Ethio Engineering Group (EEG) revealed that it had turned a profit after overcoming bankruptcy - which was prevalent over the past two years. The company celebrated this achievement by inaugurating its newly renovated main office building over the weekend.
Ethio Telecom announced a new program called Ethiotel Innovation Program which was mainly designed for startup digital and financial technology companies. The program will address several challenges that are faced by startups in various areas such as marketing and market penetration, finance, and talent attraction.
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.
The telecom monopole in Ethiopia, Ethio Telecom, requested the government to expand to some parts of Eastern Africa.
Ethio Telecom announced that it had signed an agreement with CNET Software Technologies for the implementation of Telebirr and CNET integrated payment system. The agreement will allow the customers of supermarkets, companies in entertainment and hospitality service, hospitals, pharmacies, and cafes which are partners of CNET Technologies to pay service charges using Telebirr.
