MTN Uganda Pays out its First Dividend Since its Listing on USE

  • MTN Uganda paid a final dividend for the year ending December 31, 2021, of UGX 105.4 billion to 21,452 shareholders at UGX 4.706 per share.
  • NSSF is MTN Uganda’s second-largest shareholder, with 8.84% shareholding, earned a total of UGX 9,317,880,000/= in dividends for the year 2021.

Following approval of declaration of dividends by its shareholders at the Annual General Meeting held on the 27th day of May 2022, MTN Uganda has paid out a total dividend of Ugx105.4 billion to its 21,452 shareholders for the year ended 31st December 2021.

Each shareholder, registered on the books of the company by 01 June 2022, has received a dividend of UGX4.706 per share in accordance with the Uganda Securities Exchange Rules.

All dividend payments have been subjected to withholding tax in accordance with the Income Tax Act. All Ugandan individuals are subject to a 10% withholding tax while East African individuals and Companies including Ugandan companies, are subject to a 15% withholding tax.

The National Social Security Fund (NSSF), which is the second-largest institutional shareholder with a stake of 8.84%, earned a dividend of UGX 9.3 billion for the year 2021.

Handing over a dummy cheque for the final dividend earnings for the period 6th to 31st December 2021 to Richard Byarugaba the Managing Director of the NSSF, Andrew Bugembe, the MTN Uganda Chief Finance Officer highlighted the company commitment to its shareholders.

“MTN Uganda is committed to returning great value to all its shareholders, and therefore today, we are delighted to be living out to this commitment to our shareholders having taken a step to invest in MTN UgandaMr. Bugembe said.

Bugembe further noted that MTN Uganda’s policy is to pay dividends three times a year in June, September, and December at a minimum of 60% of profit after tax hinged on the company operational performance. The target for the year 2022 is to payout 75-80% of the profit made as dividends.

Richard Patrick Byarugaba the Managing Director of the National Social Security Fund applauded the Telecom company for it’s great performance.

“The dividend declared and paid by MTN Uganda is impressive and grows investor confidence in the company. We have also seen the company deliver impressive subscriber growth since the IPO (mobile subscribers – 10.7% to 15.7M), as well as double-digit growth in key segments (data and mobile money) which bodes well for the future performance of the company.”

In line with MTN’s Financial inclusion strategic mission, 87% of MTN shareholders have been paid through the MTN mobile money platform.

MTN Uganda was listed on the Uganda Securities on 6th December 2021.

MTN Foundation Equips Kasese Youth Polytechnic VTI with A Digital Resource Center

  • This is in a bid to equip students in vocational training Institutes with the necessary skills for the 21st Century job market.
  • This project that is currently in its second phase is under MTN Uganda’s ICT for Development project and is in line with the MTN Ambition 2025 Strategy.
  • Previous beneficiaries of this project include; St. Daniel Comboni VTI in Moroto, Amello VTI in Adjumani and St. Simon Peter VTI in Hoima District. This second phase is also targeting 3 VTIs.

The students of Kasese Youth Polytechnic Vocational Training Institute (VTI) in Western Uganda are set to rip from the generous donation of a fully furnished Digital Resource center courtesy of the MTN Foundation in partnership with Enabel a Belgian NGO. This project is hinged on MTN’s strategic priority to build digital skills for digital jobs in alignment to the company’s Ambition 2025 Strategy.

The MTN Uganda Foundation which is the corporate social responsibility arm of MTN Uganda, in partnership with Enabel, an NGO that supports vocational training institutes with a vision to end unemployment and extreme poverty, is extending support to the ‘Skilling Uganda’ National Project in Vocational institutes through the provision of computers and fast internet connection. This is in fulfillment of the ministry of education and sports national program titled ‘Skilling Uganda’ as part of BTVET strategic plan 2012/3 to 2021/2.

The first phase of the ICT for Development project that happened in 2019/20 supported three VTIs including St. Daniel Comboni vocational institute in Moroto, St. Simon Peter Vocational Training institute in Hoima and Amello Vocational Training institute in Adjumani district with fully furnished ICT labs to promote digital learning in the VTIs.

