MTN Uganda has reported a strong financial performance for the nine months ending 30 September 2026, with profit after tax climbing to sh571.2b. This represents a 21.2% increase compared to the sh471.2b recorded during the same period last year, underscoring the telecom giant's resilience and growth momentum in a competitive market.

Revenue Growth Across Key Segments

The company's total revenue rose by 8.5% to reach sh2.879 trillion, driven by solid performance across its core business lines. Service revenue, which excludes revenue from device and SIM card sales, also grew by 8.5% to sh2.843 trillion, mirroring the overall revenue trajectory and highlighting the strength of MTN's subscription-based services.

The growth in service revenue suggests that MTN Uganda is successfully deepening its engagement with existing customers while attracting new ones, particularly in mobile money, data, and voice services. The consistent performance across both total and service revenue indicates a balanced business model that is not overly reliant on one-off hardware sales.

What This Means for the Market

MTN Uganda's double-digit profit growth comes amid a challenging economic environment characterized by inflationary pressures and shifting regulatory landscapes across the region. The company's ability to expand its bottom line by more than a fifth year-on-year signals effective cost management and a strong competitive position.

Industry analysts will be watching closely to see whether this momentum can be sustained through the final quarter of the year, particularly as the festive season typically brings a surge in voice and data usage. The results also set a high bar for competitors in Uganda's telecommunications sector.

Looking Ahead

With nine-month profits already surpassing previous-year figures by a significant margin, MTN Uganda appears well-positioned to deliver a robust full-year performance. The company's continued investment in network infrastructure and digital services is likely to remain a key driver of future growth.

Shareholders and market watchers will now look to the full-year results for further confirmation of the company's upward trajectory. For now, the nine-month figures offer a clear signal that MTN Uganda is not just holding its ground but actively expanding its financial footprint.

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