Ethiopia’s state telecom generates US$1.29 billion revenue

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Telcos
Telcos

Ethiopia’s state telecom monopoly, Ethio-Telecom on Tuesday said it had generated revenue equivalent to about 1.29 billion U.S. dollars during the just-concluded 2020/2021 Ethiopian fiscal year that ended on July 7.

Frehiwot Tamiru, CEO of Ethio-Telecom, said while presenting the state telecom service provider’s end of year performance report that the number of total subscribers reached 56.2 million, registering an increase of 22 percent as compared from last year.

In May this year, the East African country had launched a mobile money service, dubbed Tele-Birr, which was developed by the Chinese tech giant Huawei.

Tamiru said the Tele-Birr mobile money service solution, which took five months to develop and complete, has now reached a total number of more than 6.58 million users in just two months. Enditem

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