Ethiopia's Ethio Telecom Earns Over 16Bln Birr in Half a Year

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Ethio-Telecom-logoThe sole telecom service provider in Ethiopia, Ethio Telecom, said it earned birr 16.71 billion in the first half of Ethiopian fiscal year, which is from July to December 2018.

This amounts to an astounding 80 percent of its target for the whole year, which has been set at birr 20.86 billion. Out of the total earning, mobile revenue accounted for 63 percent, while earnings from data and internet services contributed 28.7 percent, and earnings from services to international businesses were 5.5 percent of the total.

In its statement, Ethio Telecom disclosed that its earnings before the reduction of interest, tax, depreciation and amortization were birr 11.8 billion, amounting to 91 percent of the targeted birr 13 billion. In the mentioned period, the company has paid to the government birr 4 billion in taxes.

The stellar achievement of the company in the first half of the fiscal year also extended to increasing its total customer base, which reached 41.1 million out of the targeted 44.91 million for the year, with a 91.5 percent rate of achievement.

In a country where telecom density has reached 43 percent, Ethio Telecom has 39.54 million mobile services subscribers, 19.49 million data and internet users, 1.14 million fixed services subscribers and 426,000 data and internet only subscribers.

According to the statement, total customer base has reached 41.1 million which is 91.5% achievement from the targeted 44.91 million, while mobile voice subscribers are 39.54 million, data and internet (data & internet only) 426,000 and fixed services 1.14 million. Data and internet users are 19.49 million.

Source: Fana BC

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