MTN Uganda Mobile Money Base Passes 50% of all its Customers
Published on: 6th May 2014
Note -- this news article is more than a year old.
MTN 's mobile network in Uganda has announced that its subscriber bare reached 9.5 million at the end of the first quarter, with more than half using its mobile money service.
According to the results, MTN Uganda continued to show good growth and increased market share despite the high competition in Ugandan market. Increased penetration into rural areas and improved network quality further supported this growth.
Local currency data revenue also increased by 67.7 % and now contributes to 23.5% of MTN's revenue.
Commenting on the results, MTN Uganda CEO Mazen Mroué expressed satisfaction with the results saying that MTN Uganda's focus is "to enhance our infrastructure investment and Customer Experience".
Regarding the continued growth of MTN Mobile Money, Mroué said, "MTN Mobile Money remains the fastest growing product in Uganda with more than 5 million registered users each transacting on average five times a month. The popularity and growth of MTN Mobile Money supported by a large agent network exceeded 30,000 agents and significantly increased financial inclusion of the unbanked."
In 2013, MTN Uganda focused largely on the expansion of the data network infrastructure. As of 31st March 2014, MTN Uganda total Data subscribers exceeded 2.6 million.
"At MTN we recognize our staff as a key asset in enabling this success. As we move into 2014, our focus will be primarily on providing distinctive Customer Experience as well as ensuring consistent investment in key infrastructure to support the anticipated continued growth and increased demand for new digital services" Mroué concluded.