FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds

Fortune Logo

Ethio telecom’s Strategic Expansion Fuels 23pc Revenue Rise, Bucking Internet Restrictions

Jul 18 , 2023

The Ethiopian state-owned telecommunications behemoth ended the fiscal year with a robust increase in its annual revenues, recording 75.8 billion Br, marking a significant 23pc uptick from last year. The growth in revenues underscores the firm's aggressive strategy to expand its customer base and services, even amid challenges like temporary internet shutdowns.

One driver of the growth has been the revenues from data and internet services, which accounted for one-fourth of Ethio telecom's total earnings. This comes despite restrictions on internet access until this week. The lifting of these restrictions is likely to bolster future revenue streams even further, considering the ever-growing reliance on digital platforms in all walks of life.

Under the able leadership of CEO Frehiwot Tamiru, Ethio telecom has witnessed tremendous growth.

The company recorded a remarkable 109pc year-on-year increase, netting 18.7 billion Br. Such a surge in revenues demonstrates the effectiveness of its business model and affirms Frehiwot's strategic direction.

One of Ethio telecom's critical initiatives has been the expansion of its 4G coverage, which now spans across 300 cities. Such wide-scale implementation of 4G connectivity displays the telecom giant's commitment to bridging the digital divide in the country, providing more Ethiopians access to high-speed internet services.

The company's figures are equally impressive in its international business operations, generating 164 million dollars. Frehiwot hailed Ethio telecom as the fourth low-cost telecom service provider globally, a notable accomplishment considering the capital-intensive nature of the sector. She also credited a carefully planned strategy to manage costs while optimizing profitability for these achievements.

The CEO stressed the importance of maintaining profitability in such a sector, thereby balancing the need for affordable services and economic sustainability.

Put your comments here

N.B: A submit button will appear once you fill out all the required fields.



Related Posts

Share This Post
Linkedin
Google+


Most read

Latest News

Editor's pick

Commentaries

Exports Need One Owner, Not a Dozen

For years, Ethiopia took a different path from its African peers when it comes to managing its export business. Where Ke...

Beyond Reasonable-Doubt Standard Takes Root in Criminal Proceeding

For years, few questions in the domestic criminal law have proved as contested or as...

Fineline

Leaders of the National . . .

Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the me...

When the country’s most. . .

When the country's most senior diplomats and envoys return back to their posts after two-week debriefings, they leave behind a point or two...

Editorial

Exports Record Worth Having. They Worth More as a Beginning

Aug 22 , 2026

A record is a strange thing to worry about. Federal trade officials have booked the b...

Listen to the Poets Before Bulldozers Narrow Addis Abeba's Memory

Aug 14 , 2026

Aschalew Fetene, known as “Ardi” and admired for his poetic depth, has built a ti...

In Going Digital, the State Designs for the Citizen It Wants to Have

Aug 8 , 2026

The World Bank asks readers to picture a mother in rural Ethiopia who has never held...

The Rains May Fail, Policy Dare Not

Jul 31 , 2026

Weldu Yiheysh has not read the Pacific temperature charts. He does not need to. In Shibta District of Enderta Wereda, in...

Gallery

Parliament Approves New Cabinet Members

Oct 6 , 2021

Parliament Approves New Cabinet, Incorporates Opposition Leaders Lawmakers have approved today the nominations of 22 ministers, including three opposition leaders. Two MPs have voted against, while 12 abstained...

2020 in Posterity

Jan 5 , 2021

TIGRAY VOTES DESPITE "NULL & VOID" THREAT

Sep 9 , 2020

IN-PICTURE: LAUREATE'S RECEPTION  

Dec 14 , 2019

PM Abiy Ahmed (PhD) at a Gala Dinner Called for the Awarding of the Félix Houphouët-Boigny Peace Prize

May 6 , 2019

Faces, Voices of Addis Abeba

Apr 26 , 2019

Sunday With Eden

Get Good First, Let the Passion Follow

Over coffee not long ago, a conversation about youth employment took an unexpected tu...

The Plate on the Screen Isn't the Plate on the Table

Last week, I listened to Dr Berry Dubiso, a podcast named after an Ethiopian doctor a...

Life Matters

Hyper-Connected. Rarely Together

A few days ago, a quiet realisation stopped me in my tracks. I had not seen one of my closest friends in nearly a year. It sounds absurd...

A Body Learns Itself from the Inside

Some experiences resist explanation. One can read volumes, hear them described, or watch them on screen,...