Ethio Telecom grows revenue by 20%

03 February 2023

Ethio Telecom has generated a total of 33.8 billion birr in revenue in the first half of the 2022/2023 financial year.

This represents an increase of 19.9% compared to revenues for the first half of the previous fiscal year. This figure also represents 96% of the objectives set by the telecom company for the period.

Mobile voice services represent 47.4% of total revenue; data and internet 28%; international business 8.4%; value-added services 6.5%; infrastructure 2.2% and the remaining 7.5% comes from other sources. The company explains that

“This result was achieved thanks to the extension of the network and the optimization work aimed at improving the experience and satisfaction of customers, by offering 50 new products and 41 local and international products and services,” said Ethio Telecom in a statement.

Ethio Telecom’s total subscriber base reached 70 million, representing 98.6% of the subscriber base target and an increase of 15.1%. Mobile phone subscribers reached 67.7 million, data and internet users 31.3 million, fixed services 862,200 and fixed broadband subscribers 566,200. incumbent operator reached 27.2 million users.

For the current financial year 2022/2023, Ethio Telecom hopes to increase its subscriber base by 10.3% to reach 73.5 million and generate 75 billion birr.

“This achievement can be considered remarkable, given the challenges posed by the provision and expansion of telecommunications services and the fact that it is achieved in a competitive market. This success is only possible thanks to the commitment of the leaders and employees of our company to make Ethio Telecom a preferred operator,” said Ethio Telecom in a statement.