Ethio Telecom Surpasses Targets with Strong Growth in Fiscal Year 2023/24

Ethio Telecom announced surpassing its targets for the fiscal year 2023/24, marking a year of remarkable growth and success.

Throughout the budget year, Ethio Telecom has been at the forefront of delivering impactful products and services that contribute significantly to Ethiopia’s overall development agenda. Addressing critical societal issues and enhancing the telecom experience for both individual and enterprise customers has been pivotal in boosting the country’s competitiveness on the global stage.

Key achievements include an 8.9% increase in the subscriber base, reaching an impressive 78.3 million customers, surpassing targets by 100.4%. This growth underscores Ethio Telecom’s commitment to meeting the growing demand and expectations of its diverse customer base.

Financially, Ethio Telecom reported a robust total revenue of 93.7 billion birr, marking a substantial 21.7% increase from the previous year and exceeding targets by an outstanding 103.6%. This achievement represents a significant growth of 16.7 billion birr year-over-year.

In foreign currency earnings, Ethio Telecom generated 198.02 million US dollars, exceeding expectations by 117.5%. This remarkable performance reflects a notable 20.7% increase compared to the same period last year, highlighting Ethio Telecom’s strong financial health and operational efficiency.