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Ethiopia: Ethio Telecom Announces a New Strategy


Ethio Telecom announced that it was implementing a new 3 year strategy called Lead starting from July 01, 2022 with the aim of providing services beyond connectivity, enabling inclusive growth by providing digital and financial services, and simplifying the daily activities of organizations and individuals. The new strategy substituted the telecom’s strategy named Bridge which was implemented between 2019 and 2022.

Bridge was designed to meet the market dynamism, reshaping and leading the company with a competitive mindset with the ultimate aim of making it a preferred operator.

During the implementation of this strategy, Ethio Telecom increased its customer base by 75.6% while its revenue grew by 76%. In addition, the company recorded a 142% growth in net profit and its establishment regulation was amended by the Council of Ministers which increased its capital to Birr 400 billion.

In the 2022/2023 fiscal year, Ethio Telecom plans to increase its subscriber base by 10.3% to reach 73.5 million. The company also aims to raise the number of its mobile voice customers by 10.5% to reach 71 million and its fixed broadband customers by 37.4% to reach 696.7 thousand.

Source: Ethio Telecom