MTN telcom posts UGX 295.7bn profit
Officials at MTN Uganda have reported robust growth according to the interim financial results, with the telecom’s service revenue surging 20.4% to $402,694 (Ush1.505.4 billion). The telco released its interim results, highlighting the success of its home broadband plan, which saw a 130% increase in active subscribers in a highly competitive market. In the quarter, MTN offered 4G and 5G speed-based fixed wireless packages to enhance its proposition and increased its fiber network by 54.2% year on year (YOY) to 12,102 km. Chief Executive Sylvia Mulinge says the firm is committed to expanding the country’s digital landscape. The latest financial results show strong growth driven by both the data and fintech sectors, which grew by 28.6% and 23.5%, respectively. MTN posted a profit after tax of $79 million.
