Ethio Telecom Amasses 36.3b Br in Revenues

Jul 27 , 2019


Ethio telecom earned 36.3 billion Br in revenue, about 85pc of its target during the last fiscal year. Revenues increased by seven percent compared to the year before. The company also grossed 24.5 billion Br in profit, which was 79pc of the target and shows a 5.6pc rise from the previous budget year. Following tariff discounts made for local mobile calls; texts, mobile data services and broadband internet service, data traffic usage have increased by 130pc and voice data usage by 19pc. Covering 44.5pc of the country, Ethio telecom currently has 43.6 million customers. Out of the total customers, 41.9 million are mobile phone users, 22.3 million are data users, and internet and fixed-line users number 1.9 million. Ethio telecom paid off 362 million dollars in loan arrears accumulated over the last three years. The company also paid 16.2 billion Br in taxes and seven billion Birr in dividends. Due to various business and technical interventions of the management of the company, incoming international traffic has increased by more than 50pc, which was declining consistently in previous years.


Radar

Regional Development Banks Tie-up for Private Sector Growth

Arab Bank for Economic Development in Africa (BADEA) and Trade Development Bank Group (TDB) signed a 100-million-dollar disbursement for a hybrid capital instrument last week on the sidelines of the African Union summit. Admassu Tadesse, president and managing director of TDB Group, and Sidi Ould Tah (PhD), president of BADEA were the signatories at the event attended by Central Bank Governor Mamo Mihretu, CEO of the Ethiopian Securities Exchange Tilahun Kassahun (PhD), and Deputy Chairperson of...


Radar

National Bank Reports Five-Year Low Inflation, Record-High Exports

The National Bank of Ethiopia (NBE), in its six-month snapshot on monetary and external sector developments, reports that inflation has dropped to 15.5pc, the lowest in five years and a 13.9pc decline from last year's 29.4pc rate. Headline inflation stood at 34.5pc during the same period in 2022. The report also shows a sharp decline in food inflation, which fell by 16.6pc, from 32.3pc in January 2024 to 15.7pc in January 2025. Non-food inflation dropped by 10.2pc, from 25.3pc last year to 1...


Radar

Horn Initiative Boosts Regional Development Agenda

A total of 20 projects worth three billion dollars are currently being implemented in Ethiopia under the Horn of Africa Initiative, which held a performance review platform last week. This initiative, established in 2019, seeks to economically integrate Horn of Africa countries through development projects. Finance Minister Ahmed Shide accentuated the initiative's goals of enhancing infrastructure connectivity, strengthening trade and economic integration, building resilience to natural and man...