Ethio Telecom garners 28 bln Birr revenue in six months

The telecom giant of the nation, Ethio Telecom announced Monday that it has generated 28 billion Birr revenue in six months period, which achieved 86.4% of the plan.

The revenue collection show a 6.7% increment from the previous budget year similar period.

Frehiwot Tamru, CEO of Ethio Telecom presented the 2021/22 first half (July 31 to December 31) business performance. The achievement has realized through network optimization works to enhance customer experience and satisfaction; offering 23 new and 19 revamped local and international products and services, generating $74.8 million from international business and scoring 89.3% of the target, said Frehiwot.

“Ethio Telecom commenced the budget year with the implementation of its three years BRIDGE growth strategy along with the 2030/2021 yearly plan to realize its aspiration to become a preferred telecom operator among customers and partners,” she said.

Total number of subscribers reached 60.8 million achieving 100% of the subscriber base target and an increment of 10.1 million new customers or 20% of growth has been registered from the previous year similar period.

Meanwhile, mobile service subscribers reached 58.7 million, data and internet users 23.8 million, fixed services 923 thousand, and Fixed Broadband subscribers reached 443 thousand by adding 133 thousand new clients, according to Frehiwot.

Currently, Ethio Telecom is running different projects on infrastructure and system capacity expansions and enhancements aiming to boost network coverage capacity and quality of services out of which the expansion of 4G/LTE was completed and the service has already been launched in 136 cities.

The company has launched 13 new products and services—which increased the number of products and services to 42.

Furthermore, the Telecom giant has engaged in the Mobile Money business introducing “Telebirr” with the aim to meet the country’s growing demand for digital financial services.

“Telebirr” is surpassing the industrial trend, has reached over 13 million subscribers within such a short period and with a total transaction value of 5.1 billion Birr.

To ensure service coverage as well as benefit partners, more than 46 thousand agents and more than 11 thousand merchants have been engaged so far. Additionally, integration with Banks is finalized enabling money transfer from Bank to “Telebirr” in 11 Banks and from Telebirr to Bank in eight Banks.

Lack of security in parts of the country, electric power blockage, infrastructure and property damage due to the consequences of armed conflicts, land acquisition delay and incorporate compensation request and account suspension are among the challenges which tested the performance of the company, according to Frehiwot.