In collecting ETB61.3 billion in revenue, Ethio Telecom credited its network and system expansion andoptimization works. In all, 67 new and 77 revamped local and international products and services were offered to the parastatal’s customers. The budget year of 01 July 2021 to 30 June 2022 saw the commencement of the three-year BRIDGE growth strategy. This strategy and new offerings are preparations for the upcoming competitive market.
The company’s income is 87.6Pct of the goal and an increase of 8.5Pct over the last budget year.
“Had it not been for the crisis in the North region as well as in some other parts of the country, which have resulted in service outages in 3,473 sites, the targets would have been met,” explained Frehiwot Tamiru, CEO of Ethio Telecom.
Broken down by service type, mobile voice revenue accounts for 51Pct, data and internet 27Pct, international business 10Pct, value-added services 5.7Pct, and other services 6.6Pct. During the period, USD146.6 million was generated in foreign currency, scoring 82.3Pct of the target. The annual business performance summary report also states that, with the help of its cost optimization plan (DO2SAVE), Ethio Telecom was able to save more than ETB5.4 billion.
In addition, Frehiwot pronounced that entire subscriber count increased by 18.4Pct to 66.59 million, or 104Pct of the targeted subscriber base with telecom density now reaching 63.3Pct.
In the reporting period, the company paid ETB18.8 billion tax and ETB500 million dividend.