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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A milestone moment for African connectivity MTN Group has cemented its position as Africa’s leading telecommunications company, officially becoming the first African-headquartered telco to surpass 300 million subscribers. The milestone marks the successful achievement of the Group’s Ambition 2025 strategic target to serve 300 million customers across its markets. The announcement was made by MTN Group President and CEO Ralph Mupita during the company’s annual Ambassadors Appreciation Dinner, held on October 16, 2025, in South Africa. The gathering brought together African diplomats, senior government officials, and CEOs from across MTN’s operations, alongside members of the Group Executive Committee, to celebrate…
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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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By Annette Kiconco In November 2023, Tech Cabal, a leading ICT online news website, published a story with the headline: “USSD remains Africa’s most popular payment channel despite growing alternatives.”…
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…
In the modern economy, the power to transact defines the power to participate. Yet for millions of Ugandans, especially in rural communities, this power has long been out of reach. …
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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In the heart of Kampala’s busy central business district, the rhythm of modern life pulses through the fingertips of Gen Z digital influencers and their smartphones. At concerts, fashion shows, or corporate events, they glide through a stream of apps on sleek, glass-encased smartphones—devices that have become more command centers than mere phones. With a tap, the internet brings real-time social updates to life, AI tools polish photos before they’re posted, and mobile wallets handle everything from splitting bills to paying Uber fares. Now rewind to 1993, just three decades earlier. In the same city, another young Ugandan was perhaps…
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Every month, tens of thousands of Ugandan households receive life-sustaining remittances from family members living abroad. These funds, estimated at over USD 1.4 billion annually according to the Bank of Uganda figures, are crucial for household consumption, school fees, health care, and small-scale investments. Willy Mutenza, a UK-based Ugandan entrepreneur argues that despite their economic weight, the remittance market in Africa is dominated and tightly controlled by an ecosystem of foreign players such as Western Union, WorldRemit, and MoneyGram. While they provide scale, their profits are largely repatriated, limiting domestic reinvestment and innovation. These operators, while efficient in speed and…
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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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