MTN Uganda

What MTN Uganda does

MTN Uganda Limited is Uganda's largest mobile telecommunications operator, founded in 1998 and listed on the Uganda Securities Exchange (USE: MTNU) since 2021, when it became the largest locally listed company at a UGX 4 trillion market value. It operates 2G/3G/4G/4G+/5G mobile coverage across all 134 districts of Uganda, serving 24.4 million total subscribers as of Q1 2026 and holding an estimated 54% share of national telecom subscriptions, with Airtel Uganda at 33% as the only meaningful competitor. The company is a subsidiary of MTN Group Limited and the largest taxpayer in Uganda for ten consecutive years. It employs approximately 1,048 staff directly and indirectly and is headquartered at Plot 69-71 Jinja Road, Kampala.

The core product set spans voice, data, SMS, eSIM, roaming (150+ countries) and home/business broadband (WakaNet Fiber up to 500 Mbps, 5G, 4G, MiFi, Family Bundles), wrapped in the MTN Prestige loyalty sub-brand. The flagship fintech platform is MTN Mobile Money (MoMo), operated under the separately licensed MTN Mobile Money (U) Limited, distributed through ~150,000 agents and exposed via the MoMo Developer API and the Chenosis API marketplace (24,000+ developers, 30+ APIs). MoMo offers merchant payments (MoMoPay, Market by MoMo), credit (MoMo Advance, XtraTime), savings (MoSente, Mokash, XtraCash), insurance (Family Cover, Chat-with-a-Doctor Zuri), cross-border remittances (Tanzania, Dubai, M-Pesa Global Payment, Visa, Alipay, TerraPay, Thunes), micro-investing, the MoMo Agent Loans Marketplace (with dfcu Bank and Letshego Uganda) and the Virtual Card by MoMo (Mastercard). Enterprise offerings include MTN Business Internet/ICT Solutions, MTN Ads (digital advertising, launched Nov 2025), and the Infobip-powered omnichannel customer engagement platform. Adjacent plays include Mpola Mpola Kabode 4G device financing, e-Xpress electric bus cashless fares, KCCA digital market and transport park transformation, and a hospitality MoU with UHOA covering 780+ hotels.

MTN Uganda's revenue model is hybrid: recurring subscriptions (voice, data, broadband, Prestige), usage-based MoMo transaction fees, advertising (MTN Ads), managed services for enterprise ICT, hardware/device sales, and one-time fees (SIM cards, swaps). FY2025 total revenue was ~$972M (+13.6% YoY) with profit after tax of ~$183M (+17% YoY). Distribution is hybrid — physical retail (167 service centers, 200 stores, 14 distributors, 150,000 agents) plus digital self-service (myMTN App, USSD, website) and direct enterprise field sales. The company has signalled a strategic shift from telco to "techco" under MTN's Ambition 2025 framework, anchored by fintech scaling, B2B platform plays, and a planned spin-off and separate USE listing of MTN Mobile Money (U) Limited within three to five years.

Name

MTN Uganda

Legal name

MTN Uganda Limited

Website

https://mtn.co.ug

Company type

Public

Founded year

1998

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

MTN Uganda Limited is Uganda's largest mobile telecommunications operator (54% market share, 24.4M subscribers, USE: MTNU) running a 2G–5G network across all 134 districts, anchored by MTN Mobile Money (MoMo) fintech and MTN WakaNet broadband, serving consumers, SMEs and enterprises.

Ownership category

akta.pro rank

Product category

Mobile Telecommunications

NAICS

Wireless Telecommunications Carriers (except Satellite) (517112), Wired and Wireless Telecommunications (except Satellite) (5171)

SIC

Radiotelephone Communications (4812)

akta.pro primary industry

Consumer Mobile Network Operators (Retail MNOs) (HDAIAAAA)

akta.pro secondary industries

Mobile Wholesale & Roaming Providers (Interconnect, IOT, Roaming Hubs) (HDAIAAAD), IoT Connectivity Management (Private APN, SIM/eSIM, Device Connectivity) (HDAIAGAG)

Keywords

• Mobile telecommunications services
• Mobile money payments
• Home broadband internet
• Enterprise ICT solutions
• Digital financial services

