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State Telecom Giant Amasses 47.7b Br in Revenues

Jul 30 , 2020

Ethio telecom has reported gross revenues of 47.7 billion Br during the just ended fiscal year, a 31.4pc rise from the previous year.

Out of total revenues, 147.7 million dollars of it was generated in foreign currency, according to CEO Frehiwot Tamiru.

Revenues from mobile voice calls, data and internet contributed 49pc, 29pc and nine percent, respectively. Value added and other services contributed 9.4pc and 3.6pc, accordingly.

In the reporting period, the company paid 11.3 billion Br in taxes and four billion Br in dividends.


The 125-year-old telecom monopoly serviced 318.4 million dollars of its debt during the past fiscal year.

Showing 5.8pc growth, total telecom users reached 46.2 million. From this figure, 44.5 million are mobile voice call users, while 23.8 million are users of mobile data and internet. The remaining use broadband and fixed line services.

Recently, the Ministry of Finance hired Deloitte to advise the partial privatisation process of the company for 3.8 million dollars. The government is currently in the process of selling 40pc of the company's shares to an international firm while retaining a 55pc ownership. The remaining five percent of shares will be availed to interested buyers in the country, as well as the diaspora.

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