KEYIR NEWS - Ethio telecom has announced a remarkable performance in the recently concluded Ethiopian fiscal year, reporting total revenue of 162 billion birr, achieving 99% of its annual target.
The state-owned telecommunications giant revealed that this figure represents a substantial 72.9% growth compared to the same period in the previous fiscal year. The surge in revenue was attributed to a combination of strategic business interventions, infrastructure expansion, and aggressive efforts in customer acquisition and retention.
In its performance statement, Ethio telecom stated that the success is the result of implementing diverse business options, increasing our customer base, and strengthening our robust infrastructure, which has been a key area of investment over the past few years.
Beyond local currency earnings, Ethio telecom also reported significant progress in its foreign exchange generation, earning a total of USD 213.6 million, which accounts for 84.3% of its annual forex revenue target. This performance marks a 7.8% increase, or USD 15.44 million, compared to the previous fiscal year.
Breaking down the foreign currency income amount of USD 193.11 million came from international service, while USD 66.6 million was generated through international transit traffic. In addition, USD 5.62 million was earned via infrastructure sharing agreements, and over USD 14.42 million entered the country through Telebirr’s international remittance service.
These figures signal the growing role of Ethio telecom in the foreign currency earnings landscape. Telebirr, the company’s mobile money platform, has been instrumental in enabling diaspora remittances and expanding digital financial inclusion.
Ethio telecom’s continued expansion of telecom infrastructure, especially into rural and previously underserved areas, has also been a critical driver of growth. With increasing demand for digital connectivity and mobile financial services, the telecom operator is positioning itself as a major player in the digital transformation agenda.
Analysts observe that despite rising competition from new entrants into the telecom sector, including Safaricom Ethiopia, Ethio telecom has managed to maintain market leadership through product diversification, wide network coverage, and early investment in mobile money and digital services.
The company’s performance is expected to bolster its ongoing preparations for partial privatisation, as part of the government’s broader economic reform and liberalisation strategy. With the telecom sector identified as a key pillar of economic development, Ethio telecom’s growth trajectory remains under close watch by investors and development partners.
As Ethiopia continues to modernise its digital economy and enhance financial inclusivity, Ethio telecom’s performance underscores the potential of telecom-driven development and the strategic importance of efficient public enterprises in national transformation.