MTN Uganda has reported a robust first half of 2025, powered by surging demand for data and fintech services, even as a significant tax settlement weighed on profits.
For the six months ended 30 June 2025, service revenue jumped 13.3% year-on-year to $452m (USh 1.7 trillion), driven by double-digit growth in both digital connectivity and financial services.
Data revenue rose 31.3% to $130m (USh 490.2 billion), as active data subscribers grew 23.4% to 10.8 million and traffic volumes soared 42.6%. Network expansion pushed 4G coverage to 88.2% and 5G to 19% of the population.
Fintech operations maintained their upward trajectory, with revenue up 18.6% to USh 524.6 billion (about $139 million). MTN’s Mobile Money (MoMo) platform processed 2.4 billion transactions worth ( $23,7 hillion (USh 89.3 trillion), a 28.7% increase in value.
Advanced services such as the MoMo Virtual Card, offered in partnership with Mastercard, now contribute 30% of MoMo revenue, reflecting the company’s shift toward sophisticated digital financial products.
EBITDA grew 17.8% to $245m (USh 924.2 billion), with margins improving to 53.7%.
However, profit after tax fell 9.7% to $71m (USh 267.0 billion ) due to a one-off $29.5m (USh 110.9 billion) tax settlement with the Uganda Revenue Authority. Adjusted profit after tax, excluding this impact, was up 27.8%.
Shareholders approved a first interim dividend of USh 10.0 per share, totalling $59.4 million (USh 223.9 billion), payable on 19 September 2025. They also endorsed the structural separation of MTN Mobile Money Limited from MTN Uganda, pending regulatory approval.
Sylvia Mulinge, CEO of MTN Uganda, said the country’s biggest telco remains confident in its growth potential and committed to deepening penetration and usage of services to ensure customers enjoy the benefits of a modern connected life.
“Despite a challenging operating environment, we solidified our market leadership with robust growth in data and fintech, supported by prudent cost management and continued investment in network expansion,” she said.
Mulinge underlined that with a customer base of 22.8 million and fresh products like Yinvesta and Cover by MoMo in the pipeline, MTN Uganda aims to sustain momentum in the second half while navigating regulatory changes and stiff competition.
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