MTN Uganda Limited has reported a significant increase in its subscriber base for the nine months ending September 30, 2026, despite facing a challenging macroeconomic environment. The telecommunications giant saw its total subscribers rise to 26.4 million, marking an increase of 12.5%, as detailed in the company's unaudited financial results released on November 5, 2026.
The report highlights a notable expansion in active data subscribers, which grew by 14.3% to 12.6 million. Financially, MTN Uganda achieved a total revenue of Ush 2.88 billion, reflecting an 8.5% increase year-on-year. Service revenue, which also rose by 8.5%, was primarily driven by growth in data and fintech services. These sectors have become pivotal to the company's revenue, contributing 62.0% of the total service revenue, up from 60.0% in the previous year.
According to information available from the Uganda Securities Exchange (USE), MTN Uganda continues to lead the market with a 63.4% subscriber market share. The company's fintech segment has shown resilience, with revenue growth reaching 13.3% in the third quarter and the transaction value surging by 18.3% to Ush 166.6 trillion. Data demand has also remained robust, with traffic increasing by 31.9% and average usage per subscriber climbing by 15.4%.
Despite macroeconomic headwinds, including inflation averaging 4.3% in the quarter and a 7.0% depreciation of the Uganda Shilling, MTN Uganda has maintained its strategic focus on infrastructure investment, digital services, and operational efficiencies. This strategic approach has enabled the company to deploy 255 new sites and expand its fiber network to over 40,000 km, significantly boosting 5G and 4G coverage.
Financially, the company reported an EBITDA of Ush 1.47 billion, a 3.0% increase, while the Profit After Tax (PAT) rose by 21.2% to Ush 571.25 million. The Board of Directors recommended a reduced dividend per share to align with near-term cash generation, declaring a Q3 interim dividend of Ush 4.0 per share, amounting to Ush 89.6 billion. This decision underscores MTN Uganda's commitment to sustainable shareholder returns while continuing to invest in long-term growth initiatives.
MTN Uganda's efforts to enhance its digital ecosystem are evident in the recent launch of MTN TV by AfroMobile, offering an array of live TV channels and on-demand content. Additionally, fintech innovations such as the MoMo app enhancements and the introduction of Entebbe Expressway toll payments aim to deepen customer engagement and expand the platform's everyday use.
The company also marked a sustainability milestone by becoming the first telecommunications operator in Uganda to disclose Scope 3 carbon emissions. Together with WWF Uganda, MTN Uganda launched the second PachiPanda Innovation Challenge, promoting environmental solutions. Through its Y'ello Care programme, the company has actively supported maternal and newborn healthcare in underserved communities.
Amid these developments, MTN Uganda remains focused on addressing challenges such as unauthorized public Wi-Fi resellers and the impact of revised Mobile Termination Rates on its voice revenues. Nevertheless, the company is poised to capture future growth opportunities, enhancing network quality and capacity to deliver a superior customer experience.