MTN Uganda declared an interim dividend of Ush 10 per share for the first six months to June 2025, up 51.5% year-on-year, despite posting a 9.7% decline in after tax profit to Ush 266.95 billion, attributed to a one-off tax settlement of Ush110.9 billion with the Uganda Revenue Authority (URA) covering the period between 2012-2024.
“Notice is hereby given that the Company’s directors have declared the payment of the first interim dividend of Ush 10.0 per share (Ush 223,890,442,390) for the six months ended 30 June 2025. This is subject to deduction of withholding taxes. The number of ordinary shares in issue at the date of this declaration is 22,389,044,239,” said MTN in its half year report.
About MTN Uganda
MTN Uganda is a telecommunications company that offers mobile money, mobile voice and data services, and digital products. The company was listed in the Uganda Securities Exchange (USE) in December 2021 via an Initial Public Offering (IPO), floating 4.48 billion shares at Ush 200 per share. The company raised Ush 535.94 billion making it the largest IPO in Uganda.
H1 2025 Results
The company announced robust financial results for the first six months ending 30th June 2025. Total revenue rose 13.1% to Ush 1.72 trillion. The surge is attributed to increased customer use of fintech services in running their business and exploring opportunities in the digital world. Fintech users increased 6% to 13.3 million from 12.5 million in the same period last year.
Data revenue grew 31.3% to Ush 490.2 billion, while voice revenue increased 0.4% to Ush 629 billion year-on-year. Fintech revenue reached Ush 524.6 billion, up 18.6% year-on-year. Digital revenue climbed 12.4% to Ush 6.64 billion from Ush 5.91 billion in H1 2024.
Earnings before interest, tax, depreciation, and amortization (EBITDA) jumped 17.8% to Ush 924.2 billion with its margin increasing by 2.2 percentage points to 53.7%, largely driven by prudent management costs supported by stability in currency and inflation. Earnings Before Interest Tax, (EBIT) stood at Ush 664.6 billion, up 21.8% with its margin increasing 2.8 percentage points. Profit after tax dipped 9.7% to Ush 267 billion, mainly as a result of the one-off tax settlement with URA. Excluding the tax liability, the telco net profit grew by 27.8% to Ush 377.9 billion.
MTN’s capital expenditure totaled Ush 279.7 billion, underpinned by a deployment of Ush 219.7 billion (ex-leases) with a capital intensity of 12.8% – a decline by 1.6 percentage points from 14.4% in H1 2024.
“We continued to invest in Uganda and deployed capex of Ush 219.7 billion (ex-leases) in our core network in the period, with a focus on network capacity densification to reduce traffic congestion and enhance customer experience. This year, we have rolled out a total of 355 sites to expand connectivity for our customers, concentrating on 4G and 5G, increasing our population coverage to 88.2% (H1 24: 87.8%) and 19.0% (H1 24: 15.3%), respectively. Some of the investment was also directed towards our fibre footprint expansion, in support of our strategy to further fiberize our network sites to support growing traffic and accelerate our home broadband,” said MTN in its Half year report.
The company saw its total subscribers increase by 10.2% to 22.8 million year-on-year. Active data subscribers went up 23.4% to 10.8 million, while fintech subscribers edged up 6.0% to 13.3 million. According to the Company’s CEO, the telco remains focused on enhancing the network, broadening access, and providing better customer services.
In a bid to expand the company’s customer base, accelerate digital transformations, and strengthen leadership, the board of directors appointed Sylvia Elsheikh as the Chief Marketing Officer.
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