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Ethio Telecom records rise in revenue amid pandemic

Ethio Telecom through its performance report showed that its revenue this year saw a 105.1 per cent boost over the company’s target for the year, which is an increase of 31.4  per cent compared to 2019.

The company, which is the only telecom company in Ethiopia last week announced that it had earned $ 1.3 billion in total revenue in the 2012 Ethiopian budget year which ran from July 1, 2019, to June 30.

According to the report, international services generated $147.7 million, a 107 per cent jump from the target and a five per cent rise from 2019.

During this fiscal year, the major payments the telecom made were $321 million in taxes and $113 million in dividends paid to the government. The telecom also paid $318.4 million towards projects carried out by Vender Financial Modeling,  payments which were never transferred to the next budget.

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