-
Profit after tax rose by 29.6% to Shs 459.4 billion, pushed by strategic information and fintech expansions.
-
Service income up by 20.1%, with information income growing 30.1% and fintech by 23.5%.
-
Total subscriber base grew by 13.3% to 21.6 million, with substantial positive aspects in information and cell cash customers.
-
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 enhance in revenue after tax, totaling Shs 459.4 billion for the 9 months ending September 30, 2024.
The development 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 positive aspects in information (up 30.1%) and fintech companies (up 23.5%).
MTN Uganda’s CEO, Sylvia Mulinge, attributed this sturdy development to the corporate’s strategic give attention to increasing high-demand companies whereas bettering operational efficiencies.
“Our substantial development in revenue and repair income highlights MTN Uganda’s position as a frontrunner 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 develop entry to digital and monetary companies 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 development was supported by MTN Uganda’s sustained funding in 4G and the launch of 5G companies, offering prospects with sooner, extra dependable connectivity.
MTN Uganda invested Shs 297.9 billion in capital expenditure, primarily to develop 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 sooner and extra dependable connectivity, important for financial development and innovation.”
Data and fintech Services
MTN Uganda’s information income development of 30.1% was pushed by a 24.1% enhance in information subscribers to 9.3 million and an increase in information utilization per buyer. The firm’s system financing technique additionally helped enhance smartphone penetration, contributing to a 48.5% rise in information visitors.
“Data and fintech are key drivers of MTN Uganda’s development, and we’re thrilled to see how these companies are positively impacting our subscribers,” mentioned Mulinge. “By making cell and digital companies 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% enhance from final 12 months, because the variety of energetic 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 positive macroeconomic setting 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 give attention to executing its Ambition 2025 technique, geared toward strengthening digital inclusion, increasing monetary companies, and investing in infrastructure to assist development.
The firm upgraded its service income goal to “upper-teen development” and expects to keep up an EBITDA margin above 50%, reinforcing its market management and development potential.
“As we glance towards the long run, MTN Uganda is dedicated to sustaining our development momentum whereas staying true to our mission of reworking lives by means 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.”
