Ethiopia: Ethiotelecom Secures 162 Bln Birr Revenue in 2024/25 Fy

ADDIS ABABA — Ethiotelecom has announced that it secured 162 billion Birr in revenue during the 2024/25 fiscal year, achieving 99% of its target.

Briefing journalists yesterday at the Science Museum, Ethiotelecom CEO Frehiwot Tamiru stated that the company generated 162 billion Birr in revenue during the stated period.

According to her, the revenue reflects a 72.9% growth compared to the performance registered during the same period last year.

She added that some 193.1 million USD was generated from international services, achieving 101.8% of the target. In this regard, voice services contributed 28.6%, data and intranet 22.7%, international revenue 12.9%, value-added services 7.6%, device sales 5.4%, Telebirr 2.7%, enterprise solutions 6.2%, infrastructure sharing 2.2%, and other services accounted for 11.7%.

Regarding foreign currency generation, Frehiwot said 213.6 million USD was obtained this year, representing 84.3% of the performance target. This reflects an increase of 15.44 million USD (7.8%) compared to the same period last year.

"During the budget year, 193.11 million USD was generated from international services, with 66.6 million USD specifically from international transit traffic, 5.62 million USD from infrastructure sharing, and over 14.42 million USD through Telebirr's international remittance service. To sum up, 575.76 million USD in foreign currency has been generated over the past three years," she explained.

Frehiwot underlined that the company achieved significant growth in the fiscal year, reaching a total customer base of 83.2 million, which represents 100.2% of its target. This shows an increase of 4.84 million customers (6.2%) compared to the same period last year.

Throughout the growth strategy period, it was possible to create job and income opportunities for over one million citizens, according to the CEO.

The company also demonstrated its commitment to corporate social responsibility (CSR) during the fiscal year, contributing over 450.23 million Birr -- comprising 264.1 million Birr in-kind and 186.1 million Birr in cash. Of this total, 134.68 million Birr was allocated to education, 17.68 million Birr to health, 135.77 million Birr to humanitarian causes, 16.75 million Birr to environmental protection, green development, and beautification, and 145.35 million Birr to national projects.

Read the original article on Ethiopian Herald.