Ethio Telecom nets 12% rise in H1

18 February 2021

Ethio Telecom saw a 12% rise in first-half revenue to end-December to US$650m, the firm reported. The operator said mobile voice services contributed 49% of the revenue and data services some 26%. Ethio plans to launch mobile money services soon but has yet to give a timeframe.

In June 2020, regulator the Ethiopian Communications Authority (ECA) said it had received 12 bids for two telecom licences the government plans to award to multinational companies.

However, it has not given a deadline for when it will award the licences. Ethiopia’s telecoms industry is considered the big prize in a push to liberalise the economy as a protected market which serves more than 110 million people.

The government said last year it will retain a 55% stake in the state-run Ethio Telecom, with 40% going to international companies and the remainder to local investors. Meanwhile,

Ethio has hired KPMG to determine its economic value ahead of a part-privatisation, while the Ministry of Finance has hired Deloitte Consulting as its own adviser.