The Ethio Engineering Group (EEG) has set an ambitious target of generating more than Birr 14.6 billion in revenue from its operations during the current fiscal year, marking a substantial increase compared to the Birr 490 million it earned last year.
Ethio Engineering Group (EEG) and YTO-CAMAC have signed a memorandum of understanding to construct a tractor factory in Ethiopia. The factory is expected to be completed in 11 months and will be capable of producing 50 tractors per day, or over 10,000 tractors annually.
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.
