Ethio Telecom generated 215.8 Billion birr revenue says Ethio Telecom CEO Frehiwot Tamiru, who gave a statement today regarding the company’s performance during the 2018 Ethiopian fiscal year.
In her statement, she explained that the company carried out various activities to diversify and expand its sources of revenue during the fiscal year. She stated that Ethio Telecom generated 215.8 billion birr in revenue during the year, achieving 99.7 percent of its planned target. Compared with the previous fiscal year, the company recorded a 33.2 percent growth, the CEO said.
She also announced that the number of Ethio Telecom customers has reached 90.12 million, while users of Telebirr, the digital financial service that plays a significant role in expanding financial inclusion, have reached 60.6 million.
The CEO noted that Telebirr processed 2.61 billion transactions worth 4.19 trillion birr during the fiscal year alone. She said these achievements demonstrate the institution’s successful transition from a traditional telecom operator into a comprehensive technology company.
To improve network quality and expand accessibility, 603 new mobile stations were constructed, increasing the 4G population coverage to 82.23 percent.
In addition, Ethio Telecom has transitioned into a public share company and carried out its first public share registration on the Ethiopian Securities Exchange. CEO Frehiwot Tamiru further explained that the company continued strengthening its contribution to the national economy by paying 73.5 billion birr in taxes during the fiscal year.
