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HomeEthiopian NewsEthio Telecom reported 75.8 billion birr revenue 

Ethio Telecom reported 75.8 billion birr revenue 

Ethio Telecom’s net profit saw a surge this year. Financial services among the factors in the increase in revenue 

Ethio Telecom Revenue
Firehiwot Tamiru, CEO of Ethio Telecom, reporting over 75.8 billion birr revenue ( that is about $US 1.3 billion) (Photo credit : Ethio Telecom)

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Ethio Telecom on Tuesday announced that it has achieved goals of the business plan for the 2015 Ethiopian fiscal year ( 2022 -2023 ). It rated its business plan success as 101 percent. 

It reported a total of 75.8 billion birr in revenue. The revenue is said to have gone up by 23.5% compared to the revenue of last year, the same period. Increasing revenue streams is the explanation that Ethio Telecom gave for the rise in the amount of revenue this year. 

In a statement it shared on social media, the state-owned telecom giant said “In this budget year, our company generated a total of 75.8 Billion ETB in revenue and achieved 101% of its target through expanding its revenue sources which shows a 23.5% increment compared to previous year same period. It also generated 164.1 Million USD from foreign currency generating services (international interconnect, roaming, infrastructure share and international remittance) achieving 107.8% of its target.” 

It also said it has registered  a “51.2% in Earnings Before Interest, Tax, Depreciation and Amortization by increasing its revenue and instilling cost-saving practices and culture.”

In terms of net profit from revenue, Ethio Telecom claimed that the net profit margin has reached 25 percent. 

Ethio Telecom Revenue
Ethio Telecom employees are seen with the CEO, Firehiwot Tamiru (Photo : Ethio Telecom)

It is not just the revenue that saw remarkable growth based on the claim from the company. The profit margin saw a 109 percent growth compared to the same period last year. 

New products like Tele Birr and other money transfer services, including international ones, have contributed to the increase in revenue this year. 

Government-imposed internet restrictions since February 2023 are said to have negatively impacted business operations of Ethio Telecom. The CEO, Fire Hiwot Tamiru, spoke about it when she appeared at the Ethiopian Parliament last week. 

Ethio Telecom, which has now well over 30 million subscribers across the country, extended gratitude to its clients. 

It was the only telecommunication service provider until Prime Minister Abiy Ahmed’s administration sold its Telecom license to Safaricom a few years ago. 

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1 COMMENT

  1. This is another government owned company managed by one of our natural born genius women. Thank Almighty it is not being led by a man. Ministry of Health is the other one. This justifies my done-deal conviction that it is time for our glorious women to take charge. Let them show us men how the country is supposed to be run for the next 100 years. Okay misogynists! If you don’t like my comment you know that vast body of water called Red Sea. Go there and jump in it and don’t dare think about coming up. Stay there in the deep end and rot until the Judgment Day. Get lost!!!!

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