MTN Group has highlighted Uganda as a key market in its strategy to strengthen its presence in East Africa. As Africa’s largest telecommunications operator, MTN recognises Uganda as a growing hub for data services, financial technology (fintech), and digital infrastructure.
During a roundtable discussion attended by editors, MTN Group President and CEO Ralph Mupita shared insights about the company’s performance and future aspirations. He detailed MTN’s capital investment plans and technological deployment strategies, noting that making affordable devices accessible is crucial for bridging the usage gap in the region.
Mupita expressed his surprise at Uganda’s relatively low smartphone adoption rates, indicating a significant opportunity for device financing initiatives to boost market growth. “We are witnessing a surge in data usage, and we believe there are substantial growth opportunities that will positively impact our overall group results coming from Uganda,” he stated.
His optimism is supported by MTN Uganda’s impressive financial performance in the 2024 fiscal year. The subsidiary announced a record net profit of USD$175 million, leading to significant dividends for its shareholders.
In addition to its financial accomplishments, MTN Uganda has established a dominant position in the fintech sector, boasting 13.8 million fintech users and 10.1 million data subscribers. As the leading mobile operator in Uganda, MTN serves all 134 districts with a wide range of offerings, including voice, data, digital, and mobile financial services. The company operates through a network of approximately 120,000 mobile money agents, 200 service stores, and 14 main distributors.
With a strong commitment to boosting Uganda’s digital landscape, MTN aims to leverage these opportunities for sustained growth in the region.
