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MTN Uganda reported 9M 2026 revenue up 8.5% to UGX2.879 trillion, led by fintech and data, while warning of pressure from costs and Wi Fi.
MTN Uganda reported higher revenue and profit after tax for the nine months ended 30 September. Growth came mainly from data and fintech. The company also flagged slower data revenue growth, higher costs, and weaker operating cash flow.
MTN Uganda said total revenue rose 8.5% to UGX2.879 trillion for the nine months ended 30 September. Service revenue reached UGX2.843 trillion.
Profit after tax climbed 21.2% to UGX571.2 billion. MTN Uganda said this increase largely reflects the absence of a tax settlement that depressed the previous year’s earnings. On an adjusted comparison, profit fell 1.9%.
CEO Sylvia Mulinge said, “MTN Uganda’s third quarter was marked by a challenging operating environment, with macroeconomic and market-specific headwinds moderating topline growth and commercial momentum.”
MTN Uganda added 2.9 million subscribers year on year, taking its base to 26.4 million, up 12.5%. It reported a subscriber market share of 63.4%.
Active data customers rose 14.3% to 12.6 million. Active fintech users increased 8.6% to 15.5 million.
MTN Uganda said data and fintech together generated approximately UGX1.763 trillion, which was 62.0% of service revenue and 86% of the increase. Data revenue rose 12.8% to UGX860.6 billion. Fintech revenue grew 11.6% to UGX902.8 billion.
The company also reported transaction volumes up 10.7% to 4.0 billion, and transaction value up 18.3% to UGX166.6 trillion. MTN Uganda noted that transaction value is money moving through the platform, not revenue earned by the company. It also reported more than 832,000 MoMo app customers.
MTN Uganda said data revenue growth is slowing, and management partly attributed this to competition from unauthorised public Wi Fi hotspots. It also pointed to rising costs and weaker operating cash flow.
On fintech, the company said it plans to expand everyday MoMo use. It cited Entebbe Expressway payments and Travel by MoMo bookings as examples.
Primary Source: CEO East Africa
Chief Content Officer (Too Long; Didn't Resign)
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