Enterprise garners 386.7 mln Birr in six months

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The Ethiopian Postal Services Enterprise (EPSE) has garnered 386.7 million Birr in six months of this fiscal year.

The performance was 110% of its initial plan of 351.1 million Birr.

EPSE’s six months performance appraisal has conducted by Habtamu Hailemichael, Director General of the Public Enterprises Holding and Administration Agency.

Improvement of postal service delivery and reduction of void and lost messages were attributed to the profitability of EPSE.

Meanwhile, Ahmed Shide, Minister of Finance has coordinated the six months performance appraisal of the state-owned Ethio Telecom.

In this first half of this fiscal  year, Ethio Telecom has garnered a total of 28 billion Birr revenue, which is 86.4% of the target—32 billion Birr and 6.7% increment from the previous budget year similar period.

With regard to profit, Ethio Telecom has generated 12.2 billion Birr profit, which is 98.38% of the target 12.4 billion Birr.

The total number of Ethio Telecom subscribers reached 60.78 million, which registered 20% increment from the previous budget year similar period, said Frehiwot Tamiru, CEO of Ethio Telecom.

The performance was over 100% of its initial plan of 60.71 million.

Furthermore, Ethio Telecom recently engaged in the mobile money business through the introduction of “telebirr” with the aim to meet the country’s growing demand for digital financial services.

 “Telebirr” service has reached over 13 million subscribers within short period and with a total transaction value of 5.1 billion Birr, according to Ethio Telecom’s report presented to Ministry of Finance.

The report covered the telecom giant’s half-year business performance for the period of July 1, 2021 to December 31, 2021.




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