Browsing: Ethio Telecom

Safaricom Ethiopia
  • Safaricom targets a customer base of at least 10 million across 25 cities in the next year.
  • Since Safaricom Ethiopia switched on its mobile telecommunications network, it has grown coverage from an initial 11 to 22 cities.
  • Safaricom Ethiopia is building a wholly-owned mobile network and also has infrastructure sharing deal with state-owned Ethio Telecom.

Safaricom is now targeting a customer base of at least 10 million in Ethiopia in the next one year. The move is tailored to shake up the country’s telecommunication industry. (nelsongreerpainting) Latest developments follows huge investments in the country, with cash transfer service M-PESA now on the table.

Since Safaricom Telecommunications Ethiopia switched on its mobile telecommunications network and services in Addis Ababa in October last year, major inroads have been made in the second-most populous country in Africa.

It has grown coverage from an initial 11 cities when it launched to 22. …

Ethio-telecom launches mobile money service

Ethio- telecom launched a  service called ‘Telebirr’ as it seeks to boost growth by offering cashless transactions in Ethiopia.

Telebirr will allow ethio-telecom’s customers to send, store and receive money using their phones. The mobile money service aims to extend mobile services to areas that have been financially excluded.

With just 19 commercial banks which serve a population of 115 million, Telebirr will bridge the financial gap to those who do not have access to banks in Ethiopia.

The CEO of Ethio telecom, Frehiwot Tamiru said that within its first year of operations, the telecom plans to recruit 21 million users and 33 million in five years. She added that by the end of the five years, Ethiopia’s annual economic output of about 40 to 50 percent will be transacted on the platform.

The telecom has 1600 agents onboard already and will increase to more than 15,000 within 12 …

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.

Also Read: Vodacom, Safaricom

Safaricom eyes stake in Ethiopia's Ethio Telecom - The Exchange

Safaricom, leading communications company in Kenya is eyeing a stake in Ethiopia’s State-owned Ethio Telecom.

Ethio Telecom has announced the sale of shares through a privatisation plan.

Safaricom’s interim CEO, Michael Joseph said that Safaricom is considering buying a stake in the world’s largest telecoms monopoly or might consider setting a shop in Ethiopia from scratch.

Michael Joseph’s comments came when the Ethiopian authorities launched the search for an adviser on the sale of a stake in its national operator. The company is opening the country’s telecoms market to foreign investment for the first time.

Ethio Telecom’s has a subscriber base of 44 million makes it the biggest single-country customer base of any operator in Africa. Ethio Telecom last year generated revenues of about $1.2 billion, which is nearly half the Sh250.9 billion that Safaricom posted in the year to March.

Safaricom’s cash at bank stood at Ksh20 billion …