To start off the second phase of the project, MTN Uganda Foundation alongside Enabel have completed and handed over the first of three ICT labs in Kasese Youth Polytechnic VTI. The ICT lab that cost 65 M has 10 computers, 4 batteries, a power stabilizer an uninterrupted power supply, and high-speed internet connectivity for a year.

Additionally, MTN has committed another 102M for the production of digital education content commonly known as How-to videos that shall be used for training at all the VTIs that MTN and Enabel have supported. These how-to videos shall facilitate training as learning materials for the students of all the beneficiary institutions as well as the neighboring communities.

The entire second phase is ongoing and will cost UGX 297,254,237 which will extend support to three vocational training institutes including Uganda technical college- Kyema in Masindi and Millennium Business school in Hoima and the Kasese Youth Polytechnic VTI.

Speaking at the handover ceremony for the Digital resource center of Kasese Youth Polytechnic, Richard Yego, the Managing Director MTN MoMo Uganda said that: “The aim is to skill Ugandan youth for the 21st-century job market by enabling them to access technical and vocational information online through open education resources for skills development.”

Yego further noted that the decision to support vocational institutions was based on the fact that vocational training was found to be an effective way of addressing unemployment, which is a major issue for the youth in Uganda today.

Cornille Bart, the Institutional Development Expert at Enabel said that: “We have been in partnership with the MTN Foundation for the past years to bridge the gap between Vocational Training Institutes and ICT solutions to support the educational needs of young people in districts all over the country. We are happy with the progress that the project has registered so far.”

While delivering the keynote Joe Walusimbi, the KaseseDistrict Resident District Commissioner (RDC) praised MTN Uganda and Enabel for supporting educational services in communities and recognizing government initiatives by supporting the education sector.

“We are in a highly developing technological era that requires all students to be able to have access to ICT tools that accomplish and solve everyday tasks.  ICTs play a critical role in shaping the desirable 21st century work and life balance that is required,” He/she said.

Dickens Koma Olwoch, the Principal of the Kasese Youth Polytechnic VTI expressed his gratitude to the MTN Foundation and Enable for their generosity.

“The Digital resource center is going to create an avenue for our students to learn and share in the vast educational materials available on the web and in the training materials you have shared.”  Said Olwoch.

He also noted that the institute will be able to connect with the advanced world of technology that will uplift them to a fast-paced workforce of the 21st century and not have them left behind.

Just last week, MTN equipped over 700 people from the grassroots communities across the country with digital skills that are requisite for the 21st-century job market, under its just-concluded 21 days of Y’ello Care staff volunteerism campaign.

MTN is committed to extending the benefits of a modern connected world to everyone across its footprint, according to its Ambition 2025 strategy.

MTN Uganda reaches out to Lira and Kawempe Communities under its 21 Days of Y’ello Care Campaign

Following the after-effects of two years of covid-19 that saw the economy closing. MTN Group announced to revamp communities by empowering entrepreneurs aiming at driving economic recovery.

MTN Uganda, yesterday, launched its staff-driven Corporate Social Responsibility titled 21 Days of Y’ello Care with the aim of providing communities with digital skills training as well as boosting their economic activities. 

Today, MTN staff reached out to the businesses under Focus for Life Development link in the Kawempe Division of Kampala City as well as the Tesobar Deaf Carpentry workshop in Lira District. 

The Kampala team was led by Joseph Bogera, the MTN Uganda Sales and Distribution General Manager while the team in Lira was led by Phillip Odoi, The MTN Uganda Northern region Business Manager.

Each of the two entrepreneurship communities received a cheque of Shillings 8,000,000 million to support their businesses. They were also given wheelbarrows, rakes, hoes, spades, brooms, and reflector jackets to be used in keeping a clean environment. This followed a cleaning exercise undertaken by the MTN staff prior to the digital skills training and the relief package handovers.

Kakande Muhamad, the Vice Chairperson of Focus for Life Development Link in Kawempe, applauded MTN for lighting up the community with the generous giving.

The MTN Staff were tipped on how to make charcoal briquettes from the solid waste by members from Focus for life Development.

The Resident City Commissioner of Kawempe division Sulaiman Mulangira, thanked MTN for supporting and engaging in sanitation duties and upskilling the youths in digital services. He also committed to partnering with MTN in its future projects.

