MTN Uganda Limited has reported solid financial performance for the year ended December 31, 2025, with strong growth in data usage and fintech services helping offset a challenging operating environment.
The telecom operator recorded total revenue of Ush3.6 trillion, representing a 13.6% increase from the previous year. Service revenue grew by 13.4% to Ush3.57 trillion, while earnings before interest, tax, depreciation and amortization (EBITDA) rose 17% to Ush1.9 trillion. The company’s EBITDA margin improved by 1.6 percentage points to 53.8%.
Profit after tax increased by 5.8% to Ush678.8 billion. However, when adjusted for a one-off tax settlement of Ush110.9 billion linked to a transfer pricing audit covering 2012 to 2024, adjusted profit after tax grew 23.1% to Ush789.7 billion.
The board approved a final dividend of Ush8.25 per share, bringing the total dividend payout for the year to Ush28.75 per share.
Chief Executive Officer Sylvia Mulinge said the results reflected the company’s continued focus on customer-centric services, supported by sustained investment in network infrastructure and digital innovation.
She noted that Uganda’s improving macroeconomic environment also supported the company’s performance. Inflation averaged 3.6% in 2025, while the Ugandan shilling appreciated for the second consecutive year, supported by stronger export receipts and increased foreign investment inflows.
Data services remained a major growth engine, with revenue rising 28.8% to Ush1.0 trillion. Active data users increased by 18.6% to 12 million, while data traffic surged by 51.2%. Smartphone penetration on the network rose to 42.8%, driven partly by device financing initiatives.
Fintech services also recorded strong growth, with revenue increasing 17.3% to Ush1.1 trillion. The company reported 14.7 million fintech subscribers, up 6.5% year-on-year. Transaction volumes rose by 16.8% to 5 billion, while the total value of transactions climbed 23.3% to Ush195.5 trillion.
Network investment remained a priority, with MTN Uganda spending Ush549.4 billion on infrastructure upgrades and expansion. By the end of 2025, 4G population coverage had reached 88.6% while 3G coverage stood at 96.2%. The company also expanded its 5G network, adding 126 sites to reach 19% population coverage.
Looking ahead, MTN Uganda said it expects continued growth supported by favorable economic conditions and increased demand for digital and financial services. The company plans to sustain investment in network expansion, home broadband, and fintech services to support Uganda’s digital transformation.
Book closure for the dividend will take place on April 10, 2026, with payments scheduled for April 30, 2026. The company’s audited financial statements were approved by the board on March 12, 2026, with an unqualified audit opinion.