MTN Uganda has posted strong financial results for the six months ended June 30, with total revenue climbing soaring to UGX 1.7 trillion. Speaking at a press briefing at their head office in Kampala yesterday, CEO Sylvia Mulinge said the Board had declared an interim dividend of UGX10.0 per share, amounting to UGX 223.8 billion, and payable on September 19. “We are encouraged by the trust our customers continue to place in MTN,†she said, adding that the positive performance was driven by solid growth in data and fintech services, underpinned by sustained investment in digital infrastructure and a sharper focus on customer experience. Data revenue surged 31.3% to UGX 490.2 billion, supported by increased internet adoption and expanded high-speed coverage. Fintech revenue also recorded impressive growth, rising 18.6% to UGX 524.6 billion, reflecting the growing popularity of mobile financial services. Voice revenue remained largely stable, edging up 0.4% year-on-year to UGX 629 billion, a sign of resilience despite shifts in consumer communication habits. The company’s customer base rose by 10.2% to 22.8 million, with active data subscribers increasing 23.4% to 10.8 million. Mobile money users rose by 6% to 13.3 million, highlighting the increasing access to financial solutions provided by the network. “Our focus on enhancing the network, broadening access, and improving service quality continues to support both performance and impact,†Mulinge added. During the review period, MTN Uganda invested UGX 219.7 billion in network expansion, commissioning 355 new sites primarily to extend 4G and 5G coverage. As a result, 4G population coverage rose from 87.8% to 88.2%, while 5G coverage grew from 15.3% in December 2024 to 19% by mid-2025. The company also extended its fibre footprint to boost capacity and support its home broadband rollout. Earnings before interest, tax, depreciation, and amortization (EBITDA) rose 17.8% to UGX 924.2 billion, driven by operational efficiencies and scale benefits, according to Mulinge. MTN Uganda’s tax contributions for the period topped UGX 681 billion. The company also concluded a one-off tax settlement with the Uganda Revenue Authority amounting to UGX 110.9 billion. This however, led to a 9.7% drop in profit after tax, which declined to UGX 267 billion. However, excluding the settlement, underlying profit after tax grew by 27.8% to UGX 377.9 billion—demonstrating the business’s strong underlying performance. Last month, MTN Uganda received overwhelming shareholder approval in the Extraordinary General Meeting held on 22 July 2025 to proceed with the implementation of the proposed structural separation of MTN Mobile Money (U) Limited from MTN Uganda, signalling support for the strategic evolution and delivery of the platform strategy. This will position the platforms to accelerate their growth and unlock further value for shareholders. Richard Yego, CEO of MTN MoMo Uganda, highlighted the success of “Y’Invest,†a mobile-based unit trust investment product allowing customers to earn daily interest of up to 12% directly from their phones. “Transactions have grown 20.3% to 2.4 billion,†Yego noted. “If this momentum continues in the second half, we should exceed four billion transactions, up from 3.4 billion last year, in terms of value processed.†As the second half of 2025 unfolds, MTN Uganda is well-positioned to sustain momentum, with plans to deepen 5G rollout, expand fibre reach, and introduce more customer-focused digital products.
These initiatives, alongside strong market demand for data and mobile financial services, are expected to further enhance the company’s financial performance and societal impact.
