Ethio Telecom CEO Frehiwot Tamiru (pictured) revealed ambitions for the state-owned operator to almost double revenue at the end of its financial year in June to ETB236 billion (US$1.6 billion), on the back of increasing users and data usage.
Tamiru projected Ethio Telecom’s mobile subscriber base will grow 6% to 88 million, and mobile money platform Telebirr will increase 14% to 62.5 million in the 25/26 financial year. The mobile target equates to a total penetration rate of 77.2%.
The operator is planning to roll out a total of 327 products and services, along with 3.5 million customer devices to the Ethiopian market.
In its last financial year ending June, the operator recorded an 80% increase in pre-tax profit to ETB76 billion (US$550 million).
Ethio Telecom launched its initial public offering in early 2025, but only sold 10.7 million shares at ETB300 each, raising around US$24 million. The offering fell far short of its target to sell 100 million shares and raise ETB30 billion.
