Ethio Telecom has announced plans to secure Birr 163.7 billion in revenue for the 2024/25 Ethiopian fiscal year, marking a significant 74.7% increase from the previous year’s Birr 93.7 billion. CEO Frehiwot Tamiru outlined the ambitious goal while presenting the company’s annual plan.

The state-owned telecom giant aims to expand its subscriber base by 6%, reaching 83 million users. To support this growth, the company is investing USD one billion in telecom and digital infrastructure projects. Ethio Telecom also plans to boost foreign currency earnings by 42%, targeting USD 198 million by the end of the fiscal year.

A key part of the strategy focuses on enhancing the popular telebirr mobile money platform. The company plans to increase telebirr agents by 28%, reaching 275,000, while the number of merchants will grow by 102%, hitting 367,000. Telebirr customers are expected to rise by 15.7% to 55 million.

Ethio Telecom is also expanding its rural connectivity, aiming to build 496 new network sites to improve coverage in 1,000 rural kebeles. The company’s broader strategy is to boost telecom density, advance digital and financial inclusion, and drive Ethiopia’s digital transformation.

Source: The Ethiopian Herald