Ethio telecom generated 85 billion Birr in revenue over the first half of the fiscal year, which also saw transactions valued at nearly two trillion Birr conducted through the state-owned operator’s Telebirr mobile money platform.
While Ethio telecom’s reported revenue is substantial (37 percent higher compared to the same period last year), it falls short of the 105 billion Birr target set by CEO Frehiwot Tamiru and her management team.
Voice and data revenue streams together accounted for nearly 59 percent of reported income, while international revenue, value-added services, telecom equipment sales, and infrastructure rental made up 26 percent.
Ethio telecom generated USD 88 million in foreign currency during the reporting period.
Meanwhile, the state-owned giant raked in 4.1 billion Birr in revenue from its widely-used Telebirr mobile platforms, exceeding its performance target by nearly 10 percent.
A report from Ethio telecom puts Telebirr’s revenue growth down to price revisions, new fees, a jump in intra-platform transfers, strengthened links with banks, and “successful collection of overdue Telebirr loan service revenue.”
Telebirr has facilitated transactions valued at nearly seven trillion Birr since its launch in May 2021.
