Ethio Telecom Reports Impressive Financial Results in First Half of EFY
Ethio Telecom, Africa’s pioneer telecom provider, has announced its financial results for the first half of the 2024/25 Ethiopian Fiscal Year, reporting a remarkable revenue of 61.9 billion Birr. This significant achievement marks a 43 percent increase compared to the same period last year.
Financial Highlights
Ethio Telecom’s CEO, Frehiwot Tamiru, shared the company’s financial results, highlighting the success of its mobile money platform, Tele Birr, which facilitated transactions exceeding one trillion Birr. The company also achieved notable cost-saving successes, generating 3.5 billion Birr in savings through the expansion of efficient digital services.
Strategic Plan and Commitment to Excellence
The CEO underscored Ethio Telecom’s commitment to excellence and customer satisfaction, launching a three-year plan to achieve five key goals. Firstly, the plan aims to boost cost-effectiveness, improve service quality, and diversify income streams. Moreover, it seeks to create job opportunities and enhance global competitiveness. According to a National Bank of Ethiopia report, the company’s revenue surged 17.5 percent to Birr 33.3 billion in 2023/24. Meanwhile, total expenses plummeted 33.7 percent to Birr 8.6 billion annually.
Infrastructure and Digital Transformation
Ethio Telecom’s infrastructure drives the Digital Ethiopia initiative, powering governmental, non-governmental, and business sectors nationwide. Additionally, the company updates Telebirr to cater to customers’ changing needs and boost national economic gains. In 2019/20, it generated a total of 47.7 billion ETB (1.4 billion USD) in revenue, a 31.4 percent year-over-year surge. Meanwhile, its income continues to grow, fueling economic growth and development.
Network Expansion and Services
In the past six months, Ethio Telecom has made substantial strides in expanding its network coverage and services. The company extended wireless services to 202 new areas, contributed to the national ID project, and launched 5G network access in eight cities, while expanding 4G coverage to 67 cities. As of 2025, Ethio Telecom has 77 million mobile voice subscribers and over 80 million active customers across its various services. (Source: Ethio Telecom)
Services Remain Affordable and Competitive
Ethio Telecom offers services that are among the most affordable and competitive in Africa and globally, prioritizing innovation and social responsibility. Meanwhile, it drives progress in key sectors, including education, business, health, and agriculture, to boost socioeconomic growth. Furthermore, the company actively contributes to these areas, solidifying its commitment to improving lives and communities. By doing so, it generates significant profit, demonstrating its role as a leader in the telecom industry.
Innovation and Sustainability
Demonstrating its commitment to innovation, Ethio Telecom recently inaugurated an electric vehicle charging center, reinforcing its broader initiative to introduce advanced telecom systems in Ethiopia.
Ethio Telecom’s impressive financial results and commitment to operational excellence, customer satisfaction, and digital transformation position the company as a leader in Africa and globally, with a strong focus on innovation and social responsibility.
Source: ENA