Crystal Telecom was established and incorporated in 2013, and following a share transfer of 20% of shares held in MTN Rwanda from Crystal Ventures to Crystal Telecom on 29 April 2015, Crystal Telecom currently owns a 20% equity stake in MTN Rwanda. The Company’s sole business is holding and managing this 20% stake in MTN Rwanda for the benefit of its shareholders. The remaining 80% of MTN Rwanda is held by MTN Group Limited – the largest African mobile telecommunications company with operations in 22 countries throughout Africa and the Middle East. MTN Rwanda has operated in Rwanda for more than 15 years and built one of the leading brands in the country, with a core business centred on telecommunications, broadband, networking and mobile money payment services. MTN Rwanda is the biggest mobile network in the country, with an active mobile subscriber base of 3.9 million and market share of 49%, as of March 2015 .