Business
MTN’s profit after tax rises to sh571b in nine months
The two main growth engines, data and fintech, accounted for 86% of the increase in service revenue and together made up 62% of service revenue, compared with 60% a year earlier.
Sylvia Mulinge, CEO at MTN Uganda. (File photo)
By: Ali Twaha, Journalist @New Vision
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MTN Uganda posted a profit after tax of sh571.2b for the nine months ended 30 September 2026, up 21.2% from sh471.2b in the same period last year.
Total revenue increased 8.5% to sh2.879 trillion. Service revenue, which excludes device and SIM card sales, also rose 8.5% to sh2.843 trillion.
The two main growth engines, data and fintech, accounted for 86% of the increase in service revenue and together made up 62% of service revenue, compared with 60% a year earlier.
“We added 2.9 million subscribers, expanding our base to 26.4 million, retaining market leadership with a 63.4% subscriber market share. Active data subscribers grew by 14.3% to 12.6 million,” Sylvia Mulinge, CEO at MTN Uganda, said.
“These growth engines generated 86% of the service revenue increase and now represent 62.0% of service revenue. Fintech remained resilient,” she said.
“We added 2.9 million subscribers, expanding our base to 26.4 million, retaining market leadership with a 63.4% subscriber market share. Active data subscribers grew by 14.3% to 12.6 million,” Sylvia Mulinge, CEO at MTN Uganda, said.
“These growth engines generated 86% of the service revenue increase and now represent 62.0% of service revenue. Fintech remained resilient,” she said.
Data revenue grew 12.8% to sh860.6b. Traffic rose 31.9%, and average usage per subscriber increased 15.4%. Fintech revenue increased 11.6% to sh902.8b, with growth accelerating to 13.3% in the third quarter.
Mobile money revenue rose 11.8% to sh884.6b. Transaction volumes grew 10.7% to 4 billion, and transaction value rose 18.3% to sh166.6 trillion.
The agent network expanded 20.9% to 280,800 while the merchant base more than doubled to 202,800. Voice revenue edged up 1.6% to sh964.1b despite the impact of a revised mobile termination rate introduced earlier in the year.
The board declared a third-quarter interim dividend of sh4.0 per share, bringing total dividends declared for the nine months to sh21.25 per share, up 3.7% from the prior year and representing a payout ratio of 83.3% of nine-month profit after tax.
Mobile money revenue rose 11.8% to sh884.6b. Transaction volumes grew 10.7% to 4 billion, and transaction value rose 18.3% to sh166.6 trillion.
The agent network expanded 20.9% to 280,800 while the merchant base more than doubled to 202,800. Voice revenue edged up 1.6% to sh964.1b despite the impact of a revised mobile termination rate introduced earlier in the year.
The board declared a third-quarter interim dividend of sh4.0 per share, bringing total dividends declared for the nine months to sh21.25 per share, up 3.7% from the prior year and representing a payout ratio of 83.3% of nine-month profit after tax.