Ethiotelecom Marks Territory through Half Year Report

Jan 14 , 2023


[ssba-buttons]

Ethiotelecom bagged 33.8 billion Br in revenues, showing a 20pc increase compared to the same period of the previous year. The Chief Executive Officer, Frehiwot Tamiru announced the result were gained despite significant tariff discounts, with voice services accounting for 47.4pc, while internet services contributed 28pc of the revenues. The net profit has reached 8.18 billion Br in the last six months, which Frehiwot attributed as a "great accomplishment". She said the state-owned telecom has 31.3 million internet users from 70 million customers, showing a growth rate of 15.1pc from last year. Telebirr subscribers increased to 27.2 million from its inception in May 2021, a 38.8pc share of Ethiotelecom customers. The financial service  App transacted more than 165 billion Br in the last six months, through which 82.5 million Br was earned. According to Frehiwot, the telecom generated 64.8 million foreign currency from international businesses despite the crunch having impeded its service from moving as anticipated. during a press event at Skylight Hotel (Bole Road). Following the breakout of the northern war, telecommunication services were cut off in the Tigray Regional State for more than a year. "Resuming the services required a hefty work," said Firehiwot. The telecom is working on a new project to create a job opportunity for youths, dubbed "capacity building", with a 294 million Br investment.


Radar

New Directive Tightens Rules for Foreign Employment Agencies

The Ministry of Labour & Skills has issued a directive under the Ethiopian foreign employment framework, setting clear standards for agency size, capital, and operations. Depending on their level, newly established agencies can serve between 10 and over 100 workers a day. Office space requirements range from 100sqm to 700sqm, tied to operational scale. Level-one agencies must hold a paid-up capital of 20 million Br and place a security deposit of 250,000 dollars or its birr equivalent...


Radar

Audit Findings Expose Deepening Gaps in Accountability

A new study reveals that audit irregularities in Ethiopia have continued to rise year after year, driven by weak enforcement and unresolved legacy problems. The finding, commissioned by the Office of the Federal Auditor General (OFAG) and conducted by independent researchers from Addis Abeba University, examined audit reports covering 2009–2023. The study attributes the persistent irregularities to limited accountability, poor follow-up, and reduced audit coverage during political transitio...


Radar

Africa Maritime Conference Sets Sights on Seafaring Innovation

The Ministry of Transport & Logistics has launched the first-ever Africa Maritime Conference, marking a bold move to position landlocked Ethiopia as a continental hub for seafaring innovation at a time of global talent shortages. At a pre-conference briefing, Frans Joubert, CEO of YCF Manning Ltd, underscored Africa's untapped potential in the maritime sector. Of the 1.9 million seafarers worldwide, only four percent are African—despite the continent hosting around 150 maritime academie...