Jan 14 , 2023
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.
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