Other groups that shall be supported include; the Masaka Diocese Youth, the Jinja based Tabulera Kawuma deaf carpentry, the disabled association of Fortportal, the Bunusya abarema twetungure association in Mbarara, the Glorious widows of Makindye, Missionaries of the poor in Rubaga and the Nakawa Market Vendors association.

According to Bryan Mbasa, the Senior Manager MTN Foundation, 21 days of Y’ello care is an opportunity to give back and be of importance to the community. 

“When I contribute to this program, I am able to impact the communities where we live and this gives me an ability to fulfill my purpose in the country at large. This is a very good initiative,” said Mbassa.


MTN Clarifies On Mulengera News Claim That Tax Appeals Tribunal Ordered Judgement Against MTN In June 2022

MTN has become aware of an article circulating on social media authored by Mulengera news dated June 13, 2022 in which it claimed among other misleading allegations that “the Tax Appeals Tribunal, in their 11 page judgement proclaimed last Friday….that MTN should promptly pay the UGX 24BN as assessed by URA”

MTN informs the public that this information is incorrect and deliberately misleading. MTN resolved all tax disputes between itself and the Uganda Revenue Authority in the Tax Appeals Tribunal following a joint reconciliation exercise in December 2020. MTN issued a statement regarding the cases resolved in the Tax Appeals Tribunal in December 2020, details of which are available at

The Tax Appeals Tribunal has not issued any judgement against MTN Uganda since 2020 as alleged by Mulengera News.

MTN is a responsible and ethical corporate citizen committed to meeting all its lawful obligations including all taxes that are properly assessed and are due and owing.

For more information, please contact:

MTN Uganda Press Office:
Rhona Arinaitwe: or 0772 123 067

MTN Uganda resumes 21 Days of Y’ello Care Campaign to drive economic recovery

  • MTN Uganda has resumed its employee volunteering campaign following a 2 -year hiatus occasioned by the covid-19 pandemic.
  • This development follows an announcement of the resumption of the global award-winning program by the MTN Group across its footprint.
  • Communities across the MTN footprint, including 10 communities in Uganda, shall be equipped with digital skills training with the aim of bolstering economic recovery following the covid-19 pandemic.

MTN Uganda has today launched its staff volunteerism campaign dubbed 21 Days of Y’ello care following the MTN Group’s announcement of the resumption of its employee volunteering program after two years of Covid-19. The annual event aims to secure high participation levels of MTN staff in high-impact social projects to uplift and empower the local communities in which the company operates. 

The campaign that is always executed within the first 21 days of June, will this year run under the theme: “Empowering Communities to Drive Economic Recovery”. The aim is to inspire MTN staff to upskill local communities in order to drive economic activity and participation through focusing on digital skills training and digital job creation. This is linked to MTN’s strategic priority to build digital skills for digital jobs aligned to the company’s Ambition 2025 Strategy. 

While launching the MTN Uganda 2022 21 Days of Y’ello Care campaign at the Kiira Road Police grounds in Kampala, The MTN Chief Executive Officer said that it was heart-warming for the staff of MTN Uganda to once again dedicate their time, financial resources, and skills, with the communities in a bid to uplift them socio-economically, especially now, following the drastic effects of the Covid-19 pandemic.

“Focusing on empowering communities to drive economic recovery after Covid-19 through training, upskilling, and knowledge sharing will create lasting and sustainable change in our communities”, Vanhelleputte said, at the inaugural activity of the 2022 MTN Uganda 21 days of Y’ello care campaign that doubled as the launch of this year’s campaign. 

This year, MTN’s 21 Days of Y’ello care program will focus on upskilling and supporting women, youth, and disadvantaged populations groups across the country. 10 groups have been selected in; Lira, Jinja, Masaka, Fort Portal and Mbarara as well as the 5 divisions of Kampala i.e. Nakawa, Kawempe, Rubaga, Makindye and Central Division.

Today, two MTN Uganda staff teams interfaced with the Kamwokya Women tailoring group in the Kampala central division. The group members underwent digital upskilling training sessions delivered by MTN staff, to help them harness the power of digital usage to bolster their economic activities through various digital channels that resonate with the current digital era.

