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Profit after tax rose by 29.6% to Shs 459.4 billion, pushed by strategic information and fintech expansions.
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Service income up by 20.1%, with information income rising 30.1% and fintech by 23.5%.
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Total subscriber base grew by 13.3% to 21.6 million, with substantial features in information and cell cash customers.
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Dividend proposal of Shs 7.5 per share for second interim dividend, reflecting sturdy shareholder returns.
MTN Uganda has introduced a 29.6% year-on-year improve in revenue after tax, totaling Shs 459.4 billion for the 9 months ending September 30, 2024.
The progress was largely attributed to distinctive efficiency in MTN Uganda’s information and fintech segments, aligned with the corporate’s dedication to digital and monetary inclusion in Uganda.
Service income grew by 20.1% year-on-year, reaching Shs 2.31 trillion, with sturdy features in information (up 30.1%) and fintech providers (up 23.5%).
MTN Uganda’s CEO, Sylvia Mulinge, attributed this strong progress to the corporate’s strategic concentrate on increasing high-demand providers whereas bettering operational efficiencies.
“Our substantial progress in revenue and repair income highlights MTN Uganda’s position as a pacesetter in Uganda’s digital transformation journey,” mentioned Mulinge.
“By specializing in our information and fintech verticals and investing in community high quality, we’ve managed to increase entry to digital and monetary providers for hundreds of thousands of Ugandans, whereas additionally enhancing profitability.”
The firm’s subscriber base expanded by 13.3% to 21.6 million, with information subscribers rising by 24.1% and fintech customers by 13.2%. This progress was supported by MTN Uganda’s sustained funding in 4G and the launch of 5G providers, offering prospects with quicker, extra dependable connectivity.
MTN Uganda invested Shs 297.9 billion in capital expenditure, primarily to increase its community footprint and enhance service high quality. This funding supported the rollout of 5G and elevated 4G protection from 83.7% to 87.9%, whereas additionally facilitating the extension of the fiber community throughout the Kampala metropolitan space and key upcountry areas.
“Our funding in digital infrastructure is foundational to delivering a superior buyer expertise and driving Uganda’s digital economic system,” famous Mulinge. “By increasing 4G and launching 5G, we’re empowering Ugandans with quicker and extra dependable connectivity, important for financial progress and innovation.”
Data and fintech Services
MTN Uganda’s information income progress of 30.1% was pushed by a 24.1% improve in information subscribers to 9.3 million and an increase in information utilization per buyer. The firm’s system financing technique additionally helped improve smartphone penetration, contributing to a 48.5% rise in information site visitors.
“Data and fintech are key drivers of MTN Uganda’s progress, and we’re thrilled to see how these providers are positively impacting our subscribers,” mentioned Mulinge. “By making cell and digital providers accessible and reasonably priced, we’re enhancing connectivity and enabling monetary empowerment throughout Uganda.”
MTN’s fintech income elevated by 23.5%, pushed by rising cell cash adoption and transaction volumes. Total cell cash transactions reached Shs 114.5 trillion, a 13.3% improve from final 12 months, because the variety of lively cell cash subscribers additionally grew by 13.2% to 13.2 million.
Enhanced Profitability and Dividends
MTN Uganda’s EBITDA elevated by 22.3%, with the EBITDA margin rising to 51.7%, benefiting from a good macroeconomic surroundings and operational efficiencies. This sturdy monetary efficiency allowed MTN Uganda to declare a second interim dividend of Shs 7.5 per share.
Looking forward, MTN Uganda will proceed to concentrate on executing its Ambition 2025 technique, aimed toward strengthening digital inclusion, increasing monetary providers, and investing in infrastructure to help progress.
The firm upgraded its service income goal to “upper-teen progress” and expects to take care of an EBITDA margin above 50%, reinforcing its market management and progress potential.
“As we glance towards the longer term, MTN Uganda is dedicated to sustaining our progress momentum whereas staying true to our mission of reworking lives by way of digital and monetary inclusion,” mentioned Mulinge. “Our success is pushed by our dedication to our prospects, staff, and stakeholders, and we’re excited in regards to the alternatives that lie forward.”
