MTN Uganda wrapped up 2024 with impressive growth across its operations, driven by a stable economic climate and strong commercial execution. The company reported a 19.5% rise in service revenue, fuelled by dynamic customer acquisition, innovative value propositions, and continued investment in network infrastructure.
A major highlight of the year was the successful completion of the second phase of its public listing in June. This secondary market offer increased public shareholding to 20%, with the offer being 2.3 times oversubscribed at a share price of Ush 170. “We are grateful for the opportunity to create further shared value, partnering with our local shareholders to deepen the Uganda capital markets,” said Sylvia Mulinge, CEO of MTN Uganda.
Beyond financial gains, the company remained committed to community impact and maintaining a well-optimised balance sheet. As it moves forward, MTN Uganda continues to build on its fintech success, solidifying its position in Uganda’s growing digital economy.
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