State Telco Unveils New Strategy as Competition Looms

Oct 1 , 2022

Frehiwot Tamiru, chief executive officer (CEO) of Ethio telecom, has introduced a new business strategy as the state-owned operator buckles up for its first taste of competition in the form of Safaricom Ethiopia Plc. Dubbed "LEAD", the strategy looks to drive growth through a focus on digital and financial services. Ethio telecom has increasingly turned its attention to digital services, beginning with the launch of Telebirr as the first non-bank entity to obtain a payment instrument issuer's license from regulators at the central bank. Two months ago, it launched loan and savings services on the platform as it continued pushing the boundaries in the financial sector. Ethio telecom reported 61.3 billion Br in revenues last year. It is among over two dozen of the largest state-owned enterprise to come under the umbrella of the Ethiopian Investment Holdings (EIH) earlier this year.