The MTN team also engaged in community cleaning sessions before handing over a cheque of Ugx. 8,000,000/= to support the group.

Lillian Cheptoek, the Kamwokya women’s team leader thanked MTN for reaching out to their group.

“Our group was badly affected during the pandemic. We are happy that MTN has reached out to support us. We have learnt how to manage our business better and how to market our products on social media. We shall use the money to buy tailoring equipment to boost our business,” Cheptoek said.

Other groups that shall be supported include; the Tesobar deaf carpentry group in Lira, the Masaka Diocese Youth, the Jinja based Tabulera Kawuma deaf carpentry, the disabled association of Fortportal, the Bunusya abarema twetungure association in Mbarara, the Glorious widows of Makindye, Focus for Life Development Link in Kawempe, Missionaries of the poor in Rubaga and the Nakawa Market Vendors association.

All the above groups will undergo a digital upskilling training and receive a financial recovery package to boost their businesses, from MTN Uganda staff, who will also engage in a cleaning activity in their areas of operation. 

Launched in 2007, 21 Days of Y’ello care is a global award-winning staff initiative that has seen MTN staff step out of their offices every year, to make a difference in the lives of the communities within which they work. Some of the past initiatives in Uganda include a successful two-day career expo, various training programs aimed at tackling youth unemployment, and entrepreneurship training among many mentorship programs aimed at positively impacting communities across the country.

This year, MTN is committed to adding economic value by contributing to society through its programs focused on digital education, digital skills and digital skills training. The company believes that reducing the digital skills gap will help address issues of digital and social inequalities while at the same time ensuring the sustainability of the business. 

Therefore, by resuming its 21 Days of Y’ello Care campaign, MTN is striving to ensure that it continues to strengthen and uplift all of our community members in their pursual of economic development within each community since everyone deserves the benefits of a modern connected life.

MTN Uganda boosts Empango celebrations with Ush.30m  

  • MTN has contributed Ushs.30Million towards the 28th coronation anniversary celebrations of Omukama Solomon Gafabusa Iguru IV of Bunyoro Kingdom.
  • MTN and Bunyoro kingdom have a longstanding relationship aimed at uplifting the socio-economic well-being of the people of Bunyoro.
  • MTN is keen on working with cultural institutions because they are a strong community establishment that foster shared beliefs and unity of purpose. 

MTN Uganda over the weekend  reaffirmed its partnership with the people of Bunyoro Kingdom as the monarchy celebrated the 28th coronation anniversary of Omukama (King) Solomon Gafabusa Iguru IV.

Following the signing of a collaboration agreement in 2019, MTN, last weekend handed over a cheque of Ush.30 million to support the Kingdom’s initiatives at the Empango celebrations in Hoima. This follows the lifting of restrictions on public gatherings that prevented the celebrations from happening over the last two years. 

The cheque was handed over to the Bunyoro Kingdom officials at the Karuzika Royal Palace in Hoima by the MTN Mobile Money Uganda Limited Managing Director, Richard Yego, who graced the celebrations. Yego congratulated the Omukama of Bunyoro, who was not in attendance of the celebrations due to ill health, upon his peaceful and developmental 28-year reign.

“We are honored to join the people of Bunyoro on this auspicious day that gives us an opportunity to celebrate the friendship between MTN and the people of Bunyoro Kitara. On behalf of MTN Uganda, I congratulate the people of Bunyoro for reaching this great milestone under the great leadership of Omukama Gafabusa who has fostered peace and overseen transformation in the region,” Yego said. 

Yego further added that MTN has committed resources to further champion the socio-economic and cultural wellbeing of the people of Bunyoro through supporting health, education, and sports initiatives in the Kingdom.

The Bunyoro Kingdom Prime Minister, Owek. Andrew Byakutaga, on behalf of the Omukama, thanked MTN for its continued support towards the kingdom’s initiatives. “We extend our sincere appreciation to MTN for all the work they do in our communities to extend better services to our people here in Bunyoro and beyond,” Byakutaga said.

