MTN Uganda’s Profit After Tax Declined by 9.7% in First Half of 2025, Subscriber Base Grew to 22.8 Million

MTN Uganda’s profit after tax declined by 9.7% in the first half of 2025, dropping to Ush 267 billion. This drop was mainly because the company had to pay a big tax bill after a one-time settlement with the Uganda Revenue Authority. MTN Uganda had to pay Ush 110.9 billion in back taxes due to an audit that covered many years, and this hit their profit for the period.

But if you look past this unusual tax payment, MTN Uganda’s adjusted profit after tax actually went up by 27.8%. This shows the company’s business is doing well overall. The adjusted numbers tell us that the core of MTN Uganda’s work – providing phone and internet services – is strong and growing.

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At the same time, MTN Uganda’s subscriber base grew to 22.8 million people. This is a 10.2% increase from last year. The company says this happened because they invested a lot in expanding their network. They built 355 new sites, improving 4G coverage to 88.2% and 5G coverage to 19%. More coverage means more people can get good internet and phone service, so more customers signed up.

MTN Uganda also made more money overall. Their total revenue increased by 13.19% to Ush 1.72 trillion compared to last year, and service revenue – which comes from data, voice calls, and mobile money – grew by 13.3% to Ush 1.7 trillion. Even though they faced challenges, their main services are earning more.

Looking closer, data revenue jumped a lot – it rose by 31.3% from Ush 373.2 billion to Ush 490.2 billion. More people used data, and those who did used more of it. The number of active users went up by 23.4%, and data used per person increased by 15.6%. This shows customers are relying more on internet services, which is great for MTN Uganda.

Voice revenue only grew slightly by 0.4%, from Ush 626.7 billion to Ush 628.9 billion. This small rise happened because the government changed the mobile termination rates, making some calls less profitable. However, outgoing call revenue still grew by 4.7%, helped by new phone packages that encouraged more calling.

Mobile money, a key part of MTN Uganda’s business, also performed well. Fintech revenue went up 18.6%, reaching Ush 524.6 billion from Ush 442.3 billion. The number of mobile money transactions rose by 20.3% to 2.4 billion, and the total value of money sent increased by 28.7% to Ush 89.3 trillion. This means more people are using MTN Uganda’s mobile money service for their payments and transfers.

MTN Uganda recently got approval to separate its mobile money business, MTN MoMo, from its main telecom company. This is expected to help both businesses grow faster and serve customers better.

So, while MTN Uganda’s profit after tax declined by 9.7% in the first half of 2025 because of the tax settlement, many other things are looking up. Their subscriber base grew to 22.8 million, revenues increased, and important financial measures like EBITDA rose by 17.8% to Ush 924.2 billion.

The company’s CEO, Sylvia Mulinge, said that despite challenges like inflation and changes in regulations, MTN Uganda did well. She also mentioned the Ugandan shilling got stronger against the US dollar because of higher export earnings and money sent home by Ugandans living abroad.

Looking ahead, MTN Uganda expects even better results in the second half of 2025. They believe the demand for data and mobile money will keep growing. They plan to introduce new services like Yinvesta, where customers can invest money through their phones, and Cover by MoMo, an insurance product.

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MTN Uganda will keep focusing on improving their network’s quality and expanding their coverage to make sure their growing customer base stays happy. This will help them stay ahead in Uganda’s competitive telecom market.

Although MTN Uganda’s profit after tax declined by 9.7% in the first half of 2025, thanks to a one-time tax bill, the company’s subscriber base grew to 22.8 million. Plus, their data, voice, and fintech services all showed strong growth. MTN Uganda looks set to build on this progress in the coming months as they continue to invest in their network and new products.

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