EthioTelecom

Ethiopia Set to Offer 10 Percent Stake of Ethio Telecom in Aprill

Ethiopia Set to Offer 10 Percent Stake of Ethio Telecom in Aprill

Prime Minister Abiy Ahmed recently convened with a group of esteemed businessmen, recognized as "honest" taxpayers, at his office to address pertinent economic concerns. These individuals sought clarification from Prime Minister Abiy Ahmed on various issues, including security challenges, foreign exchange shortages, tax relief, access to credit, policy inconsistencies, and the government's economic priorities. In response, Prime Minister Abiy outlined his administration's efforts over the past five years to bolster the economy and outlined future strategies. He acknowledged the inadequacies in tax collection, revealing that Ethiopia captures less than one percent of its generated wealth, despite projecting an annual production…
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Ethio Telecom Records 11 Billion Birr Net Profit in Six-Months

Ethio Telecom Records 11 Billion Birr Net Profit in Six-Months

Frehiwot Tamiru, the CEO of Ethio-Telecom, recently presented a performance report for the first half of the fiscal year 2016, highlighting significant achievements and advancements made by the company. Over the last six months, Ethio Telecom has demonstrated substantial growth and expansion in its operations. During this period, the telecom giant deployed 232 new mobile network stations across the country, enhancing its service coverage. The company also invested in building a robust infrastructure capable of accommodating an additional 1.9 million mobile network customers, contributing to a remarkable total customer base of 81 million. A notable aspect of Ethio Telecom's strategy…
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French Company withdrew from buying Ethio Telecom Shares

French Company withdrew from buying Ethio Telecom Shares

Orange, a prominent French telecom company, initially had aspirations to acquire approximately 45 percent of Ethio telecom's shares. However, the company ultimately withdrew from the deal, citing challenges in swiftly implementing their strategic ideas and achieving desired results. The backdrop of this decision is Ethiopia's ongoing evaluation of its telecommunications market, with the intention of introducing a third telecom service provider alongside the existing state-owned Ethiotelecom and Safaricom, which recently entered the market. In addition to exploring new market dynamics, Ethiopia is also in the process of divesting less than half of Ethiotelecom, attracting interest from international giants such as…
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The CEO of Ethio Telecom won the Young African Leaders Award

The CEO of Ethio Telecom won the Young African Leaders Award

Firehiwot Tamiru, the CEO of Ethio Telecom listed as among 100 young African leaders who play an important role in Africa's economic development by #Choiseul100Africa. "Choiseul 100 Africa" ​​is a study conducted by the Choiseul Institute, a French institution that identifies and recognizes 200 young African leaders aged 40 and under to bring Africa to a higher level of economic, social, and cultural development. In a statement about the award, the company said, "…we are very proud to realize that it is an encouraging recognition for the work and efforts we have done and are doing to accelerate digital transformation…
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Ethio Telecom launches 5G network service throughout Addis Ababa

Ethio Telecom launches 5G network service throughout Addis Ababa

Ethio Telecom has officially launched the fifth generation (5G) mobile service in Addis Ababa. The institute has previously launched the 5G mobile service in the selected parts of Addis Ababa and Adama at the pre-market test stage. The new service that launched today is in operations in 145 stations located in different areas of Addis Ababa. According to Ethio Telecom, the newly introduced 5G mobile network service have a speed of up to 10 gigabytes per second. It is also stated that 5G service is especially beneficial for sectors such as manufacturing plants, agriculture, and medicine that want to be…
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Ethio Telecom plans to earn 90 billion birr in 2016 fiscal year

Ethio Telecom plans to earn 90 billion birr in 2016 fiscal year

The CEO of Ethio Telecom, Frehiwot Tamru, announced the institution's plan for the 2016 fiscal year. According to the CEO, it is planned to earn 90.5 billion birr from general telecom services in the current fiscal year. The official added that the organization has plans to get 13 million new customers in the 2016 fiscal year, bringing the total number of customers to 92 million. Another goal of the institute is to increase Telebirr customers to 44.1 million, mobile voice service users to 75 million and Internet users to 41 million. In general, the institution has planned to increase the…
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Telebirr annual transaction surpasses to 680 billion birr

Telebirr annual transaction surpasses to 680 billion birr

The CEO of Ethio Telecom, Ferehiwot Tamiru, made a statement regarding the performance of the 2023 fiscal year. The CEO said that, Ethio Telecom earned a total income of 76 billion birr in the last financial year. The executive added that, 44 percent of the total revenue was obtained from voice packages and 23 percent from internet services. The institution has received $164 million from foreign exchange services. Ferehiwot added that, adding the number of cities that have received 4G telecom services has also increased to 164. The total number of Ethio Telecom customers has reached 72 million, of which…
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Ethio Telecom Earns 52 billion Birr

Ethio Telecom Earns 52 billion Birr

One of the biggest telecom companies in Africa, Ethio Telecom has earned more than 52 billion birr in the last nine months. The state owned organization presented its nine-month plan for the fiscal year to the House of Representatives. According to the CEO of the company, Frehiwot Tamru, said that, Ethio Telecom has earned 52 billion birr in the last nine months. The CEO also said that, the company has earned 103 million dollars in revenue from the services it provides from abroad customers. Due to a mechanisms that turning government and commercial institutions implement their payment system with Tele…
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Safaricom Ethiopia CEO Anwar Soussa leaves office

Safaricom Ethiopia CEO Anwar Soussa leaves office

Anwar Soussa came to Addis Ababa after Safaricom Ethiopia won an international tender to provide telecom services in Ethiopia. Anwar Soussa, who has been leading Safaricom Ethiopia since 2019, has resigned from his position, his company announced. However, Safaricom has not yet disclosed why Anwar Soussa leaves from his company. Safaricom, which started providing telecom services in Ethiopia a year ago, has announced that it has gained more than three million customers in a short period of time. Safaricom, which is serving customers by renting network services from Ethio Telecom, is not what the Ethiopian market expected. Safaricom appointed Ethiopia…
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Ethiopia grants mobile money license to Safaricom

Ethiopia grants mobile money license to Safaricom

National bank of Ethiopia grants mobile money license to Safaricom National Bank has announced that it will soon give license for mobile money transfer to Safaricom The National Bank has stated that Safaricom Ethiopia, which has obtained the first private telecom service license in Ethiopia, will soon be granted a license to provide mobile money transfer services. National Bank Governor Mr. Mamo Mehretu said that the government is taking various measures to modernize and strengthen the financial sector. He also mentioned that non-banking telecommunication companies, fintech and payment agents have been invited to participate in the payment service sector. Mr.…
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