Uganda’s largest telecom firm, MTN Uganda Limited, recorded resilient financial results in the first nine months ended in September 2025, posting a 2.6% growth in profit after tax to Ush 471.2 billion, improving from a 9.7% decrease at H1 2025 due to the one-off tax settlement to the Uganda Revenue Authority (URA).
Service revenue climbed 13.6% to Ush 2.6 trillion, buoyed by robust data and fintech performance. Data revenue grew the highest by 30.2% to Ush 768.2 billion, mainly driven by an increase in active data customers and usage per customer. Active data subscribers increased by 18.6% to 11.0 million, while usage per subscriber grew by 21.4%, on the back of improved network stability and the company’s focus on personalized service.
Fintech revenue jumped 17.9% to Ush 808.9 billion, from Ush 686.4 million recorded in a similar period the previous year. The surge in Fintech revenue is attributed to growth in the mobile money business and a significant turnaround in the firm’s airtime lending product, Xtratime.
MTN Uganda’s digital revenue rose by 25.7% to Ush 10.8 billion, underpinned by the resilient performance from the YoTV video streaming service. Voice revenue inched up 0.8% to Ush 949.2 billion, supported by a resilient performance in outgoing voice. Despite a 4.6% drop in revenue contributed to service revenue, voice remained the largest contributor to the revenue segment, accounting for 36.2% of service revenue.
EBITDA grew by 18.5% to Ush 1.4 trillion, demonstrating the firm’s strong operating leverage and cost efficiency. MTN’s resilient performance was underpinned by strong strategic execution and a stable macroeconomic environment, including forex stability. Excluding the tax settlement, MTN Uganda’s after-tax profit stands at Ush 582.1 billion, up 26.7%.
MTN Uganda assets totaled Ush 5.2 trillion compared to 4.8 trillion in December 2024. Total equity increased moderately to Ush 1.3 trillion from Ush 1.2 trillion in December 2024.
During the review period, the telecommunications firm invested Ush 299.8 billion in capital expenditure (Capex) aimed at improving voice clarity, data speeds, and mobile money platform stability.
The telco increased its broadband and fiber coverage by setting up 237 physical sites and 5,880km of fiber, underscoring its commitment to digital inclusion. The MTN Group’s Ugandan unit increased its 5G and 4G population coverage by 3.7% and 0.4% to 19% and 88.3%, respectively.
MTN Uganda Interim Dividend
The board of directors declared a second interim dividend of Ush 10.5 per share for the nine months ended September 30, 2025, payable on December 19, 2025, to shareholders on the company’s register on December 1, 2025.
Also Read: Safaricom PLC HY 2026 Revenue Soars Past KES 200 Billion, Eyes Ethiopia Breaking Even by FY 2027