Last year, MTN Uganda restored 50 hectares of forest cover in Kagombe forest in the Bunyoro region as part of its “Uganda is Home” campaign. Prior to that, the telecom refurbished and re-equipped the Maternity ward and theatre at Kigorobya Health Center IV in Hoima district to champion maternal and child health in the region. Furthermore, the telecom set up an ICT laboratory at the St. Simon Peter Vocation Training Institute to champion digital skilling.

This year, MTN is set to sponsor the Bunyoro football tournament and bicycle race competitions between the counties of Bunyoro. MTN is keen on working with cultural institutions because they are a strong community establishment that fosters shared beliefs and unity of purpose, which resonates with MTN’s #GoodTogether notion. 

MTN Uganda launches the Kabode Supa Smartphone on Mpola Mpola payment terms.

  • MTN Uganda has today launched Kabode Supa smartphone under its pay mpola mpola device financing scheme, that allows customers to buy smartphones but pay for the handset in installments.
  • With an initial deposit of UGX 99,000, a customer can walk away with the Kabode Supa smartphone and make monthly, weekly, and daily installments as low as UGX 833 for 6 months to fully own the device.
  • The Kabode Supa comes with 2GB free MTN data every month for the next seven months.

Determined to boost digital inclusion in the country, MTN Uganda has today launched Kabode Supa smartphone under its “pay Mpola Mpola” device financing scheme, that allows customers to pay for their smartphone in installments.

With an initial deposit of only UGX 99,000, a customer can walk away with the Kabode Supa smartphone and make monthly, weekly or daily installments as low as UGX 833 for 6 months to own the device.

In addition, the Kabode Supa comes with 2GB free MTN data every month for the next seven months upon purchase. All data bundle purchases made in the first 3 months also come with 100% bonus.

MTN Kabode Supa is an internet-enabled smartphone with a 5 inch screen, 3GB RAM, 8GB memory space, 2Mega Pixels (MP) front camera and 8 MP back camera with a long battery life.

The handset is the newest addition to the company’s family of the Kabode smartphones purchased through the mpola mpola scheme.

Commenting about the new smartphone in Kampala today, Ian Mugambe, Segment Manager, MTN Uganda said the device financing scheme “mpola mpola”, aims to ensure that everyone has access to ICT and digital services, noting that the Kabode Supa is the latest smartphone MTN is offering customers on these favorable and affordable payment terms

“At MTN, we believe that everyone deserves to enjoy the benefits of a modern connected life so we are excited to champion smartphone adoption and penetration in Uganda in order to witness the next chapter in Uganda’s digital inclusion journey,” he said.

In 2020, MTN Uganda introduced a device financing scheme dubbed ‘mpola mpola’ with the aim of ensuring affordability of handsets for Ugandans across the country through accepting payment in installments.

The MTN Kabode Supa smartphone is available at all MTN shops countrywide. Upon payment of the initial deposit of UGX 99,000/-, the customers goes away with their phone and completes payment through instalments of UGX 833/- daily, UGX 6,250/- weekly or UGX 25,000/- for the monthly instalment option.

Tension builds at the MTN Busoga Masaza Tournament as Bugabula defeats Bukono

Perennial Busoga Masaza Cup participants-Bugabula County Football Team on Sunday registered another victory by putting 4 goals behind Bukono County Football Team. Even when football pundits had regarded them as underdogs, the description has since shifted to being title contenders in this year’s edition if Sunday’s win is anything to go by.

The first half ended in a goalless draw in a game played at Kamuli Municipality Ground and watched by several area politicians. However, Bugabula entered second half like wounded lions culminating into four goals making it inevitable for them not to lead Bukowe group with six points and five goals scored. Their goals were scored by Jafali Kaziro, Rajab Waiswa with a brace and Sam Semigugu.

Even when they hail from the bigger Bugabula BB chiefdom, pitting them against each other as regards this year’s edition has brought in some rivalry. On Saturday, Budiope County FC visited Buzaaya County FC in a game played at Luzinga Church of Uganda Primary School ending in a 1 all draw.
Buzaaya had taken the lead in the 43rd minute courtesy of Samuel Ngobi before Budiope’s Joel Waiswa equalized with 21 minutes left to play. The two counties sit joint-2nd in Kagulu Hill Group table behind Butembe who have six points from two games.

