MTN Uganda Ltd has announced a second interim dividend of USh 10.5 per share, a 40 percent increase from the previous payout, following strong third-quarter earnings that reflect the technology company’s growing leadership in digital and financial services.
The dividend, totaling USh 235.1 billion, will be paid on December 19, 2025, with book closure set for December 1, 2025.
The decision underscores management’s confidence in MTN Uganda’s strong cash generation and sustainable earnings outlook. Profit after tax rose 2.6 per cent year-on-year to USh 471.2 billion, while adjusted profit, excluding a one-off tax settlement, increased 26.7 percent to USh 582.1 billion, highlighting the underlying strength of the business.
MTN Uganda Chief Financial Officer, Andrew Bugembe, said the results reaffirm the company’s focus on delivering consistent value to investors.
“Our strong financial results and higher dividend reflect MTN Uganda’s commitment to creating long-term shareholder value. We remain disciplined in our capital management, balancing returns to investors with continued investment in network expansion and innovation,” he said.
For investors, MTN Uganda’s results signal both resilience and growth potential in a dynamic market. The company maintained an EBITDA margin of 53.9 percent, up from 51.7 percent a year earlier, as EBITDA grew 18.5 percent to USh 1.4 trillion. This improvement points to greater efficiency and stronger performance in higher-margin digital services.
Service revenue for the nine months to September 2025 rose 13.6 percent to USh 2.6 trillion, driven by strong growth in data and fintech, which continue to be the engines of the company’s Ambition 2025 strategy.
Data revenue increased 30.2 percent to USh 762.8 billion, reflecting Uganda’s rapid digital adoption and growing dependence on internet-based communication, entertainment, and commerce. This performance highlights the payoff from MTN’s continued investment in high-speed 4G and 5G networks that are enabling faster and more reliable connectivity across the country.
Fintech revenue rose 17.9 percent to USh 809 billion, supported by the expansion of MTN MoMo, which processed transactions worth USh 140.8 trillion, up 23 percent from the previous year. The number of active fintech users reached 14.2 million, demonstrating how digital financial services are deepening inclusion and transforming the cashless economy.
MTN Uganda’s Chief Executive Officer, Sylvia Mulinge, said the company’s progress reflects the power of technology to drive shared prosperity.
“Our performance shows that digital and financial inclusion are not just commercial opportunities, they are catalysts for national development. When more Ugandans come online, learn, trade, and transact digitally, the entire economy benefits,” she said.
She added that MTN is building the foundation for Uganda’s digital future. “We are not only delivering financial returns but also creating opportunities for people, businesses, and communities to thrive. Our mission is to drive innovation and empower every Ugandan to participate meaningfully in the digital economy,” she said.
MTN Uganda invested USh 299.8 billion in capital expenditure during the period to support network modernisation and service quality. The company extended 4G coverage to 88.3 percent of the population, increased 5G to 19 percent, and rolled out 237 new sites and 5,880 kilometres of fibre. These investments are enabling the company to meet rising data demand while opening new opportunities for entrepreneurs, small businesses, and rural communities that depend on reliable connectivity.
The company’s solid financial performance has been matched by growing recognition for its brand and workplace culture. MTN Uganda was named Uganda’s Most Admired Brand by Brand Africa and Employer of the Year 2025 by the Federation of Uganda Employers. It also released its first Sustainability Report, highlighting progress in bridging the digital divide, empowering youth, and supporting innovation through programs such as the Pachi Panda Innovation Challenge.
Bugembe said MTN’s strong fundamentals position it well for the future. “An EBITDA margin above 50 percent shows that our core business is not only growing but doing so efficiently. Our stable cash flow allows us to continue investing in infrastructure and delivering attractive returns to shareholders,” he said.
Looking ahead, MTN Uganda expects continued double-digit growth in service revenue, supported by rising smartphone adoption, fintech expansion, and a favourable economic environment. With its Ambition 2025 strategy as a guiding framework, the company plans to deepen digital adoption, expand financial inclusion, and support Uganda’s long-term digital transformation agenda.
