Ethio Telecom collects $593 million revenue

Ethiopia’s state monopoly telecommunication service provider, Ethio Telcom, has earned 16.71 billion birr revenue ($593 million at the current exchange rate) in the first six months of Ethiopia’s fiscal year started July 8, 2018.

This is indicated by the agency, which presented its six month performance report to the national parliament this morning. Out of the total 63.2% is collected from mobile phone subscribers, while the contribution of data and internet to the total income is 28.7%.

The contribution of international telecom service to the overall income was only 5.5%, according to the report. Last year the same period in six months the agency has earned a total collected 18.4 billion birr revenue.

The total number of mobile data internet users in Ethiopia has reached 19.49 million, says the state monopoly Ethio Telecom. The total number of telecom service subscribers in Ethiopia has also reached 41.1 million, according to the report. Out of the total 39.53 million are mobile subscribers.

The report also indicated that the total telecom coverage in Ethiopia has reached 43%.

Including Ethiopian Airlines, Ethio Telecom is one of the mega state enterprises, which Ethiopian government has announced to partially privatize selling minority share to foreign investors. The latest move of the government announced a few months ago by the reformist prime Minister Abiy Ahmed also involves the long awaited liberalization of the sectors.

The telecom history of the country shows that telecommunications service was introduced in Ethiopia by Emperor Menelik II in 1894 when the construction of the telephone line from Harar to the capital city, Addis Ababa, was commenced.