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Uganda Securities Exchange

Last update 04 Dec 2025

Airtel Uganda Ltd · AIRTEL.UG

Uganda · Communication Services · Wireless Telecommunication Services · —

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Airtel Uganda Ltd is a Uganda-based telecommunications operator and a listed issuer on the Uganda Securities Exchange. The company provides mobile voice, mobile data, fixed connectivity, home broadband, enterprise mobility, value-added services, and digital channels for consumer, business, and institutional customers. Its commercial model depends on subscriber acquisition, network coverage, data consumption, prepaid and postpaid usage, distribution reach, enterprise connectivity demand, and the quality of customer-service and digital self-care platforms. Airtel Uganda forms part of the wider Airtel Africa group, giving it access to regional telecom expertise, brand systems, procurement capabilities, and product know-how while operating under Ugandan licensing and regulatory requirements. For investors, the company provides exposure to Uganda's mobile communications market, rising smartphone adoption, data-led revenue growth, enterprise connectivity needs, and competition between major mobile network operators. Key analysis points include network investment, spectrum access, average revenue per user, mobile money ecosystem development, churn, regulatory fees, taxation, and capital allocation.

Fundamentals

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Metric  (UGX, B) 2024 2023 2022 2021 2020
Revenue Total Revenue 1 986
EBITDA 839
EBIT 629
Net income Net Income 317
Operating margin 32%
Net margin 16%