MTN Uganda sees a 3.1% growth in Subscriber base as of Q1 2018

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With the start of the year treating us to super data wars and competitive rates for both voice and SMS bundles; it’s clear that there is really good revenue coming in to the telecom companies.

In the first three months of 2018, MTN Uganda recorded a 3.1% rise in subscribers to 10.8million.

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In a quarterly trading update by the MTN Group, it revealed that this quarter-on-quarter growth was an indicator of recovery and growing customer numbers for MTN Uganda. The increment in subscribers for the first quarter of 2018 ends two consecutive quarters of falling customer subscriptions. The improved subscriber figures also contributed to an increase in revenue for MTN Uganda.

“Following a slower prior quarter (4Q17), MTN Uganda experienced a positive first quarter with service revenue growth of 8%. MoMo revenue increased by 21.8% to contribute 25% of total revenue. Voice revenue growth in the period was more muted, with growth of 3.4% despite a 33.6% increase in billable minutes. Tariffs declined by 32.6% Y-o-Y. MTN Uganda reported net additions for the quarter of 149,000”.

According to Rob Shutter, the MTN Group CEO, there was overall strong growth in data and Mobile Money revenue.

“During the quarter, the group continued to focus on operational execution across our markets, leveraging off the strong network investment of the past few years. This allowed us to deliver an acceleration in service revenue growth to 9.1% (constant currency), led by MTN Nigeria and MTN Ghana.”