MTN reports strong performance in East Africa

08 September 2023

MTN Group’s East African operating companies consolidated gains in the last six months.

In Rwanda, MTN’s mobile subscribers increased by 6.0% year-on-year (YoY) to 7.0 million, active data subscribers rose by 5.1% YoY to 2.3 million, while Mobile Money (MoMo) subscribers grew by 14.4% YoY to 4.4 million. Service revenue increased by 14.7% to Rwf 120.5 billion and earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 4.8% to Rwf 55.0 billion.

In Uganda, MTN’s mobile subscribers increased by 11.2% to 18.1 million, active data subscribers grew by 21.4% to 6.9 million, active fintech subscribers climbed by 11.6% to 10.9 million. Service revenue grew by 15.0% to Ush 1,250 billion and EBITDA jumped by 16.8% to Ush 641.0 billion, profit after tax increased by 17.8% to Ush 228.0 billion and interim dividend was up by 19.0%.