Ethio Telecom CEO Firehiwot Tamiru announced that the company’s revenue during the just concluded Ethiopian fiscal year has increased by 23.5 percent compared with the same period last year.
According to her, Ethio Telecom has generated more than 75.8 billion Birr revenue during the past Ethiopian fiscal year, which covers from 08 July 2022 to 07 July 2023.
Ethiopia’s state-owned telecommunications company has reported strong revenue in the fiscal year.
“During the budget year, we earned 75.8 billion birr income. We achieved 101 percent of our target.’’,Ethio Telecom CEO Firehiwot Tamiru said.
According to her, the revenue growth was achieved through a number of factors, including network optimization work to enhance customer satisfaction, the launch of new products and services, and cost optimization measures.
The company’s total subscribers also grew by 8 percent during the fiscal year, reaching 72 million. Mobile voice subscribers reached 69.5 million, data and internet users reached 33.9 million, she indicated.
Ethio telecom’s mobile business ”telebirr”,which was introduced with the aim of enhancing the country’s digital economy, now has 34.3 million subscribers with a total transaction value of 679.2 billion Birr, Frehiwot disclosed.
From foreign currency generating services that include international interconnect, roaming, infrastructure share and international remittances, some 164.1 million USD has been generated, achieving 107.8 of its target.’’
Frehiwot said that the company has managed to be successful despite a number of challenges, adding that it is committed to providing quality telecommunications services to its customers.
“Given the challenges, this achievement can be considered as remarkable,” she said. “In addition to expanding our revenue stream, our company has devised a cost optimization strategy and managed to save over 6.4 billion Birr in the fiscal year.”
The company plays a key role in providing telecommunications services to Ethiopians, and its growth is helping to drive economic development.
Source: Ethiopian News Agency
