Unveiling the company’s half-year performance report on Thursday in Addis Ababa, capital of Ethiopia, Ethio Telecom Chief Executive Officer Frehiwot Tamiru said the revenue has seen a 37 percent growth compared to the same period last year, driven by rapid growth in data consumption and mobile money transactions.
“The growth is not linked to price adjustment, but the rise in data traffic,” Tamiru said, noting that data usage of customers surged 46.6 percent during the period.
According to Tamiru, the state-run telecom operator has aggressively engaged in the expansion of its network, extending 4G LTE services to an additional 133 towns, bringing the total number of 4G-covered towns across the nation to 1,069.
The progress demonstrates the company’s commitment to linking hinterlands with modern technology, he said.
Despite the strong performance, Tamiru said foreign exchange shortage remains a challenge for the company to expand infrastructure facilities.
Mobile money service has played a key role in advancing financial inclusion and driving growth with Telebirr, the company’s flagship mobile money platform, serving more than 58 million customers and facilitating transactions valued at about 1.9 trillion birr in the half-year.
