The state-run Ethiopia-Telecom’s annual revenue rose by 8.5 percent to over $1.17 billion in the 2021/22 fiscal year that ended on June 7, its CEO announced on Thursday.
In a press briefing on Thursday, CEO Frehiwot Tamiru said the company was able to attain 87.6 percent of the revenue target set for the budget year that ended on July 7, 2022.
“This achievement is remarkable,” said Tamiru, given the impact of security-related challenges in the country which resulted in service outages in 3,473 sites in the year.
However, the CEO said the revenue showed an 8.5 percent jump year over year while the subscribers’ number grew by 18.4% to 66.59 million.
The telecom has attributed the increases to network and system expansion as well as optimization works.
The 4G service, which started in Addis Ababa, has now reached 136 cities while 67 new products and services such as a pre-commercial 5G service rollout in the capital,were launched in the year, says the telecom performance report.
The report says the mobile voice service to 64.5m subscribers generated a 51% share of Ethio telecom’s over a$1.17 billion total revenue.
Data and internet service also contributed 27percent of the revenue, said the company which has 26.1 million subscribers. The remaining came from international business (10%), value-added services (5.7 percent), and other services (6.6 percent).
Moreover, a total of $974, 300 was remitted through the international remittance service partnering with 37 countries within the last six months.
MG/abj/APA