Elsewhere, Bukooli Namayingo beat Busiki 2-1 over the weekend. Bukooli Namayingo scored in the 41st minute through Ismael Ndifuna before Busiki equalized in the 81st minute through Dennis Amori upon converting a penalty. However, Busiki’s plot for a draw was short lived as Bukooli Namayingo found a winning goal in the 89th minute through Douglas Soita who headed into the net from a corner kick.
Busiki sit bottom of Mawembe group, Bukooli Namayingo are second with 3 points in a group led by historicals from Bunha.

Relatedly, Bugweri did not find any issues overcoming Luuka. The game’s only goal was scored by Derrick Menya. Bugweri opted for long balls and a defensive system in the second half which in turn handed them their first victory in the tournament. Nhenda group seems to be the group of death with Kigulu, Luuka and Bugweri having three points each.
This year’s edition is sponsored by MTN Uganda and Mayuge Sugar Industries Limited as co-sponsors.
Summary of Results.
Buzaya 1 vs 1 Budiope
Busiki 1 vs 2 Bukooli Namayingo
Bugweri 1 vs 0 Luuka
Bugabula 4 vs 0 Bukono

Goal Galore in the Busoga Masaza Kingdom Tournament

Ever since the 5th edition of the MTN Uganda sponsored Busoga Masaza Cup kicked off last month, each of the participating teams seems to have sharpened their scorers. This is evident by the number of goals scored so far.

Just last weekend, many games were played at the different venues but scoring in each of the games was inevitable.

Ayub Dester’s troops from Bunha County Football team made a trip to Namayingo on Sunday for a showdown with Bukooli Namayingo. In a game played at Namayingo P/S playground, a lone goal by David Okema was enough to condemn Bukooli Namayingo for the day. This is Bunha’s second successive win.

Luuka managed to humble Bunhole Bunanhumba 2-1 thereby securing the much needed three points in Nhendha group.

Luuka took an early lead in the first three minutes having capitalized on pitch familiarity and doubled their lead in the sixteenth minute courtesy of Allan Bamwanga and Cyrus Mugulusi respectively. Bunhole tried to fire back but only managed a consolation through Joel Tumwesigye in the second half.

Bulamogi, who are making their maiden appearance in the tournament, silenced their neighbors from Bukono with a 1-0 in a game played at Ivuukula Sub-county playground. Their solitary goal was scored by Nathan Bwamiki in the first half. Bulamogi capitalized on Bukono’s mistakes since they were being underrated as new entrants to the tournament. Bulamogi will next entertain Bugabula next month in Namwiwa.

The Busoga Masaza tournament is graced by a vast number of people from the kingdom and the tournament sponsors including MTN Uganda.

Joseph Bogera, General Manager, Sales and Distribution, MTN Uganda said the tournament has driven a sense of unity amongst the people of Busoga.

“On behalf of MTN Uganda, I am glad to see the matches unfolding because the tournament is testimony to the power of togetherness which is critical to cultural bonds. MTN seeks to harness togetherness amongst the people of Busoga, because at MTN, we believe we are good together,” he said.

Goals during this tournament have been an attractive factor that draws the people of Busoga from far and wide to watch the matches.

2017 Masaza Champions Butembe County Football team didn’t waste time in humbling perennial participants from Budiope.

Second half goals from Bashir Kabi and Farouk Magumba were the main determinants of the game. This is Butembe’s second win after overcoming Buzaaya in the opener of the tournament.

It should be noted that all the 8 matches played so far have seen at least a goal scored in each game. No game has ended in a draw.

Luuka’s Allan Bamwanga has scored the fastest goal so far (inside the opening 5 minutes in the first half).

A total of 14 goals have been scored, 4 in the first half and 10 in the second half by 12 different players in total.

Relatedly, no team has lost a game after taking the lead either in first or second half.

Bunha has scored the highest number of goals (5) at the moment.

Bunha and Butembe have each kept 2 clean sheets at home and away from home successively.

This weekend, the streak remained undefeated as Buzaaya and Budiope ended the match at 1-1 at Luzinga Community Primary School while Bukooli Namayingo defeated Busiki 2-1 at Namutumba Upper Primary School.