MTN Rwandacell Company Overview
Attractive Return Profile | Opex
Opex Split
(FRw bn)
60
22
22
12
64
60
CAGR
2018-20
4.1%
12
(24.8%)
11
17
19.1%
.
17
17
23
19
15
11
2018
Source:
Company information
Employee benefits expense
Other operating expenses
13
2019
■Sales, distribution and marketing costs
Direct network operating costs
12
2020
39
Understanding Opex
Employee benefit expenses increased in line with the
inflation.
Efficiencies in marketing costs as we leverage on
digital channels.
23.0%
Other operating costs includes 2.5% of turnover that is
contributed to the Rwanda Social Security Board
(RSSB) as a Community Health subsidy (Mutuelle de
Sante). Amounts payable to MTN Group including
royalties for use of the MTN Brand and management
services ranges between 4-5% of revenue.
8.0%
•
Direct network operating costs increased slightly as
more network sites were rolled out across the
Country.
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