Radar | Nov 09,2019
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.
Radar | Nov 09,2019
Fortune News | Nov 16,2024
Viewpoints | Aug 08,2020
Radar | Oct 12,2024
Commentaries | Feb 24,2024
Money Market Watch | May 31,2025
Radar | Oct 05,2025
Fortune News | Dec 04,2022
Featured | Apr 10,2026
Fortune News | Apr 04,2020
Photo Gallery | 190340 Views | May 06,2019
Photo Gallery | 180081 Views | Apr 26,2019
Photo Gallery | 176747 Views | Oct 06,2021
My Opinion | 142461 Views | Aug 14,2021
Jun 27 , 2026
The federal legislative house rushed through one of the country's most contentious ho...
When Parliament takes up the appropriation bill, federal legislators will receive a d...
Jun 13 , 2026
The recent policy decision to fully open freight forwarding to foreign capital may be...
Jun 6 , 2026
For a political veteran as controversial as Getachew Reda, last week's national elect...
Loading your updates...