Ethio Telecom recently reported an increase in full-year revenue and net profit as the state-owned telecom company announced its financial results.
Ethio Telecom’s LEAD Growth strategy has proven successful, leading to an 8.9% increase in its subscriber base over the same period last year. This growth, reaching 78.3 million consumers, surpassed the company’scompany’s target by 100.4%.
Ethio Telecom’s financial performance has been robust, with an overall income increase of 21.7% compared to last year. This growth, reaching US$ 1.6 billion, exceeded the company’scompany’s target by 103.6%.
“Our foreign exchange generation has shown a 20.7% increase from last year, reaching US$198.02 million, achieving 117.5% of our target,” said the telco.
During the year, the company also stated that efforts were made to strengthen the capacity and coverage of the telecom and digital infrastructure through a series of network improvement projects to assure service quality.
The 4G mobile network was expanded at 966 sites, while the 3G network was expanded at 682 locations.
As a result of these efforts, the 4G network service has been extended to an additional 124 cities and districts, increasing the total number of accessible 4G cities from 300 to 424.
During the year, the number of 5G stations was increased to 189 through the expansion of the 5G network at 79 mobile stations.
Additionally, 5G service is now available in 4 regional capitals, with implementation work underway to make four more cities 5G-ready, said the company
