Data drives MTN Uganda to Shs295.7b profit in 1st half of 2024

The increased use of internet data by the general public has driven MTN Uganda’s profit after tax to Shs295.7 billion in the first half of 2024, compared to Shs225 billion over the same period in 2023.

MTN Uganda Chief Executive Officer, Sylvia Mulinge, says this development indicates a growing preference among Ugandans for internet services over other services provided by the company.

“Our two-pronged strategy of deepening smartphone penetration through device financing and strategic partnerships with device manufacturers has yielded a 5.9 percentage point growth to 41.6 percent. We have continued to improve our data value proposition which has reduced churn and increased usage,” Ms Mulinge said.

She says the company’s performance report indicates that data revenue accelerated by 28.6% boosted by a 26.8% growth in data users to 8.8 million.

Written by Moses Ndhaye