Ethio Telcom Secures $633 million in Six-month Revenue

ADDIS ABABA – The state-owned Ethio Telecom has secured 33.8 Billion Birr (or 633 million US Dollars) in revenue in the first half of the 2022/23 Ethiopian fiscal year, achieving 96% of its target.

CEO of Frehiwot Tamirat said the revenue has shown a 19.9% ($105 million) increase from the same months last year.

Mobile voice, and Data and Internet services brought in much of the earnings to the telco, accounting for 47.4% and 28% shares of the total revenue, respectively

The remainings come from International business 8.4%, Value Added Service 6.5%, infrastructure 2.2%, and other sources 7.5%.

the telco also secured $64.8 million in foreign exchange which was generated from international business, attaining 90% of its plan.

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