MTN MoMo posts Shs 250.2 bn in net profit

MTN MoMo MD, Richard YegoKampala, Uganda | THE INDEPENDENT | MTN Uganda’s fintech arm, MTN Mobile Money Uganda Ltd has recorded a 23% increase in net profit to Shs 250.2 bn for the year ended 31 December 2024, underscoring the growing centrality of digital payments to Uganda’s economy.Revenue climbed 25.

2% to Shs 981.9 bn as the value and volume of transactions accelerated. MTN MoMo processed 4.



3 bn transactions worth Shs 158.6 tn, reflecting a steep rise in both adoption and customer activity.“This performance was underpinned by a stable macroeconomic backdrop and our continued investment in innovative, secure and inclusive financial services,” said MTN MoMo MD, Richard Yego.

He added that reforms to the Bank of Uganda’s regulatory sandbox had been instrumental in extending services to underserved communities.The platform’s active user count grew 13.9% to 13.

8 m, while its network expanded to 212,500 registered agents and 85,900 merchants, broadening access to mobile finance.Last year, MTN MoMo rolled out MoMo Ticketing—enabling digital purchase of event tickets—and Market by MoMo, which facilitates online commerce for small businesses. Strategic alliances with Mastercard and Jumo further diversified offerings, introducing micro loans and savings products tailored to the informal sector.

The firm also returned Shs 43.4 bn in interest to wallet holders and contributed Shs 452.4 bn in taxes to the Ugandan government, cementing its role as a major contributor to the formal financial system.

Looking ahead to 2025, MTN MoMo plans additional investments in cybersecurity, digital literacy and merchant onboarding as it seeks to deepen financial inclusion and drive growth in the country’s digital economy.Share on: WhatsAppThe post MTN MoMo posts Shs 250.2 bn in net profit appeared first on The Independent Uganda:.

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