Ethio Telecom, the state-owned telecommunications giant, aims to add 10 million new subscribers to its mobile money platform, Telebirr, for the 2023/24 Ethiopian fiscal year.
Closing the just-ended fiscal year with 34.3 million subscribers, CEO of ethio telecom, Frehiwot Tamiru, said she expects a 28 percent increase in the customer base, reaching 44.1 subscribers by the end of the new fiscal year.
Firehiwot is presenting her office’s plan for 2023/24 FY today at the Skylight Hotel. She said Ethio Telecom’s revenue from all its services will also increase by over 19 percent to 90.5 billion birr. The telecom company’s total revenue for the past fiscal year announced last week was 75.8 billion birr.
The number of merchants using Telebirr is planned to increase by 50 percent to 88,000 while the number of agents enrolled is planned to reach 124,000. This comes at the edge of facing competition from the new entrant, Safarcom’s MPESA which recently acquired a license for USD 150 million.
