Ethio telecom generates total revenue of 93.7B Birr during concluded Ethiopian FY

Addis Ababa, July 10, 2024 (FBC) – Ethio Telecom, Ethiopia’s leading telecommunications provider has released its annual performance report for the 2023/24 fiscal year, showcasing impressive growth across key metrics.

The report, covering the period from July 1, 2023, to June 30, 2024, highlights the company’s continued success in expanding its digital services and strengthening its market position.

Ms. Frehiwot Tamiru, CEO of Ethio telecom has released major performance metrics today.

According her, Ethio Telecom has generated a total revenue of 93.7 Billion Birr  marking a 21.7 percent increase from the previous year.

The revenue registered during the concluded fiscal year shows an increment of 16.7 billion Birr compared to the previous year.

The company’s foreign exchange generation has shown a 20.7 percent increase from last year reaching a total of 198.2 million USD achieving 117.5 percent of its target.

Regarding subscriber Base, Frehiwot said the company’s total subscribers reached 78.3 million, achieving a 100.4 percent of its target for the year, as called by ENA.

Regarding mobile money transfer Telebirr, Ethio Telecom’s mobile money service, now boasts to 47.5 million subscribers, with a total transaction value of 1.81 trillion Birr.

Frehiwot expressed satisfaction with the company’s performance: “Driven by customer demand and prioritizing customer satisfaction in the dynamic telecom market, we have quadruped  our net profit in the last six years, solidifying our position as a leading an trusted service provider.”