2024 marked a transformative year for MTN Uganda, characterized by exceptional growth across all business segments despite navigating a dynamic operating environment. The telecommunications giant attributed this success to strategic investments in network infrastructure, enhancing customer experience, and ensuring that all Ugandans benefit from a modern, connected life.
Sylvia Mulinge, CEO of MTN Uganda, expressed her appreciation for the collective efforts that fueled this remarkable achievement: “For this success, I extend my sincere gratitude to my colleagues at MTN, our regulators, business partners, and our valued customers for their unwavering support throughout the year. Together, we are unstoppable.”
Performance Highlights
MTN Uganda recorded significant financial and operational gains in 2024:
| Metric | FY 2024 | YoY Growth |
| Service Revenue | Ush 3.1 trillion | +19.5% |
| EBITDA | Ush 1.7 trillion | +20.7% |
| Profit After Tax | Ush 641.5 billion | +30.15% |
| Capital Investment | Ush 418.0 billion | +18.3% |
| Overall Mobile Subscribers | 22.0 million | +13.2% |
Data Growth and Connectivity Expansion
In an era driven by digital transformation, MTN Uganda made substantial advancements in expanding internet access and data-driven services:
| Metric | FY 2024 | YoY Growth |
| Data Revenue | Ush 811.8 billion | +30.5% |
| 4G Coverage | 87.9% | +2.8pp |
| Fiber Network Expansion | 17,774 km | +47.2% |
| Smartphone Penetration | 44.9% | +5.8pp |
| Active Data Subscribers | 10.1 million | +22.5% |
Revolutionizing Fintech Services
MTN Uganda’s fintech division continued to drive financial inclusion, recording remarkable progress in mobile money and digital payments:
| Metric | FY 2024 | YoY Growth |
| Fintech Revenue | Ush 947.5 billion | +22.8% |
| Transaction Value | Ush 158.6 trillion | +19.95% |
| Active Fintech Subscribers | 13.8 million | +13.9% |
| MoMo Merchants | 85.9k | +19.6% |
| MoMo Agents | 212.5k | +36.8% |
A Future of Connectivity and Inclusion
MTN Uganda’s commitment to innovation and service excellence remains steadfast, with continuous investments aimed at bridging the digital divide and enhancing financial accessibility. As the company forges ahead, its vision of a digitally empowered Uganda remains at the heart of its strategic priorities.
With its unparalleled growth in 2024, MTN Uganda is not just redefining telecommunications but also spearheading digital transformation and economic empowerment across the nation.
