16/03/2024
ANALYSIS: Airtel Uganda promised prospective shareholders big growth in 2023 but their published results show, that the telco fell short nearly on all its pre-IPO growth promises.
But this will probably not be the biggest problem for Airtel Uganda and its shareholders when they convene for their first post-listing AGM later this March. The real problem will be that MTN Uganda, which is Airtel's arch-rival in the same year, managed to register 2.3 million subscribers, widening to 4.3 million the subscriber gap between the two rivals. This is despite Airtel having planted some 399 new sites, compared to MTN's 350 sites. Subscriber numbers are the engine that subsequently drives voice, data and fintech revenues.
Although Airtel still has an edge over MTN in data revenue, MTN's voice revenue performance by far decimates this advantage.
The stage for an interesting 2024 is set for the two near-duopolies.
At The CEO Magazine, we are driven by the notion that every business is a story that deserves to be shared.