MTN Uganda has reported strong half-year results for 2025, driven by surging demand for data services and financial technology solutions as Ugandans increasingly embrace the digital economy for communication, business, and daily transactions.
For the six months ending June 30, total revenue rose 13.3% year-on-year to Shs 1.7 trillion. The company attributed the growth to heightened connectivity needs, rising adoption of mobile money, and continued investment in network expansion and customer experience.
Data services recorded the fastest growth, with revenue jumping 31.3% to Shs 490.2 billion as active subscribers grew 23.4% to 10.8 million. MTN said the trend reflects wider internet penetration and higher usage of smartphones, video streaming, online education, and remote working tools.
Fintech income increased 18.6% to Shs 524.6 billion, supported by the growing popularity of mobile money and digital payments. The fintech user base expanded 6% to 13.3 million, underscoring mobile money’s central role in Uganda’s financial landscape. Voice services, while still significant, remained stable at Shs 629 billion, up 0.4% year-on-year.
“Our strong performance is anchored in the trust our customers place in MTN and our continued focus on enhancing the network, expanding access, and improving service quality,” said Sylvia Mulinge, chief executive officer of MTN Uganda. “We are committed to driving inclusive growth through both connectivity and digital financial inclusion.”
MTN’s total subscriber base grew by 10.2% to 22.8 million, supported by Shs 219.7 billion in capital expenditure, which funded the deployment of 355 new sites. This extended 4G population coverage from 87.8% at the end of 2024 to 88.2% by June 2025, while 5G coverage grew to 19%, up from 15.3% six months earlier. The company also expanded its fibre-optic network to support broadband demand.
Earnings before interest, tax, depreciation, and amortization rose 17.8% to Shs 924.2 billion, reflecting efficiency gains and customer growth. Profit after tax, however, dropped 9.7% to Shs 267 billion due to a one-off settlement with the Uganda Revenue Authority amounting to Shs 110.9 billion. Without the settlement, underlying profit would have grown 27.8% to Shs 377.9 billion.
The board declared an interim dividend of Shs 10.0 per share, worth Shs 223.8 billion, to be paid on September 19, 2025.
Beyond financials, MTN continued its social investment through the “21 Days of Y’ello Care” programme, partnering with cultural kingdoms to support hospitals and schools, reaching more than 67,000 people. Total CSR spending stood at Shs 1.6 billion, focusing on health, education, and digital literacy.
Looking ahead, Mulinge said MTN will sustain high investment in infrastructure to expand rural broadband and deepen financial inclusion. Analysts believe the company’s dual focus on data and fintech will remain the main growth driver in Uganda’s rapidly digitizing economy, fuelled by smartphone adoption, a youthful population, and the increasing reliance on mobile payments.