Headquarters

HQ city

Kampala

HQ country

Uganda

HQ region

Africa

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Infrastructure, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Telecom Services (Voice, Data, SMS): Core subscription/usage-based telecom service revenue (data grew 13.6% in FY2025); driven by 4G/5G coverage expansion and a 7.2% increase in total subscribers to 24.4 million in Q1 2026. MTN reported total revenue of ~$972 million in FY2025 and UGX 2.7 trillion service revenue on the investor page.
2. Mobile Money / Fintech (MoMo): Transaction-fee based revenue from MTN MoMo payments, transfers, merchant transactions, cross-border remittances, MoMoPay, virtual card, savings & loans, and micro-investing services — fintech is a key growth driver alongside data.
3. Digital Advertising (MTN Ads): Advertising revenue from the MTN Ads platform, enabling businesses to target over 22 million MTN customers across Uganda with precision targeting and real-time tracking.
4. Home & Business Broadband (WakaNet Fiber/5G/4G/MiFi): Recurring subscription revenue from WakaNet Fiber (UGX 110,000–595,000 monthly), 5G, 4G and MiFi home and business internet packages with auto-renewal.
5. Enterprise ICT Solutions (B2B): Professional services and managed services revenue from ICT solutions, internet connectivity, hosted contact center, SIP trunking, and SME internet packages for enterprise clients — part of MTN's shift from telco to techco.
6. Hardware / Device Sales: Revenue from sale of SIM cards (UGX 2,000 new), SIM swaps (UGX 1,500), 4G SIM upgrades, routers, MiFi devices, smartphones (via Mpola Mpola financing), and accessories such as security cameras (UGX 250,000) and indoor cameras (UGX 175,000).
7. MoMo Virtual Card / Digital Wallet: Revenue from wallet-linked virtual prepaid cards launched in partnership with Mastercard, enabling online and cross-border payments where card rails are required.

Pricing tiers

Go-to-market motion5 records

Distribution channels6 records

Core offering

MTN Uganda is a mobile telecommunications operator providing voice, data, SMS, mobile money (MoMo) and home/business broadband services over its nationwide 2G/3G/4G/4G+/5G network. It sells prepaid and postpaid airtime, data and voice bundles, international roaming, eSIM, and value-added fintech services (MoMo payments, savings, loans, micro-investing, virtual cards, cross-border remittances). It also offers enterprise-grade internet, hosted contact center, SIP trunking, ICT solutions, and a self-service digital advertising platform (MTN Ads).

Product overview

MTN Uganda operates an integrated platform-plus-modules architecture built on its national 2G/3G/4G/4G+/5G mobile network. The core consumer platform is the MyMTN App and SIM-based voice, data, SMS, eSIM, roaming and Keep-My-Number services, wrapped by the MTN Prestige loyalty sub-brand. The flagship fintech offering is MTN Mobile Money (MoMo), operated under the separately licensed MTN Mobile Money (U) Limited and exposed to developers via the MoMo Developer API and the Chenosis API marketplace; MoMo carries a portfolio of merchant (MoMoPay / Market by MoMo), credit (MoMo Advance / XtraTime / School Fees Loan), savings (MoSente / Mokash / XtraCash), insurance (Family Cover, Chat-with-a-Doctor Zuri), cross-border (M-Pesa Global Payment, Dubai Duty Free), micro-investing and agent-loan (MoMo Agent Loans Marketplace with Letshego Uganda and dfcu Bank) modules, plus the Virtual Card by MoMo and Mpola Mpola Kabode device financing. The broadband arm is MTN WakaNet, comprising Fiber, 5G, 4G Router and 4G MiFi lines, each available as an add-on alongside the WakaNet Family Bundle and Hosted Contact Center enterprise solutions. Enterprise offerings include MTN Business Internet/ICT Solutions, MTN Ads (digital advertising), and the joint Infobip-powered omnichannel customer engagement platform. Adjacent lifestyle products include Ayoba, Arena Games/MTN GoGames, YOTV, MTN Senkyu, MTN Kibanda Xpress and the cashless-payment initiatives (smart wristbands for student transport, e-Xpress electric buses, UHOA hospitality partnership, KCCA transport parks), plus the sport-led MTN Pro-Tee Series.

