Thread by @Jude_Mugabi

.@mtnug has for the first time, since listing on @USEUganda, announced its annual financial performance for the year ended 31st December, 2021. The audited #MTNResults show a solid 9.4% growth in Service Revenue compared to the previous year despite the headwinds in 2021.

The shoot up was mainly driven by growth in subscriber numbers with the company registering 1.5 million new customers in 2021 representing a 10.7% Year-on-Year (YoY) growth & taking its total subscriber base to 15.7 million thus maintaining market share leadership.
#MTNResults

Among the 15.7 million subscribers, 5.3 million are active data users. The contribution of data to #MTNResults service revenue was 20.2% on the back of a 16% increment in active data subscribers and a 47.8% surge in total MBs used compared with 2020.

The contribution of voice dropped below 50% (to 49.3%) which was unprecedented. However, voice revenue swelled by 3.6% boosted by a 9.7% surge in total minutes of user by customers.
#MTNResults

Fintech revenue (mobile money & other basic fintech services - bill plus merchant payments) recorded double digit growth of 10.2% accounting for 25.7% of the service revenue.
#MTNResults

The #MTNResults for 2021 put the number of active fintech subscribers at 9.9 million - a 16.3% hike which the company pins on effective subscriber acquisition & engaging customer value management programs like @mtnug senkyu loyalty reward program which was rolled out last year.

.@mtnug fintech services also saw a 47.8% increase in agents to 173,400 & a 61% bump in merchants to 52,926. The company attributes this to attractive agent incentives & trade assistance initiatives.
#MTNResults

Apart from voice, data & fintech services; digital services like bulk sms & the USSD protocol also made a portion of the service revenue. Remarkably, the service revenue crossed the UGX 2 Trillion mark for the first time reaching UGX 2.04 Trillion.

#MTNResults

.@mtnug posted UGX 340.4 billion in profit after tax (5.8% jump from the 2020)- a sum that includes two non recurring transactions;
🔘UGX 51 Billion Payment of a transitional licence to UCC
🔘UGX 11.3Billion Payment for the termination of a services agreement

#MTNResults

The company undertook significant capital investments worth UGX 270.2 Billion in projects aimed at improving its network coverage & quality across the country in the last financial year.
#MTNResults

It is also expected to spend $300 million over the course of the next 3 years with an eye on graduating more people to 4G networks to reduce costs for the customer & ultimately 5G adaptation.
#MTNResults

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