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Ethio Telecom, Ethiopia's state-owned telecom services provider, announced it is aiming to increase telecom penetration in Ethiopia to 61 percent in the newly started Ethiopian fiscal year. The company plans to do so by increasing its total number of subscribers by 14 percent to 64 million, mobile voice subscribers by 13 percent to 61.37 million, data and internet users by 16.2 percent to 28.5 million, and fixed broadband subscribers by 48 percent to 554 thousand. By doing so, Ethio Telecom aims to generate 70 billion birr in revenues this year, a 24 percent increase compared to last year.

Ethio Telecom and the Commercial Bank of Ethiopia have launched a new mobile finance digital service to offer digital financial services to the community. The service offers interest-free loans, transactions, and small business services. It aims to modernize and improve the lives of the community by providing access to efficient services and digital loan and savings services in a simple and efficient way.

The CEO of Ethio Telecom, Frehiwot Tamru, highlighted the significance of bringing mobile financial services closer to the community. She said that the service will enable access to efficient services and provide digital loan and savings services to the community in a simple and efficient way.

The President of the Commercial Bank of Ethiopia, Abe Sano, emphasized the bank's efforts to provide digital technology services to customers and the importance of working together with Ethio Telecom to make the service accessible to the community.

The two institutions plan to work in coordination with stakeholders to expand and update access to digital financial services.

Source (including image): Addis Zemen

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.

Employees of the former Ethiopian Telecommunication Corporation have been called back by Ethio Telecom. Ethio Telecom is forming a new company ‘Hidasse’ Telecom Supportive Share Company’ which will offer employment to all laid off ETC employees at their previous salaries.

Former ETC employees who accept the employment with ‘Hidasse’ will not be considered as employees of Ethio Telecom.

Ethio Telecom (ET) has collected 21.5 billion Birr in gross profit in the 2014/15 budget year, Capital reported.