Differentiator

Problem solved

Functional benefit

Brands

• MTN MoMo: Mobile money platform operated by MTN Mobile Money (U) Limited, offering money transfers, payments, merchant services, virtual cards, and developer APIs.
• MTN WakaNet
• MTN Prestige
• MTN Ads
• MTN Pro-Tee Series

Products and services

• MTN Mobile Network (2G/3G/4G/4G+/5G) MTN Uganda's underlying mobile telecommunications network covering all 134 districts of Uganda with 2G, 3G, 4G, 4G+ and 5G connectivity, on which all consumer and enterprise services run.
• MTN Mobile Money (MoMo) MTN Uganda's flagship fintech platform enabling money transfers, bill payments, airtime top-up, savings, loans, merchant payments and agent banking via mobile phone. Operated by MTN Mobile Money (U) Limited, licensed by the Bank of Uganda, with approximately 150,000 agents nationally.
• MTN WakaNet Fiber
• MTN WakaNet 5G
• MTN WakaNet 4G / MiFi / Router
• MTN Prestige
• MTN Ads Self-service digital advertising platform enabling businesses to target over 22 million MTN Uganda customers with real-time tracking, precision targeting and customizable campaigns.
• MTN Business Internet (ICT Solutions)
• MTN Uganda x Infobip Omnichannel Customer Engagement Platform Joint omnichannel enterprise communications platform combining SMS, WhatsApp, voice, email and chat with AI-powered automation (Infobip AgentOS), targeted at banking, fintech, healthcare and logistics customers.
• MTN Roaming
• Tourist SIM
• Data Bundles (Daily / Weekly / Monthly / Freedom / Super Bundles)
• Voice Bundles (Daily / Weekly / Monthly / MyPakaPaka)
• SMS Bundles
• International Voice Bundles
• Keep My Number
• Virtual Card by MoMo
• MoMoPay (Merchant Payments)
• MoMo Advance (Mobile Money Credit)
• MoMo Cross-Border Payments MTN MoMo service extension enabling remittances and payments between Uganda and Tanzania, plus Dubai, in partnership with M-Pesa Global Payment, Dubai Duty Free and other remittance partners.
• MoMo Micro-Investing
• MTN Pay Mpola Mpola Kabode (Device Financing) Device financing scheme enabling customers to purchase 4G smartphones through installment payments, with awareness campaigns, customer qualification, onboarding and digital-skills training components.
• MoMo Agent Loans Marketplace Digital loan marketplace in partnership with Letshego Uganda and dfcu Bank offering the dfcu Bank Weekend Agent Loan and the Agent Loan Float with Letshego to provide instant working capital to MTN MoMo agents.
• Market by MoMo MTN Uganda's e-commerce marketplace accessible via MoMo, offering electronics, accessories and other goods at discounted prices, with secure MoMo checkout and last-mile delivery across Uganda.
• Cashless School Days (Smart Wristbands) Smart wristband-based tap-and-go cashless payment solution for student transport, piloted at Kololo Secondary School and powered by MTN Business.
• MoMo Developer API
• Chenosis API Platform
• MyMTN App

Quantifiable outcome

• FY2025 revenue grew 13.6% to ~$972 million; profit after tax reached $183 million (+17%)
• +9 more outcomes

Named customers8 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

AI capability7 records

Feature8 records

Partnerships

18 partnerships are on record, tiered minor, core and flagship.

