Ethio Telecom has set a plan to reach 83 million subscribers and generate 163.7 billion Birr in revenue during the current Ethiopian fiscal year, CEO of the company, Firehiwot Tamiru revealed.
In her media briefing today, Ethio Telecom CEO Firehiwot Tamiru highlighted the company’s 2024/25 Annual Business Plan.
Among other things, Firehiwot mentioned the major plans of her company for the current fiscal year, which includes enhancing telebirr accessibility and digital financial inclusion, and empowering and supporting telecom and digital infrastructure and generating foreign currency.
In this fiscal year, the company aims to solidify its position as a leading provider of digital solutions, the CEO said.
‘By leveraging our existing telecommunications and digital infrastructure, we will drive our country’s digital transformation and enable it to compete on a global scale. Furthermore, we will continue to invest in expanding our telecommunications and digital infrastructure to deliver high-quality, custo
mer-centric services,’ Firehiwot explained.
According to her, this will enable the company to provide innovative digital solutions that empower individuals, businesses, and organizations to reach their full potential.
Ethio Telecom aims to grow the subscriber base by 6 percent, reaching 83 million customers in this fiscal year, she stated. In terms of revenue, it planned to raise its revenue from 93 billion Birr to 163.7 billion Birr, which has a 74.7 percent increment from last budget year.
With respect to infrastructure expansions, the company plans to build 1,298 new mobile sites to enhance telecom coverage and capacity, expanding 4G service to an extra 500 cities, introducing 5G service in additional 15 cities, it was indicated.
Firehiwot expressed the company’s commitment to building 331 rural connectivity solutions and 165 mobile network sites, totaling 496 sites, to extend network coverage to 1,000 rural kebeles which aims to narrow the digital divide between urban and rural areas by significantl
y expanding network infrastructure in rural regions.
With respect to telebirr, she said plans are in place to increase the number of telebirr agents by 28 percent, reaching 275,000.
Additionally, the number of merchants making telebirr transactions will grow by 102 percent reaching 367,000, and the number of telebirr customers will rise by 15.7 percent to reach a total of 55 million customers.
Furthermore, the plan aims at enhancing digital financial services, local digital money transfers, e-commerce payments, and international online transactions, and increasing the number of remittance partners by offering telebirr products and services that meet customer needs and add values, according to the CEO.
Ethio Telecoma also targets to generate 282.85 million USD in foreign currency during the fiscal year by expanding international strategic partnerships and delivering competitive services, she indicated.
Source: Ethiopian News Agency