Ethiopia’s state owned Ethio-telecom has generated over $1.2billion up by 7 percent from the revenue secured during previous budget year which ended on July 8, 2019, an official has said.
Briefing journalists on Tuesday, Ethio-telecom CEO, Frehiwot Tamiru said her company paid over $500 million tax which is 18.8 percent of the total tax paid by high taxpayers during the budget year.
She said the over $1.2 billion net profit which represent 85 percent of the plan and the sum was secured amid 50 percent tariff discount during the budget.
Frehiwot said the company also paid $362 million of its debt which was pending over the last three years.
The number of costumers of the company has reportedly reached 43.6 million in the entire country in the budget year; and the data show 15 percent growth in the budget year, the CEO said.
Out of the total 43.6 million customers, 41.92 million are mobile phone users and 1.9 million fixed line users.
Some 22.3 million are Internet users, it was learned.
The CEO stated that the encouraging achievements are prompting the company to be ready for modernizing the sector and making it a good international competitor.
Despite the good results Ethio-telecom faces challenges such as telecom fraud, power outage, and tampering with fiber cables.
MG/as/APA