TECNO Surpasses Samsung in African Market

Apr 24 , 2021


The Chinese mobile phone manufacturer, TECNO, has overtaken Samsung as the smartphone brand with the largest distribution in Africa's market, accounting for 18pc of all smartphone shipments to the continent in 2020. TECNO, founded in 2006, has been deepening its ties to the African market and has expanded to over 60 countries in Asia, Latin America and the Middle East in recent years. Samsung's share of smartphones in Africa fell to 15pc from 18pc during the previous year, according to Counterpoint Technology Market Research (CTMR), a global firm specialising in products in technology and telecom. Counterpoint also reported a 6.7pc fall in overall smartphone shipments to Africa in 2020, largely due to supply chain disruptions caused by COVID-19. The two Asian manufacturers are way ahead of other well-known smartphone brands in terms of market share in Africa, with Huawei registering eight percent of shipments during the same period, while Apple accounted for just one percent.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email