Ethiopia’s state-run telecom has posted over $546 million in revenue over the first half-year of the current Ethiopian fiscal year.
Briefing the company’s half-year performance report on Thursday, Chief Executive Officer Frehiwot Tamiru said the revenue has seen a 37 percent increase compared to the same period last year, driven by rapid growth in data consumption and mobile money transactions.
“The growth is not linked to price adjustment which the company introduced last December but the rise in data traffic,” said Tamiru, noting that data usage of customers had increased by 46.6 percent.
She revealed that the company’s customer base has reached 87 million, driven by a strategic focus on technology accessibility and digital inclusion.
According to her, the company’s strategic plan remains rooted in inclusivity, particularly through expansion projects in rural and developing areas with the view to ensuring that all citizens participate equally in the digital economy.
Despite the strong performance, Tamiru said foreign currency shortage remains a challenge for the company to expand infrastructure facilities. She stated that regulatory constraints, including mandatory infrastructure-sharing requirements have imposed additional pressure on the company’s operations.
Tamiru said mobile money has played a key role in advancing financial inclusion and driving growth across the country with Telebirr only serving more than 58 million customers and facilitating approximately 1.9 trillion Birr in the half-year.
According to Tamiru, the state-run telecom operator has aggressively engaged in the expansion of telecom network expansion, extending 4G LTE services to an additional 133 towns, bringing the total number of 4G-enabled cities across the nation to 1,069.
“This network development has helped 102 districts and 332 localities access new connectivity, unveiling the company’s commitment to linking hinterlands with modern technology,” she said.
She further said that Telebirr played a vital role in the national economy by processing $16 million in international remittances.
MG/as/APA