MTN Uganda profit jumps to Shs 678.8bn as data, fintech drive growth

Kampala, Uganda | THE INDEPENDENT | As Uganda’s digital economy gathers pace, MTN Uganda says demand for connectivity and digital financial services continued to drive growth in 2025, underlining the expanding role telecommunications companies now play in the country’s economic life.
For the year ended December 31, the telecoms operator reported service revenue of Shs3.6 trillion, a 13.4% increase from the previous year, as more Ugandans relied on the internet and mobile money to communicate, transact and run businesses. Earnings before interest, tax, depreciation and amortisation rose 17% to Shs1.9 trillion, reflecting operational efficiencies even as the company continued to invest heavily in expanding its network.
Profit after tax rose modestly by 5.8% to Shs678.8 billion. The figure, however, was weighed down by a one-off tax settlement of Shs110.9 billion paid to the Uganda Revenue Authority earlier in the year. Stripping out the settlement, the company says underlying profit grew 23.1% to Shs789.7 billion — a reflection of the growing strength of its digital services business.
The results highlight a broader transformation underway in Uganda, where the internet and digital payments are rapidly reshaping how people learn, trade and manage money.
Data services were the standout performer. Revenue from mobile internet rose 28.8% to Shs1 trillion, making it MTN Uganda’s fastest-growing business segment. The number of active data users climbed 18.6% to 12 million, while the total subscriber base expanded 10% to 24.2 million customers.
Behind those figures lies a shift in everyday life: classrooms increasingly relying on online learning tools, businesses adopting digital platforms to reach customers, and households using mobile services to access information, entertainment and financial tools.
Mobile money has been another powerful engine of growth. Fintech revenue increased 17.3% to Shs1.1 trillion, supported by 14.7 million active users across the country. During the year, customers carried out roughly five billion transactions worth Shs195.5 trillion — a striking indication of how digital payments have become woven into Uganda’s economic fabric.
The scale of the mobile money ecosystem has also grown rapidly. MTN Uganda now works with more than 241,000 agents and 114,800 merchants nationwide, enabling businesses large and small to accept digital payments and connect with customers in both cities and rural communities.
Sustaining that growth requires heavy investment. During the year, MTN Uganda spent Shs549.4 billion on network infrastructure, expanding its 4G population coverage to 88.6% and continuing the rollout of 5G services in major urban areas.
Sylvia Mulinge, MTN chief executive officer
According to the company, these investments are critical not only for improving customer experience but also for enabling broader digital inclusion.
“Reliable connectivity is the foundation of a modern digital economy,” said Sylvia Mulinge, the company’s chief executive officer. “Our continued investment in network infrastructure is about ensuring that individuals, businesses and communities across Uganda can access the opportunities created by a connected world.”
Beyond its financial performance, MTN Uganda says it continues to play a significant role in supporting the wider economy. In 2025, the company contributed Shs1.5 trillion in direct and indirect taxes to government.
Its social investment arm, the MTN Foundation, also channelled Shs5.1 billion into community programmes focused on education, healthcare and digital inclusion, reaching more than 22,400 beneficiaries across the country.
The company’s board has proposed a final dividend of Shs8.25 per share, bringing the total dividend for the year to Shs28.75 per share. In total, shareholders are set to receive Shs643.7 billion in payouts.
As the largest listed company on the Uganda Securities Exchange, MTN Uganda remains a bellwether for investor confidence in the country’s technology and digital services sector.
Looking ahead, the company expects demand for connectivity and digital services to continue rising as more Ugandans come online and adopt digital financial tools. MTN Uganda says it is maintaining its medium-term outlook of upper-teens service revenue growth while sustaining EBITDA margins above 50%, supported by continued investment in network capacity and digital platforms.
 

www.independent.co.ug, https://www.independent.co.ug/mtn-uganda-profit-jumps-to-shs-678-8bn-as-data-fintech-drive-growth/