Latest news with #MTNUganda
Reuters
6 days ago
- Business
- Reuters
MTN Uganda to spin off fintech unit into separate firm
KAMPALA, July 23 (Reuters) - MTN Uganda ( opens new tab, the East African country's largest telecom firm, plans to split off its fintech unit into a separate entity and aims to list it on the local bourse in three to five years, the company said late on Tuesday. The company, which has a mobile subscriber base of about 21 million, is a unit of South Africa's MTN Group (MTNJ.J), opens new tab and competes mainly with the local unit of India's Bharti Airtel ( opens new tab. MTN Uganda received shareholder nod at an extra-ordinary general meeting held on Tuesday for the proposed separation of its mobile money and fintech business, the company said in a statement. Mobile money is a cell phone-enabled service that allows subscribers to transfer money and make payments for products and services like utility bills, energy purchases, food orders and ride hails. The platform has grown rapidly in Africa, where it is now widely used. Under the reorganisation, MTN Uganda's mobile money fintech business will be transformed into a separate entity majority owned by MTN Group Fintech Holdings B.V, the fintech arm of MTN Group. The goal is to "ultimately see the independent fintech business list separately on the Uganda Securities Exchange (USE), alongside MTN Uganda, within a three- to five-year period," MTN Uganda Chief Executive Sylvia Mulinge said in the statement.
TimesLIVE
7 days ago
- Business
- TimesLIVE
MTN Uganda to spin off fintech unit into separate firm
MTN Uganda, the East African country's largest telecom firm, plans to split off its fintech unit into a separate entity and aims to list it on the local bourse in three to five years, the company said late on Tuesday. The company, which has a mobile subscriber base of about 21-million, is a unit of South Africa's MTN Group and competes mainly with the local unit of India's Bharti Airtel. MTN Uganda received shareholder nod at an extra-ordinary general meeting held on Tuesday for the proposed separation of its mobile money and fintech business, the company said in a statement. Mobile money is a cell phone-enabled service that allows subscribers to transfer money and make payments for products and services like utility bills, energy purchases, food orders and ride hails. The platform has grown rapidly in Africa, where it is now widely used.
Time of India
23-07-2025
- Business
- Time of India
MTN Uganda to spin off fintech unit into separate firm
KAMPALA: MTN Uganda , the East African country's largest telecom firm, plans to split off its fintech unit into a separate entity and aims to list it on the local bourse in three to five years, the company said late on Tuesday. The company, which has a mobile subscriber base of about 21 million, is a unit of South Africa's MTN Group and competes mainly with the local unit of India's Bharti Airtel . MTN Uganda received shareholder nod at an extra-ordinary general meeting held on Tuesday for the proposed separation of its mobile money and fintech business, the company said in a statement. Mobile money is a cell phone-enabled service that allows subscribers to transfer money and make payments for products and services like utility bills, energy purchases, food orders and ride hails. The platform has grown rapidly in Africa, where it is now widely used. Under the reorganisation, MTN Uganda's mobile money fintech business will be transformed into a separate entity majority owned by MTN Group Fintech Holdings B.V, the fintech arm of MTN Group. The goal is to "ultimately see the independent fintech business list separately on the Uganda Securities Exchange (USE), alongside MTN Uganda, within a three- to five-year period," MTN Uganda Chief Executive Sylvia Mulinge said in the statement.
Time of India
06-07-2025
- Science
- Time of India
Viral: Netizens are shocked to realise what the G in 5G stands for, and it's not gigabyte
Image credits: Getty Images If you were living life peacefully, assuming you knew what the G in 5G, the internet you use daily is, then you are about to lose your mind for some time. It doesn't help the matter that the 'G' in every different data variation such as 3G, 4G, 5G and 10G has a different meaning with gigabyte being the one for only 10G. Recently a post on X by MTN Uganda asked people to answer "without Googling, what does the "G" in 4G and 5G stand for?" The options for the answers were A) Generation B) Gigabyte C) Google and D) Grid Most of the people in the comments section answered B for Gigabyte, however, the answer was A for Generation. Others went for out-of-the-box answers such as Generator, Greed, Good thief, Gamma rays and more. — mtnug (@mtnug) What does 5G mean? Image credits: X/@mtnug 5G is the fifth generation of wireless technology. It is commonly used for smartphones and is better than the previous generations at connecting multiple devices at once. The evolution of the G system began in 1980 with the invention of the mobile phone which allowed for analogue data to be transmitted via phone calls. In 1991, digital came into the arena with 2G and SMS and MMS capabilities were launched. 5G in particular debuted in South Korea in April 2019 and during the Covid-19 pandemic, US researchers found that the effects of radio-frequency radiation generated by ultra-fast mobile internet had a negligible health impact. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trending in in 2025: Local network access control [Click Here] Esseps Learn More Undo The study published in PLOS ONE was done after several 5G masts were vandalised during lockdowns following conspiracy theories that they caused COVID-19. Thus, the researchers conducted experiments using embryonic zebrafish, an organism whose 70% genes match those of humans, meaning the results of experiments on them can be confidently applied to humans. They exposed the zebrafishes to 3.5 GHz radio frequency radiation for two days in a box made of copper. The radiation entered the box through an antenna and the copper prevented the radiation from escaping. In the results, experts found no significant impacts on mortality thus meaning that 5G is safer for humans than any other data variation. So the next time you talk about 5G internet you know it's fifth generation and not five gigabytes.
IOL News
07-05-2025
- Business
- IOL News
MTN Uganda reports strong first quarter performance amid regulatory changes
MTN Uganda has reported a resilient financial performance for the quarter to March 31, 2025, in spite of regulatory changes. Image: REUTERS/Esa Alexander/File Photo MTN Uganda navigated changes in the regulatory environment in the first quarter to end-March and it remains on track to meet medium-term guidance, the CEO Sylvia Mulinge said Wednesday. The business headwinds were cushioned by supportive macroeconomic conditions, a stronger shilling that appreciated 5.7% against the US dollar, and stable headline inflation which averaged 3.6%, only slightly higher than the 3.2% average in the first quarter of 2024, and marginally higher than the 3.1% of the fourth quarter of 2024. Earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by 13.7% year-on-year supported by a resilient revenue performance and moderate 12.2% cost growth. MTN contributed over 13% of MTN Group's EBITDA in 2024. Profit after tax was up by 20.6% to Ush 180.9 billion. 'Despite the regulatory MTR (mobile termination rate) changes, we are pleased with the solid strategic execution that supported growth in other areas of our business, while ensuring margin resilience and value preservation in our operation,' Mulinge said. A focus on customer centricity enabled the subscriber base to grow to 22.8 million in the quarter. Data and fintech subscribers increased by 19.4% and 9.8% respectively. Service revenue grew by 13.5%, with stronger contributions recorded from data and fintech portfolios. In the connectivity business, an interim industry-wide directive from last year relating to the reduction in MTR from Ush 45 to Ush 26, impacted voice outgoing revenues in the quarter. 'To ensure resilience of our portfolio, we intensified our customer value management (CVM) and improved our bundle offering and service proposition to our customers,' said Mulinge. On the data front, smartphone penetration was invested in by enhancing the affordability of devices through the Pay Mpola Mpola program and device purchase subsidies through partners. This helped to increase the number of smartphones in use by 9.8% on the network. Data revenue accelerated by 32.5%, anchored by a 19.4% growth in active daily users to 10.2 million, indicating 1.7 million in net additions year-on-year.
