Ethio Telecom announced its financial results, revealing a significant increase in full-year revenue and net profit. The state-owned telecom attributed this success to its LEAD Growth strategy, which has driven an 8.9% increase in its subscriber base, now totaling 78.3 million consumers.
The telecom’s overall income soared by 21.7% compared to last year, reaching an impressive $1.6 billion (Birr 93.7 billion). This marks a $289 million (Birr 16.7 billion) increase from the previous year, achieving 103.6% of its target. These results highlight the company’s strong financial performance and effective strategic initiatives.
Ethio Telecom’s foreign exchange generation also saw a remarkable 20.7% increase, totaling 198.02 million US dollars and achieving 117.5% of its target. This growth underscores the company’s expanding global footprint and its ability to generate significant international revenue.
To ensure high service quality, Ethio Telecom has undertaken extensive network improvement projects, enhancing both capacity and coverage of its telecom and digital infrastructure. The 4G network was expanded to 966 new sites, while the 3G network saw growth at 682 locations.
As a result, 4G network services have been extended to an additional 124 cities and districts, raising the total number of 4G-enabled cities from 300 to 424. Furthermore, the number of 5G stations increased to 189, with 5G service now available in 4 regional capitals and plans underway to expand to 4 more cities.
Ethio Telecom’s robust growth and strategic advancements are paving the way for enhanced connectivity and digital inclusion across Ethiopia. This progress is a testament to the company’s commitment to providing top-notch telecom services and driving technological innovation in the region.
#EthioTelecom #TelecomGrowth #DigitalInclusion #4G #5G #NetworkExpansion #Innovation #EthiopiaTech #FinancialSuccess