• Kololo Secondary SchoolminorOthers · 24 June 2026Pilot launch site for MTN Uganda's Cashless School Days initiative, introducing smart wristband technology for student transport that enables cashless tap-and-go payments via MTN Business. Aims to make students' daily commutes safer and more convenient.
• Federation of Uganda Football Associations (FUFA)coreGTM or Marketing Partner · 19 June 2026MTN Uganda and FUFA launched the nationwide fan contest 'Free Your Fayaaa – Tulage Waaka', inviting Ugandans to submit designs for the next official Uganda Cranes national team jersey. The initiative engages local creators and football fans in shaping the visual identity of the national team.
• Kampala Capital City Authority (KCCA)flagshipStrategic or Co-development Partner · 17 June 2026MTN MoMo partnered with KCCA to transform Busega Market and five major transport parks across Kampala — the city-wide partnership aims to create cleaner, safer and digitally-enabled urban marketplaces and transport hubs.
• Professional Golfers (Uganda PGA community)coreGTM or Marketing Partner · 12 June 2026MTN Uganda launched the MTN Pro-Tee Series — a professional golf circuit integrating MTN Mobile Money into prize distribution, allowing professional golfers to receive winnings directly through mobile payments. Uganda currently has 62 professional golfers, with the inaugural edition featuring a prize purse of UGX 15 million.
• Starlink (SpaceX) — in discussionsflagshipStrategic or Co-development Partner · 4 May 2026MTN Uganda announced it is in talks with Starlink for a potential partnership to expand satellite connectivity across Uganda. Starlink received approval to operate in Uganda on May 14 after regulatory scrutiny resulting in licence conditions requiring a physical point of presence, device registration, and a staffed local office.
• e-Xpress electric bus initiative stakeholderscoreStrategic or Co-development Partner · 4 May 2026MTN Uganda partnered with stakeholders to launch e-Xpress electric buses during National Science Week. As official payment partner, MTN Uganda enables cashless fare payments via MTN MoMo service and deploys onboard WiFi connectivity across the buses, positioning the initiative as a step toward modernising public transport through digital innovation and sustainability.
• InfobipflagshipStrategic or Co-development Partner · 26 March 2026MTN Uganda and Infobip have partnered to enhance customer engagement for Ugandan enterprises using omnichannel communication solutions. The collaboration combines SMS, WhatsApp, voice, email and chat applications with AI-powered automation via Infobip's AgentOS platform, targeting banking, fintech, healthcare and logistics sectors. Reflects MTN Uganda's strategic shift from a traditional telecom operator to a technology platform serving enterprise clients.
• Uganda Revenue Authority (URA)coreGTM or Marketing Partner · 23 December 2025MTN MoMo and URA partnered to enhance digital tax services for Ugandans on *165# — the taxpayer's customer journey was enhanced enabling convenient tax payments via MTN Mobile Money.
• Kayoola (Kiira Motors)coreGTM or Marketing Partner · 11 December 2025MTN Uganda provided digital and connectivity services enabling the Made-in-Uganda Kayoola E-Coach to complete a 7,125 km expedition across six countries arriving in Cape Town. The journey resulted in a contract for export of 450 E-Coaches and 75 charging stations to South Africa.
• Letshego UgandacoreStrategic or Co-development Partner · 1 December 2025MTN Mobile Money Uganda partnered with Letshego Uganda to launch the 'Agent Loan Float with Letshego' product — one of two loan products in the MoMo Agent Loans Marketplace providing mobile money agents with instant access to working capital, enabling them to maintain adequate float and meet high-demand periods. Part of broader financial inclusion and digital economy support strategy.
• dfcu BankcoreStrategic or Co-development Partner · 1 December 2025MTN Mobile Money Uganda partnered with dfcu Bank to launch the 'dfcu Bank Weekend Agent Loan' product — part of the expanded MoMo Agent Loans Marketplace. Provides mobile money agents with instant working capital to maintain adequate float, meet high-demand periods and deliver uninterrupted service to customers nationwide.
• Vodacom Tanzania (M-Pesa)coreTechnology or Integration · 29 November 2025Vodacom Tanzania's M-Pesa Global Payment platform launched cross-border transactions in partnership with VISA, Alipay, Network International, Magnati, TerraPay, Thunes and MTN Uganda — enabling Tanzanian customers to transact internationally using MTN MoMo wallets and other integrated payment methods.
• Dubai Duty FreecoreStrategic or Co-development Partner · 7 November 2025MTN Uganda partnered with Dubai Duty Free to improve international remittances — part of expanded fintech services that also include cross-border payments between Uganda and Tanzania, contributing to significant growth in fintech transactions, customer base and revenue.
• ZTEflagshipStrategic or Co-development Partner · 27 October 2025ZTE and MTN Uganda celebrated the 10th anniversary of their Managed Services partnership in Kampala, marking a decade of collaboration that has significantly advanced Uganda's telecom infrastructure. A key milestone was the launch of Uganda's first Service Operations Center, boosting network management and operational efficiency.
• Sense InternationalcoreImplementation/ SI/ Consulting Partner · 24 October 2025MTN Uganda partnered with Sense International and local leaders to open a fully inclusive ICT laboratory at St. Mary Goretti Ngetta Girls Primary School in Lira City — supports digital inclusion for 970 pupils including 76 with disabilities, as part of the UGX 1 billion Digital Access Project.
• Uganda Hotel Owners' Association (UHOA)flagshipStrategic or Co-development Partner · 4 August 2025MTN Uganda, MTN Mobile Money (U) Limited, and UHOA signed an MoU for a strategic partnership to accelerate digital transformation in Uganda's hospitality sector. The partnership deploys mobile money solutions for digital transactions, enterprise connectivity, guest Wi-Fi, and ICT business solutions across UHOA's network of over 780 hotels. Aligns with MTN's Ambition 2025 strategy to shift from telco to techco.
• Huawei, Microsoft, Nokia, Cisco, Ericsson, OraclecoreTechnology or IntegrationTechnology partners displayed on the MTN Uganda Business page — strategic infrastructure and software partners across network equipment (Huawei, Nokia, Ericsson, Cisco) and enterprise software (Microsoft, Oracle).
• MTN Prestige Partners (Turkish Airlines, Tecno, TWG, UBL and other lifestyle brands)coreGTM or Marketing PartnerMTN Prestige tier partners include Turkish Airlines (Fly Prestige draw), Tecno, TWG, UBL and other lifestyle brands — extending non-telecom lifestyle benefits and discounts to Prestige customers.

