MTN Uganda Reports 18% Growth in Profit
MTN Uganda reported an 18.1% growth in its half-year tax profit, as sales and mobile money surged high boosting the telecommunication giant. With South Africa repotting $90.29 million for its first six months of the year. According to CEO Sylvia Mulinge, MTN Uganda’s profit growth was due to "encouraging performance in voice and a resilient
MTN Uganda Reports 18% Growth in Profit
MTN Uganda reported an 18.1% growth in its half-year tax profit, as sales and mobile money surged high boosting the telecommunication giant. With South Africa repotting $90.29 million for its first six months of the year.
According to CEO Sylvia Mulinge, MTN Uganda’s profit growth was due to “encouraging performance in voice and a resilient double-digit performance in our data and mobile money revenues.”
MTN Uganda is one of the largest telecoms and competes with a unit of India’s Bharti Airtel. The telecom firm reported an 11.2% increase in mobile subscribers to 18.1 million customers in the half year.
The company announced it had launched a 5G service and will be expanding the reach of its high-speed network.
