MTN Uganda passed through difficult 2015 financial year which registered 4.9% growth in revenue and Ush 177 billion profit after tax.
Brian Gouldie, MTN Uganda CEO said, “3.7 million subscribers had been disconnected as the operator complied with regulatory orders but quick deployment of digital registration had reduced the net impact to just 1.47 million for the year.
Depreciation of the Shilling against the dollar by almost 25% year on year, resulted in higher US dollar expenses and with a resultant impact on net earnings.
“An improved distribution and registration capability has resulted in resilient reconnection performance in 2016, resulting in increased subscriber base to 9.9 million.” He said.
Mobile money as the key revenue contributor made 17.2% of gross earnings for the year from the base of 6.5 registered mobile money subscribers.
Gouldie further elaborated that, MTN subscriber’s base has access to mobile data service after an increased 3G devices and LTE network.
The rising popularity of data, especially social media means that there is an average 40% subscriber penetration, an indication that at least 3.3 million MTN subscribers can access the internet on their mobile devices.