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Ethio Telecom’s revenue surges by 32 percent
Ethio Telecom CEO Frehiwot Tamiru

Ethio Telecom’s revenue surges by 32 percent

The sole telecom provider in Ethiopia, Ethio Telecom, on Wednesday disclosed that its revenue has increased by a whopping 32 percent.  

In a press conference held in her office CEO Frehiwot Tamiru revealed that the company earned a revenue of 22.04 billion birr in the first six months of the budget year. Frehiwot said the company for the first time in its 126 year history achieved 104 percent of its targeted revenue, adding that the increase was by a whopping 32 percent compared to the same period last budget year.

The state monopoly generated USD 73 million from international business services, up by 116 percent from the same period last year. The company paid 3.89 billion birr in tax and 2 billion birr dividend to the government. The company has serviced a loan amounting to USD 148.15 million in the stated period.   

Mobile voice accounted for 50.4 percent of the total revenue, where data and internet accounted for 27.3 percent, revenue from international business 9.8 percent, value-added service 8.5 percent and the remaining 3 percent was generated from other sources.

Ethio Telecom’s customers have reached 45.6 million in the budget in question. Meanwhile, mobile voice subscribers have also increased to 44.03, data and internet to 22.74 million and fixed-line services 1.01 million. The overall Teledensity has increased to 45.4 percent.