MTN operating companies are reporting strong double-digit profit after tax (PAT) ahead of the group’s interim results, signalling robust operational performance across key markets during the first half ended June 2026.
Following MTN Nigeria’s 70.6% PAT surge and MTN Ghana’s 43.3% gain, MTN Uganda has told shareholders its PAT rose by 37.7% in the period under review.
MTN Group, Africa’s largest telco, maintains separately listed operating companies on local stock exchanges across its footprint, allowing regional investors to hold direct equity while providing a clear window into broader group performance.
For the first half of 2026, MTN Uganda’s service revenue increased by 9.4% to Ush1.9 trillion, driven by a 15.6% jump in data revenue to Ush566.8 billion and a 10.7% rise in fintech revenue to Ush580.6 billion.
The performance was supported by active data subscribers expanding 16.3% to 12.6 million and mobile subscribers reaching 25.4 million, enabling the board to declare a total dividend of Ush17.25 per share.
EBITDA increased by 4.7% to Ush967.5 billion, with EBITDA margin narrowing by 2.5 percentage points to 51.2%, while total capex excluding leases rose 44.6% to Ush317.7 billion as the operator expanded network capacity.
“The improved performance reflects the resilience of our operating model, the strength of our customer base, and continued execution of our strategic priorities,” said Sylvia Mulinge, CEO of MTN Uganda, noting that the business recovered from earlier operational disruptions with improving momentum in the second quarter.
She added: “We remain confident in Uganda’s long-term growth prospects and are committed to creating sustainable value for our shareholders through disciplined investment, innovation and execution.
“We maintain our medium-term guidance of delivering upper-teen service revenue growth, stable EBITDA margins above 50%, and capex intensity in the mid-teens as we invest prudently to meet licence obligations."
The results mark a continuation of momentum for MTN Uganda, which in 2025 delivered a 13.6% increase in overall revenue driven by surging data and fintech usage.
MTN Group is scheduled to announce its group-wide H1 2026 interim financial performance on 18 August.
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