Ethio-telecom Secures over 36 Billion Birr in Budget Year

Addis Ababa ENA July 23/2019 Ethio-telecom disclosed today that it has secured over 36 billion birr net profit this past Ethiopian budget year.

The 36.3 billion birr net profit was secured by making 40 up to 50 percent tariff discount and the performance is 85 percent of the plan.

At a press briefing she gave today Ethio-telecom CEO, Frehiwot Tamiru, said the company  also paid 362 million USD of its debt which was pending over the last three years.

According to her, negotiations have also been held with several international telecommunication companies to further modernize the telecommunications system in the country.

The number of costumers of the company has reportedly reached 43.6 million in the entire  country in the budget year; and the data show 15 percent growth in the budget year, the CEO said.

Out of the total 43.6 million customers, 41.92 million are mobile phone users and 1.9 million fixed line users. Some 22.3 million are Internet users, it was learned.

The CEO stated that the encouraging achievements are prompting the company to be ready for  modernizing of the sector and making it a good competitor internationally in the sector.

Despite the good results Ethio-telecom faces challenges such as telecom fraud, power outage, and tampering with fiber cables.