The management of Ethio Telecom will be handed over to Ethiopian staff once again as of December 13th. It is to be remembered France Telecom, the French telecom giant, had been managing the company on a contract bases since 2010.

France Telecom was given a two year contract to manage the state owned Ethio Tlecom with the intention of boosting telecom operations in the country, according to Dr Debretsion Gebre Michael, Deputy Prime Minister and Minister of Information and Communication.

This contact will expire end of this month. The contract will not be extended further and Ethio Telecom is not negotiating with any other foreign based telecom for further management contract said Dr Debretsion.

Ethio Telecom customers have reached 18.28 million subscribers showing a 59 percent increase, which is also a 79 percent achievement of the set target. Fixed line numbers users have reached 805,000 which meets 81.4 percent of the planned goal.

Ethio Telecom had projected to earn a net profit of 10.16 billion birr in the previous fiscal year but the actual number was just 8.87 billion birr.

Source: Capital