In pursuit of our mission to remain the preferred digital financial services provider in Uganda, we rolled out a number of new products to deepen digital adoption and deliver a holistic customer experience.

We experienced the most growth in our credit offering. The number of borrowers grew from 2.2 million in 2024 to 3.4 million by the end of 2025, while the number of loans issued grew over 549% to 223 million loans taken in 2025. Our loan value increased from UGX 1.5 trillion in 2024 to UGX 2.7 trillion. This growth has been driven in large part by MTN MoMo Advance, a product we launched in September 2024. It has quickly become our fastest-growing and most popular loan product, and now contributes significantly to both loan volumes and loan value.

Another remarkable milestone is the MTN MoMo Virtual Card which we relaunched in February 2025, in partnership with Mastercard, Diamond Trust Bank, and Network International. The card enables customers to make online payments directly from their MTN MoMo wallets. So far, we have activated over 250,000 virtual cards, and about 100,000 of those users are actively transacting.

We also launched the new MoMo App, which has been redesigned to function as a comprehensive financial platform that helps users manage daily payments while also connecting them to a wider set of financial tools.

The new app features biometric security, scheduled and recurring transfers, additional transaction history, and direct interaction with MoMo Advance and MoMo Ticketing. Beyond the consumer app, we are also rolling out a new agent app and developing an enterprise merchant platform in order to enable digital payments for everyday business operations.

We continue to make equally significant strides in our savings, investment and insurance solutions. We launched MTN Yinvesta in partnership with Sanlam Investments East Africa Limited a unit trust investment product that makes investing easy, accessible, and flexible for all Ugandans. I am also proud of the impact we registered with our School Fees Loans product offered in partnership with Furaha.

We are continually grateful for this and all our other partnerships that lie at the core of our operations. MTN MoMo is not a stand-alone outfit; working with the right partners is the key to scaling faster, delivering better solutions, and building a stronger, more resilient digital financial eco-system.

MTN MoMo reported substantial growth across all key pillars.

Fintech revenue grew by 17.3% to UGX 1.1 trillion, reflecting the growth in the number of MTN mobile money subscribers. By close of 2025, our user base had surpassed 14.7 million, up by 6.5% from 13.8 million in 2024.

This translated into increased activity on the platform, with a 16.8% increase in transaction volume to UGX 5.0 billion and a corresponding 23.3% increase in transaction value to UGX 195.5 trillion.

Advanced services contributed 30.6% of fintech revenue, up 1.8 percentage point from 28.7% in 2024 supported by growth in our payments and lending portfolio. The fintech contribution to overall service revenue increased by 1.1 percentage point to 31.2% from 30.1% in 2024.

While our active agents increased by 13.5% to 241,100, our base of active merchants grew by 33.6% to over 114,800 transacting consistently across monthly cycles.

I am very proud of the team at MTN MoMo that I lead their continued dedication is behind the growth registered in 2025. We are also exceedingly grateful to our loyal customers who challenge us to aspire to more, and to all our valued partners and stakeholders who make our vision possible.

Together, we remain unstoppable!