Revenue distribution by sectors:

• Telecommunications: 70%
• Mobile financial services: 20%
• Other services: 10%

TOP 3 markets and their percentage shares:

• Uganda: 85%
• Kenya: 10%
• Rwanda: 5%

MTN Uganda Limited generates the majority of its revenue from the telecommunications sector, particularly through mobile services. However, a growing portion of revenue comes from mobile financial services, which have gained importance in recent years.

The primary market for MTN Uganda is its home country, Uganda, which accounts for the largest share of revenue. Kenya and Rwanda are also important markets, but they have significantly smaller shares of the total revenue. These markets, however, offer potential for future growth, especially through the expansion of mobile financial services.

Production Sites: No specific production facilities, as it is a telecommunications company.

MTN Uganda Limited is a leading telecommunications company that mainly offers services in mobile telephony, data, and mobile finance. As a service company, MTN Uganda does not produce physical products in the traditional sense. Instead, the company focuses on expanding and maintaining its telecommunications infrastructure, such as mobile masts and network facilities distributed throughout Uganda.

The main activities of MTN Uganda include providing mobile telephony services, internet services, and mobile financial solutions. These services are supported by a network of technical and operational facilities across the country to ensure nationwide coverage and reliable services for customers.

Revenue Growth: Estimated 10% annually (2026) Market Expansion: Focus on rural areas and digital services

MTN Uganda Limited is pursuing a growth strategy that heavily emphasizes expanding its network coverage in rural areas. This is intended to be achieved through infrastructure development and the adoption of new technologies to enhance connectivity in less developed regions.

Additionally, the company places great importance on the development and marketing of digital services. These include mobile financial services, which are gaining increasing significance in Uganda. This strategy aims to expand the customer base and tap into new revenue streams.

MTN Uganda is also investing in partnerships and collaborations to offer innovative solutions and strengthen customer loyalty. These measures are intended to enable the company to maintain its market leadership and achieve sustainable growth.

Main Imported Raw Materials/Items: Telecommunications equipment, network technology

Countries of Origin: China, India, USA

MTN Uganda Limited mainly imports telecommunications equipment and network technology needed for the expansion and maintenance of their infrastructure. China is one of the largest suppliers of this type of equipment, followed by India and the USA, which are also significant players in the telecommunications technology sector.

These imports are crucial for the continuous improvement and expansion of MTN Uganda's network coverage and quality to meet the increasing market demands.

Market Share: 55% (2025, estimated)
Revenue Growth: 8% (2025)
EBITDA Margin: 50% (2025)

MTN Uganda Limited has a significant competitive advantage in the telecommunications market of Uganda, primarily due to its high estimated market share of 55%. This enables the company to leverage economies of scale and to have a strong negotiating position with suppliers and partners.

The 8% revenue growth in 2025 indicates that MTN Uganda is still able to increase its revenue despite a saturated market. This could be attributed to successful customer retention and the introduction of new services.

The 50% EBITDA margin underscores the company's efficiency in cost control and its ability to generate high profits from its revenues. This metric is an indicator of strong operational performance and the ability to remain profitable in a competitive market environment.

Institutional Investor Share: 60% (estimated for 2026)

Insider Buys/Sells: No significant transactions reported (2026)

The institutional investor share in MTN Uganda Limited is estimated to be around 60%. This demonstrates a high level of confidence from large investors in the company.

No significant insider transactions were reported in 2026. This could indicate that the management and other insiders are satisfied with the current company strategy and see no need to sell or increase their holdings.

Market share of MTN Uganda Limited: 55% (2026, estimated)

Main competitors and their market shares:

1. Airtel Uganda: 35%
2. Africell Uganda: 5%
3. Uganda Telecom: 3%
4. Lycamobile Uganda: 2%

Moat of MTN Uganda:

MTN Uganda Limited has a significant moat, which is manifested through several factors. Firstly, the company has an extensive infrastructure that enables it to offer a wide network and high service quality. This leads to strong customer loyalty and a high market share.

Secondly, MTN Uganda benefits from its brand recognition and a wide range of services beyond mobile telephony, such as mobile financial services. This diversification strengthens its market position and creates additional revenue streams.

Compared to its competitors, MTN Uganda has a clear advantage in terms of network coverage and innovation, further enhancing its moat. Airtel Uganda is the next serious competitor, also having a strong infrastructure, but not the same market penetration and brand strength as MTN Uganda.

Overall, MTN Uganda remains the dominant player in the market, with a clear advantage over its competitors, who may be successful in certain niches but do not reach the same breadth and depth of offerings.

Revenue Growth: 10.5% (2025) Net Income Growth: 8.2% (2025) Market Share in Uganda: approximately 55% (2025)

MTN Uganda Limited has recorded a solid revenue growth of 10.5% in 2025 in recent years. This indicates a strong market position and an effective business strategy. The company benefits from its dominant position in the Ugandan telecommunications market with a market share of about 55%.

The net income growth of 8.2% in 2025 shows that MTN Uganda is able to increase its profitability despite possible market volatilities. This could be attributed to efficient cost controls and successful implementation of growth strategies.

Overall, MTN Uganda's financial performance suggests that the stock could be an attractive investment opportunity, especially for investors interested in a stable company with growth potential in the African telecommunications sector.

Dividend yield: 8.5% (2025) Dividend history: Continuous payout since IPO

MTN Uganda Limited has pursued a consistent dividend policy in recent years. The dividend yield of 8.5% in 2025 indicates an attractive payout for investors. Since its IPO, the company has regularly paid dividends, signaling a reliable payout policy.

The financial stability and market position of MTN Uganda support this dividend policy. Analysts expect the company to continue distributing dividends at a similar level in the coming years, provided there are no significant negative market changes.