Annual Revenue of Ethio Telecom Jumps over 56 Billion Birr

July 13,2021 (ENA) Ethio telecom revealed that it has earned 56.5 billion Birr revenue during the just concluded Ethiopian budget year.

Briefing journalists today, Ethio telecom CEO Frehiwot Tamiru said the income exceeded that of last year by 18.4 percent.

The CEO attributed the achievement to network optimization, enhancement of customer experience and satisfaction as well as the offering of 34 new and 28 revamped local and international products and services.

Mobile voice accounted for 47.5 percent of the total revenue while data and Internet contributed 27 percent, international businesses 11 percent, value added services 9.5 percent, and the remaining 5 percent from other sources.

Some 166.5 million USD was generated from international businesses, showing an increase of 13 percent from the past fiscal year.

The CEO noted that the company's performance for the budget year is outstanding given the challenges posed by COVID-19 and security issues in parts of the country.   

According to Frehiwot, the total number of subscribers of the company has now reached 56.2 million, achieving 108 percent of subscriber base target and an increase of 22 percent from June 2020.

To meet the growing demand for data and Internet services in the country, demand based 4G/LTE Advanced expansions have been done in Addis Ababa and also for the first time outside of Addis Ababa in 68 towns across the country, the CEO revealed.

In addition, 4G enabler handsets were provided at an affordable price in those regions where the 4G/LTE Advanced services were launched, it was learned.

Frehiwot pointed out that COVID-19 pandemic, increasing operational cost, and revenue impacts, commercial power interruption, many relocation requests and delays in land acquisition for new site development were among many challenges the company faced.   

The number of Mobile voice subscribers in Ethiopia has reached 54.4 million, data and Internet users 25 million, fixed services and broadband subscribers 912,000 and 374,000, respectively.