Ethio Telecom Amasses 36.3b Br in Revenues

Jul 27 , 2019


[ssba-buttons]

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

Ethiopia Unveils Consortium to Insure Millions of Farmers

Ethiopia has launched its Agricultural Insurance Consortium (AICE), pledging to protect three million farmers by 2026. Announced on July 3, 2025, at the Hyatt Regency, the initiative is backed by Pula Advisors and five major Ethiopian insurers. AICE plans to promote climate resilience through insurance bundled with the government's input voucher system. Leveraging AI platforms like Mavuno and PIE, it plans to standardise products, lower costs, and expand coverage to over 200 woredas. With agricu...


Radar

New Coopbank Partnership Targets Youth Economic Empowerment

The Cooperative Bank of Oromia (Coopbank) has signed a strategic agreement with Melka Ethiopia to provide loan services to over 120,000 young men and women nationwide. The partnership plans to promote youth economic empowerment by expanding access to finance and creating jobs, with a strong focus on rural and underserved areas. Both institutions held joint discussions to explore ways to improve youth livelihoods and financial inclusion. By closing access gaps, the partnership is expected to help...


Radar

Ethiopian Netpreneur Program Training Kicks Off

The Ethiopian Netpreneur 2025 Training Program has officially launched its first cohort in Addis Abeba with 64 entrepreneurs beginning their first round of training. Organised by the Global Digital Talent Academy, the initiative plans to empower local business owners, startup founders, and digital sector players with global-level e-commerce skills. At the launch event, Innovation and Technology Minister Belete Mola (PhD) urged participants to leverage the opportunity to build networks and shape...