MTN Uganda has reaffirmed its commitment to upholding strong leadership and governance by reappointing Karabo Nondumo and Dr Winnie Tarinyebwa Kiryabwire as non-executive directors.
This move is expected to further strengthen MTN Uganda’s competitive edge and market dominance in the telecom sector.
In a statement released on May 16, following the company’s hybrid general meeting, MTN Uganda’s Company Secretary, Enid Edroma, also announced a dividend payout of UGX 190.3 billion.
Shareholders approved several key resolutions, including the acceptance of the audited financial statements for the fiscal year ending December 31, 2024. A final dividend of UGX 8.5 per share (UGX 109.3 billion) was declared.
Additionally, Ernst & Young Uganda was appointed as the external auditor for the fiscal year ending December 31, 2025, with their remuneration also approved by the directors.
MTN Uganda upgrades network to enhance data, mobile money services
Last week, the telecom company announced that MTN Uganda is launching a massive nationwide network upgrade to improve voice, data, and mobile money services and give consumers a seamless online experience.
The three-month program, which ends in July 2025, is a crucial component of the business’s larger plan to improve customer satisfaction nationwide and fortify digital connectivity.
MTN Uganda’s CEO, Sylvia Mulinge, emphasised that the upgrade was about empowering daily life rather than just improving technology.
“This upgrade is about transforming the daily digital experiences of millions of Ugandans. From students streaming lectures to entrepreneurs managing mobile transactions, our enhanced network will enable every individual to reach their full potential. Together, our network is unstoppable,” Mulinge said.
It was able to expand its customer base by delivering high data speeds of up to 500 Mbps at reasonable costs as part of its value proposition.
The contribution of data revenue to service revenue increased by 4.0 percentage points to 28.0 percent (Q1 24: 24.0%), continuing its upward trend.
Lower inbound voice revenue as a result of the industry-wide MTR review contributed to the 1.5 percent increase in voice revenue. But because more people were using its upgraded all-network bundles, the lower prices led to a 16.5 percent increase in its voice traffic, which lessened the impact of the MTR cuts.
Its continued momentum in customer acquisition and the increased investment in network coverage further solidified this position, resulting in a 14.6 percent YoY increase in its subscriber base of 2.9 million. During the period, its outgoing voice revenues increased by 11.9 percent thanks to its robust growth and strict CVM.
The contribution of voice revenue to service revenue decreased by 4.5 percentage points to 38.0 percent (Q1 24: 42.5 percent) in favour of fintech and data.
The growth in its content revenue and its video streaming subscriptions due to the increased use of the My MTN app drove a 23.5 percent increase in digital revenue. At 0.4 percent (Q1 24: 0.4 percent), digital’s share of service revenue stayed constant.
MTN Uganda’s subscriber base grew to 22.8 million in Q1 2025
MTN Uganda’s subscriber base grew to 22.8 million in the first quarter of 2025. According to the company, the increase is due to its customer-centric approach.
Its data and fintech subscribers increased by 19.4 percent and 9.8 percent, respectively, as a result of its ongoing efforts to innovate and offer solutions for its clients.
Its data and fintech portfolios contributed more to the 13.5 percent growth in service revenue. Through cost-cutting measures, it was able to raise its EBITDA by 13.7 percent, which increased its margin by 0.4 percentage points to 52.4 percent.