MTN Uganda Revenue Grows By 17.8%

2542 Views Kampala, Uganda

In short
Mobile telephone company MTN has announced that its revenues grew by 17.8 percent in 2013 due to a rise in money made from internet users and mobile money service. The announcement by Uganda’s largest telecom company by subscriber base means that its revenues are still in the 1 trillion Uganda Shillings range.

Mobile telephone company MTN has announced that its revenues grew by 17.8 percent in 2013 due to a rise in money made from internet users and mobile money service.
 
The announcement by Uganda’s largest telecom company by subscriber base means that its revenues are still in the 1 trillion Uganda Shillings range.
 
In the MTN Group 2013 consolidated financial statement released on Wednesday, Uganda’s revenue growth was “supported by a 51.7percent increase in data revenue and a 10.9percent increase in voice revenue.” Data services have continued to grow since 2009. In 2012, MTN recorded the highest percentage growth of data at 86 percent. The growth of the data is due to the availability of potable mobile handsets, which have increased the demand for internet.
 
This is further emphasized by the total investment in 2013. MTN says it invested 51.4 million United States Dollars which went to upgrade 2G and 3G internet data sites and also to improve the quality of the network.
 
The growth in data however, led to a decline in SMS revenue for the third year in a row, which the company attributed to “customers opting for newer data driven social media platforms for communication.”
 
MTN also indicated that Mobile Money subscribers increased by 47 percent to 5.2million users, keeping it in top position. Mobile money continues to become popular among Ugandans, with its usage growing faster than that of formal banking institutions.
 
In 2013, Airtel Uganda acquired Warid Telecom for 100 million United States Dollars. The transaction was widely expected to give MTN Uganda a closer competitor. However, MTN Uganda has still realized a 14.4percent growth in customers to 8.8 million users in 2013.
 
The company did not reveal its profitability in Uganda.

 

Mentioned: mtn uganda airtel warid