Scale indicators14 records

Recent moves7 records

Expansion highlights8 records

Regional players

• Liquid Intelligent Technologies: Liquid operates fiber and enterprise connectivity across East Africa, overlapping with MTN's WakaNet Fiber and MTN Business Internet offerings. Both compete for Uganda's enterprise ICT and wholesale bandwidth customers.

Others

• Helios Towers: Helios Towers is another pan-African tower company supporting MNO network expansion. Comparable to IHS as infrastructure enablers underpinning MTN Uganda's $86M+ capex on 4G/5G coverage and rollout economics.
• IHS Towers: IHS Towers is a major African tower infrastructure provider supporting MTN's network rollout through tower leases. IHS is comparable as a critical enabler of MTN's network capex efficiency and a peer for investors analyzing African telecom infrastructure exposure.

Direct peers

• Safaricom (Kenya): Safaricom is East Africa's most analogous MNO-fintech hybrid, operating a dominant Kenyan network alongside M-Pesa. MTN Uganda's MoMo strategy, cross-border ambitions, and merchant/agent ecosystem closely mirror Safaricom's M-Pesa model.
• Airtel Uganda (Bharti Airtel): Airtel Uganda is MTN's primary direct competitor in Uganda, holding ~33% subscription share and operating a parallel Airtel Money mobile money franchise. Both operators compete head-to-head in voice, data, and mobile money across all 134 districts.
• Vodacom Tanzania: Vodacom Tanzania operates M-Pesa in Tanzania and is one of MTN MoMo's primary cross-border partners via the M-Pesa Global Payment platform. Both are large East African MNOs with mature mobile money franchises and aggressive fintech roadmaps.

Broad incumbents

• MTN Group: MTN Group is MTN Uganda's parent company, operating in 19 African markets. While the parent provides strategic direction and shared platforms (Chenosis, MTN Ads), it is the broader incumbent that frames MTN Uganda's positioning and capital allocation.
• Orange Middle East and Africa (Sonatel/Orange): Orange Money operates in several African markets and competes with MTN's MoMo on cross-border remittances and merchant payments. Orange's enterprise ICT and Orange Money strategies mirror MTN's telco-to-techco pivot.
• Airtel Africa: Airtel Africa is the parent of Airtel Uganda and operates 14 African markets with a unified mobile money strategy. Comparable to MTN Group as a pan-African telecom + fintech platform competing directly with MTN Uganda in the Uganda market.

Emerging players

• Africell: Africell is a smaller African MNO focused on select markets (DRC, Uganda, Sierra Leone, Gambia) with a value-priced data and mobile money proposition. It is an emerging challenger in Uganda that could pressure MTN's mid-tier subscriber base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/mtnug
• YouTubeyoutube.com/user/MTNUG
• Facebookfacebook.com/MTNUG
• LinkedInlinkedin.com/company/mtnug
• Instagraminstagram.com/mtnug
• TikToktiktok.com/@mtnug

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MTN Uganda