MTN Uganda Reports 9.7% Profit Decline; Subscribers Surge

MTN Uganda’s profit after tax (PAT) decreased by 9.7% year-on-year to Ush 267 billion in the first half of 2025. Despite this, subscriber base reached a milestone of 22.8 million, indicating growth of 10.2%. A significant factor driving this decline is a once-off tax payment related to a transfer pricing audit, resulting in a reduction of PAT by 9.7% and impacting the profit margin to 3.9 percentage points. 5G coverage also expanded to 19%, while data revenue surged by 31.3% year-on-year. 20.3% increase in transaction volume, and 28.7% in value of mobile money transactions reflect a strong expansion of fintech.