Airtel Uganda has released its financial results for the year ended December 31, 2025 indicating strong earnings .
The numbers point to a digital transformation that is no longer emerging, but firmly underway.
The telecom operator reported a 41.1% increase in profit after tax to shs 446.9 billion, driven by sustained changes in consumer behavior and disciplined cost management.
The performance is particularly notable given the challenging regulatory environment, including a sharp reduction in local interconnect rates from shs 45 to shs 26 late last year.
In a historic first for Uganda’s telecom sector, data revenue overtook voice revenue. Data revenue rose to shs 1,101.7 billion, surpassing voice revenue of shs 1,026.8 billion. While voice services remain important, the company’s revenue center of gravity has clearly shifted.
Data revenue grew 22.4% year-on-year, supported by a 19.6% increase in data customers and a 14.8% rise in data usage per customer. The figures highlight the deepening reliance on mobile internet services across households and businesses, reinforcing the permanence of Uganda’s digital migration.
Managing Director and CEO Soumendra Sahu emphasized the company’s operational discipline and customer focus, noting that revenue grew by 13.3% while EBITDA increased by 24.5%, with margins improving to 54.9%.
He attributed the performance to continuous investment in network quality and service delivery.
Beyond its retail base, Airtel is repositioning itself as a technology infrastructure partner. Through its Network as a Service model under Airtel Business, the company is delivering integrated ICT and connectivity solutions to enterprises and public institutions.
A notable example is the Hoima City Stadium project, where Airtel is providing end-to-end ICT infrastructure, from secure firewalls to high-speed fiber connectivity.
This strategic expansion into the B2B segment allows Ugandan businesses to scale efficiently while outsourcing complex network management and security needs. It also reduces Airtel’s exposure to fluctuations in the traditional voice market, further strengthening earnings resilience.
For investors on the Uganda Securities Exchange, the strong performance translates into tangible returns.
The Board of Directors has recommended a final dividend of shs 3.55 per share, bringing the total dividend for the full year to shs 11.15 per share, representing a 41.6% increase compared to the previous financial year.