2merkato

Kenyan telecom operator Safaricom PLC has reported a 55% rise in half-year profit, supported by strong performance in its domestic market and reduced losses in Ethiopia.

Phoenix Group, a portfolio company of International Holding Company (IHC) and a global operator of digital asset infrastructure, has launched a 30-megawatt (MW) crypto-mining and digital infrastructure facility in Addis Ababa, Ethiopia.

Ethio Telecom announced that it earned Birr 162 billion in revenue during the 2024/25 Ethiopian fiscal year, marking a significant milestone in its ongoing digital transformation efforts.

Safaricom Ethiopia has reported a 270% increase in annual revenue, reaching Birr 7.2 billionfor the fiscal year ending March 31, 2025, up from Birr 2.7 billion the previous year. Despite the revenue growth, the company remains in its investment phase, recording an operating expense of Birr 47 billion.

Ethio Telecom has unveiled “Zemen Gebeya,” a nationwide online marketplace aimed at revolutionizing commerce in Ethiopia. The platform is designed to connect businesses of all sizes, micro to large enterprises, facilitating the seamless exchange of goods and services.

Ethio telecom’s mobile money platform, Telebirr, has facilitated over Birr 4.1 trillion in transactions since its launch in May 2021.

Ethio Telecom has announced the expansion of its high-speed 4G LTE Advanced mobile network to 114 additional cities across the Bale Zone, Arsi Zone, East Bale Zone, West Arsi Zone, and East Shewa Zone.

Ethiopia will host the Ethiopian Technology Expo 2025 (ETEX 2025), an international event designed to foster discussions among African and global technology experts, startups, and policymakers.

Frehiwot Tamru, CEO of Ethio Telecom, and Mark Elliott, President of Mastercard Africa, recently met to discuss potential collaborations aimed at advancing digital financial services across Ethiopia. The strategic meeting focused on leveraging telebirr and Mastercard platforms to enhance financial inclusion and drive sustainable economic growth.

Ethio Telecom has announced major achievements in the first half of the 2024/25 fiscal year, including saving Birr 3.5 billion through cost-effective digital services, transferring over one trillion Birr via Tele Birr, and expanding 5G services to 10 cities.