Ethio Telecom Amasses 36.3b Br in Revenues

Jul 27 , 2019

Ethio telecom earned 36.3 billion Br in revenue, about 85pc of its target during the last fiscal year. Revenues increased by seven percent compared to the year before. The company also grossed 24.5 billion Br in profit, which was 79pc of the target and shows a 5.6pc rise from the previous budget year. Following tariff discounts made for local mobile calls; texts, mobile data services and broadband internet service, data traffic usage have increased by 130pc and voice data usage by 19pc. Covering 44.5pc of the country, Ethio telecom currently has 43.6 million customers. Out of the total customers, 41.9 million are mobile phone users, 22.3 million are data users, and internet and fixed-line users number 1.9 million. Ethio telecom paid off 362 million dollars in loan arrears accumulated over the last three years. The company also paid 16.2 billion Br in taxes and seven billion Birr in dividends. Due to various business and technical interventions of the management of the company, incoming international traffic has increased by more than 50pc, which was declining consistently in previous years.