MTN Uganda subscriber base swells to 22 Million

MTN Uganda has announced a significant expansion of its customer base, with subscriber numbers reaching 22 million by the end of 2024.

This surge in subscribers is a key component of the company’s robust financial performance, which also includes a 30.1% increase in profit after tax, reaching Ush 641.5 billion.

The substantial growth in subscribers reflects MTN Uganda’s successful strategies in expanding its services and improving network infrastructure.

Alongside the overall subscriber increase, the company has seen significant growth in specific user segments. Active data subscribers rose by 22.4% to 10.1 million, and fintech subscribers increased by 13.9% to 13.8 million.

This growth is supported by MTN Uganda’s ongoing investments in its network. The company has expanded its 4G and 5G coverage, enhancing connectivity for its growing customer base. This network expansion has played a crucial role in attracting and retaining subscribers.

In addition to the growth in overall subscribers, MTN Uganda’s fintech services, particularly mobile money, have continued to be a major driver of growth. Mobile money transactions have seen a substantial increase, reflecting the growing adoption of digital financial services in Uganda.

The board has approved an increase in the final dividend declaration, by 32.8% to Ush 8.5 per share (Ush 190.3 billion)

The company’s strong performance also includes significant increases in revenue across various sectors.

Data revenue saw a notable jump, and the company has launched initiatives to further enhance its digital service offerings.