Sinopia News Top

Ethiopia: Ethio Telecom Achieves Revenue Target

Ethio Tele 20230718

Ethio telecom's Mobile Money business, Telebirr, had 34.3 million subscribers and a total transaction value of Birr 679.2 billion in the 2022/23 fiscal year. The company generated a total revenue of Birr 75.8 billion, achieving 101% of its target. The total number of subscribers reached 72 million, an increase of 8% from the previous year. Mobile voice subscribers were 69.5 million, data and internet users were 33.9 million, and fixed broadband subscribers were 618.3K.

Telebirr has engaged 615 service centers, 136 master agents, over 107.3K agents, and 58.4 merchants to enhance the digital economy and ensure financial inclusion.

Ethio telecom aims to become a leading digital solutions provider in Ethiopia's competitive telecom market through its three-year LEAD Growth Strategy Which was launched on July 01, 2022. The strategy has 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.

Source (including image): Fana BC

Additional source: 2Merkato Archives