MTN Uganda cemented its dominance in the Ugandan telecom landscape, reporting a stellar 21.4% surge in after-tax profits (PAT) to a staggering UGX 493 billion for the year ending December 31, 2023. This press release dives into the key drivers behind this impressive performance and unveils MTN Uganda’s ambitious plans for the future.
At the heart of MTN Uganda’s success lies a booming data market. The company witnessed a significant 16.1% increase in service revenue, totaling UGX 2.63 trillion. This growth was fueled by a remarkable 21.6% rise in data revenue, reaching UGX 621.9 billion. This surge is further supported by a 22.4% expansion in active data subscribers, now reaching a substantial 8.2 million.
MTN Uganda is not resting on its laurels. The company is committed to continuous improvement, as highlighted by CEO Sylvia Mulinge.
- Network Expansion: Deployment of an additional 350 sites with a focus on 4G LTE has significantly enhanced coverage by 6.7 percentage points to an impressive 85.1%. Additionally, 3G and 2G networks now boast coverage of 92.6% and 98.6%, respectively.
- 5G and Speed Leadership: The company proudly launched 5G technology with 37 sites and secured the coveted title of Uganda’s fastest internet provider by Ookla.
- Smartphone Growth: The innovative MTN Kabode program contributed to a remarkable 26.8% growth in smartphone users, pushing smartphone penetration on the MTN network to 39.1%.
- e-SIM for Seamless Connectivity: MTN Uganda introduced cutting-edge e-SIM technology, offering customers greater flexibility and convenience in managing their mobile plans.
MTN Uganda recognizes the importance of financial inclusion. A new partnership with Ericsson leverages the Ericsson Wallet Platform to expand the capabilities of MTN’s Mobile Money (MoMo) service. This paves the way for secure and convenient mobile transactions for individuals and businesses alike.
MTN Uganda remains dedicated to progress. Key focus areas for the future include:
- Network Infrastructure: Continued investment in network infrastructure to further enhance mobile data and home broadband offerings.
- Fintech Innovation: Refining lending products through strategic partnerships and the Wesotinge campaign.
- National Coverage Commitment: Meeting its National Telecom Operating Licence obligations, striving for 90% geographical coverage across Uganda by 2025.
As a testament to its robust financial health, MTN Uganda proposed a substantial dividend of UGX 403.0 billion to its shareholders. This underscores the company’s commitment to shareholder value and its impressive growth trajectory.
 to a stagg){kind=link}