Ethiopia’s state-owned Ethio-Telecom reported an annual revenue of 75.8 billion birrs (about 1.38 billion U.S. dollars) during the past Ethiopian fiscal year, which ended on July 7.
Announcing the company’s 2022/2023 fiscal year business performance Tuesday, Ethio-Telecom chief executive officer (CEO) Frehiwot Tamiru said the state-run telecom operator has seen a 23.5 percent rise in revenue to 75.8 billion birrs during the last fiscal year.
“By offering 203 products and services, we have managed to earn 75.8 billion birrs during the budget year, up from 61.3 billion birrs which was earned in the previous budget year,” said Tamiru in a briefing.
She said the company has enjoyed consistent growth and profitability over the past five years with last year’s fiscal year profit hitting 18.78 billion birrs.
According to the CEO, Ethio-Telecom has championed growth over the years by introducing new technologies, expanding mobile network coverage and offering customer-oriented services.
The CEO said Ethio-Telecom’s mobile subscribers have reached 72 million, with 69.5 million of them being voice subscribers and 33.2 million data and internet users.
As part of its ambition to provide modern telecom service to its users, Ethio-Telecom has been partnering with Chinese tech companies mainly Huawei and ZTE and realizing its 4G and 5G LTE telecom services and expansion of high-tech telecom facilities.
“We have carried out several telecom expansion projects with ZTE and Huawei. We have worked and continue working with ZTE and Huawei on expansion of 4G and 5G telecom services,” Tamiru told Xinhua.
According to the company’s data, subscribers to Telebirr, Ethio-Telecom’s mobile financial service launched in May 2021, also reached 34.3 million and these customers made transactions worth 679.2 billion birrs during the 2022/2023 fiscal year.
