of the final dividend distribution for the year ended December 31, 2022, of Rwf 7.04 per share totaling slightly over Rwf 9.5 billion
Shareholders who were recorded in the Share Register as of June 09 2023 can expect to receive their dividends on June 26.
Other business that was resolved at the meeting included the approval to appoint Ernst and Young Rwanda Limited as the Company's External Auditors and to authorize the board to fix their remuneration, the adoption of the Integrated Annual Report, signed Audited Financial Statements for the year ended December 31, 2022, as well as the re-election Directors of the Board.
The Board of Directors who were re-elected included Mbundu, Karabo Nondumo, Adriaan Wessels, Michael Fleisher, Julien Kavaruganda, Yolanda Cuba, Mapula Bodibe, and Mark Nkurunziza.
