MTN Uganda is riding a wave of success, with its subscriber base swelling to an impressive 22 million by the end of 2024.
This milestone comes alongside a sharp rise in profits and a generous dividend boost, showcasing the telecom giant’s dominance in Uganda’s digital landscape.
A Financial Powerhouse
The company’s profit after tax skyrocketed by 30.1%, hitting a staggering Ush 641.5 billion.
This financial triumph didn’t go unnoticed by shareholders, as the board approved a 32.8% increase in the final dividend payout, now standing at Ush 8.5 per share—a total of Ush 190.3 billion.
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What’s Driving the Growth?
MTN Uganda’s success isn’t accidental. The company has doubled down on expanding its network infrastructure, rolling out 4G and 5G coverage to meet the growing demand for faster, more reliable connectivity.
This investment has paid off, with active data subscribers climbing 22.4% to 10.1 million.
But it’s not just about data. MTN’s fintech services, particularly mobile money, have become a cornerstone of its growth.
Fintech subscribers surged by 13.9% to 13.8 million, reflecting Uganda’s rapid adoption of digital financial solutions.
Key Growth Highlights:
- Subscriber Base: 22 million, up significantly from previous years.
- Data Users: 10.1 million active data subscribers, a 22.4% increase.
- Fintech Growth: 13.8 million mobile money users, up 13.9%.
- Network Expansion: Enhanced 4G and 5G coverage nationwide.
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The Bigger Picture
MTN Uganda’s growth mirrors a broader trend in Africa, where mobile connectivity and digital services are transforming economies.
With over 60% of Ugandans now using mobile money, the company’s fintech innovations are not just driving profits—they’re reshaping how people live and do business.
