(3 minutes read)
· Ethiopia’s sole telecom services provider Ethio Telecom announced it has earned a revenue of US$1.29 billion (56.5 billion birr), an 18.4 percent rise compared to the previous year, which exceeds the target set for the period
· The company has also seen a 22 percent rise in the number of subscribers, which is now at 56.2 million thanks to the expansion of 4G services outside of Addis Ababa
· Over 6.58 million customers have subscribed to Ethio Telecom’s mobile money service launched in May, named as Telebirr.
Ethiopia’s sole telecom services provider Ethio Telecom announced it has earned a revenue of US$1.29 billion (56.5 billion birr), an 18.4 percent rise compared to the previous year, which exceeds the target set for the period.
The company has also seen a 22 percent rise in the number of subscribers, which is now at 56.2 million thanks to the expansion of 4G services outside of Addis Ababa. Over 6.58 million customers have subscribed to Ethio Telecom’s mobile money service launched in May, named as Telebirr. The Ethio Telecom customers can send, store and receive money using only their phone number.
Ethio Telecom has last month launched a tendering process, to sell a 40 percent stake of the company to private investors, reserving 5 percent for the general public in Ethiopia, and a controlling 55 percent to remain in the hands of the Ethiopian government.
As reported by www.trendsnafrica, Ethiopia has awarded a new telecom license in May to the “Global Partnership for Ethiopia” consortium, comprised of Safaricom (Kenya), Vodafone Group (UK), Vodacom Group (South Africa), CDC Group (UK), and Sumitomo Corporation (Japan).
Ethiopian Prime Minister Abiy, present during the launching of the service, commended Ethio Telecom and stakeholders for enabling the realization of the project. Ethio Telecom launched the service a week after obtaining the operational license for the service.
