MTN Uganda has bounced back from the one-off impact of a UGX 110.9 billion tax settlement with Uganda Revenue Authority (URA). The telecom reported a steady rebound in profit and double-digit revenue growth in its nine-month results to September 2025. MTN posted a 2.6% rise in profit after tax to UGX 471.2 billion, but excluding the tax settlement, underlying profit surged by 26.7% to UGX 582.1 billion. “Our nine-month performance reflected our continued commercial execution and momentum in a competitive operating environment, mitigated by some benefit from the ongoing macroeconomic stability in the country,” said Sylvia Mulinge, Chief Executive Officer…
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By Michael Jjingo In today’s business world, digital transformation is no longer a buzzword thrown around in boardrooms, it’s the air we breathe. The question is not if disruption will come knocking,…
Despite the steady rise of mobile money, fintechs, and online banking, cash continues to dominate Uganda’s payment landscape. Bank of Uganda (BoU), in its latest currency and payment systems report, reveals that while digital channels are growing steadily, the Ugandan economy remains deeply reliant on physical currency for most day-to-day transactions. However, behind the continued dominance of cash lies a quiet but important shift; digital payments are steadily gaining traction, reflecting changing consumer habits, improved technology, and growing financial inclusion. Cash circulation keeps rising During the 2024/25 financial year, total currency in circulation increased by 9%,, from UGX 8.21 trillion…
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The structural separation of MTN MoMo Uganda, a move that will see the country’s largest mobile money business operate as an independent, Bank of Uganda–licensed fintech company is gathering significant…
Bank of Uganda (BoU) Governor Michael Atingi-Ego has advised Ugandans who believe they have been defrauded through mobile money to first report the matter to their service provider and, if dissatisfied, escalate it to the central bank, particularly where mobile-money operations are involved. The Governor, in a statement today noted that the BoU is not aware of any unresolved complaints routed through the proper channels and invited the public to share concerns with the Directors of Communications & Public Relations and National Payments Systems for follow up. The governor’s notice comes as Airtel Mobile Commerce Uganda Limited (Airtel Money) issued…
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Josephine Olok’s father wanted her to do something like engineering, but her love for tech and computers told her different things. She had an in-depth desire to work with machines and to create and innovate, which called her to technology. “I was drawn to STEM from a young age because I loved math and sciences. I had a fascination with technology and problem-solving,” she says. And while her father’s hopes were dashed, he ultimately empowered her, which speaks about the power of family support in achieving dreams. “I am currently the director and co-founder of LumJo Consultants, a company established…
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MTN shareholders will today vote on a matter that has tested investor confidence and drawn due attention on one of Uganda’s most profitable companies for almost two months now. The vote, which had been planned for July 2, is key in MTN’s plan to structurally separate mobile money from the listed stock portfolio. However, this has not come without some pushback, especially from shareholders, who accuse the telecom of rushing a complicated process that they had very little understanding of. From the outset, MTN remained muted about its plan to structurally separate Fintech from its stock portfolio. In fact, on…
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Behind every billion-shilling leap in revenue, every surge in subscriber numbers, and every bold Fintech innovation at MTN Uganda is more than just strategy—it’s a story of people. A story of a sharp, diverse, and execution-driven leadership team that has turned ambition into action and growth into dominance. This is the powerhouse behind the performance. This is The Yellow Machine. MTN Uganda has long been a dominant force in the country’s telecom sector, but over the past two years, the company has entered a new era of accelerated and multidimensional growth, powered by a dynamic Executive Committee and the transformative…
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When Sylvia Mulinge stepped into the CEO role at MTN Uganda in October 2022, the air crackled with expectation and a fair dose of apprehension. It wasn’t just another leadership change. It was a passing of the torch during one of the most volatile economic periods Uganda had faced in years, fresh out of the Covid pandemic. Inflation was biting, the shilling was shaky, and the telecom giant, fresh off its historic stock market listing, was now under the microscope of thousands of new shareholders. Mulinge, a seasoned executive with a proven record at Safaricom, was no stranger to pressure. …
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In 2024, PostBank grew into a thriving digital bank, posting UGX35.4 billion in net profit and amassing UGX1.4 trillion in assets. This success builds on the momentum of 2023, a year marked by income growth to UGX206 billion and a deposit increase to UGX990 billion. A significant contributor to this growth? The bank’s Fintech arm, particularly the Wendi Mobile Wallet, has emerged as a key driver of PostBank’s transformation and profitability. Wendi’s inclusive digital footprint Since its launch in October 2023, the Wendi Mobile Wallet has onboarded more than 1.5 million users, including more than 10,000 Saccos and 8,000 agents….
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