Ethiopia's Ethio Telecom Reports 12% Rise in Revenue

Ethio-Telecom-logoEthiopia's sole telecom services provider Ethio Telecom reported that it has collected $650 million (25.6 billion birr) till the end of December, during the half-year of the current fiscal year. This has shown a 12 percent rise in revenue compared to the previous year.

The company announced that 49 percent of the revenue is accounted for by mobile voice services, while data services contributed 26 percent.

Ethio Telecom said it is planning to launch mobile money services soon, but did not specify the time.

Considered to be a "big prize" in telecom, Ethiopia's telecom industry is attracting a lot of attention as the market opens up in the country of over 110 million people.

Last year, the Ethiopian government had announced it will retain 55 percent stake in Ethio Telecom, sell 40 percent to international companies, and 5 percent to the local population.

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Source: ET Telecom

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