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Ethiopian telecom earns over $655m in revenue in half year

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Ethio-telecom has generated over $655 million in revenue in past six months, achieving 95% of the target and 12.3% increase from the same period last year.Mobile voice accounts to 49% of the total revenue earned while data and Internet contributed 26% and value added services 11%, CEO of Ethio telecom Frehiwot Tamru said on Thursday in a briefing.

She said the number of mobile voice subscribers has reached 48.9 million; data and Internet users 23.5 million and fixed line services 981,000. Ethiopia is a country with over 110 million population.

The CEO stated that $80.2 million was generated from international business, registering 105% of the target and 5.9% increase from same period last year.

Frehiwot revealed that the number of Ethio telecom subscribers has reached 50.7 million, an increase of 11.2% from the same period last year.

Ethio- telecom population and geographic coverage has reached 95% and 85%, respectively, while telecom density reached 50%, it was learned.

As part of its corporate social responsibility, Ethio-telecom has contributed over $8.2 million in kind, services and cash.

COVID-19, fiber and copper vandalism, power interruption, land acquisition delay, and increasing operational costs were among the challenges Ethio-telecom encountered over the past six months.


Published on 10.02.2021

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