Ethio Telecom Aims for Substantial Revenue Surge by June 2026
Ethio Telecom, Ethiopia’s leading telecommunications provider, is projecting significant financial growth over the next few years. CEO Frehiwot Tamiru has announced an ambitious target: a 45.5% increase in revenue by June 2026. This bold aspiration underscores the company’s strategic focus on expansion and capitalizing on the burgeoning digital landscape within the Ethiopian market, echoing the rapid advancements seen in other African tech sectors.
Driving Factors for Growth
The projected revenue surge is primarily fueled by two key drivers: expanding mobile internet usage and a growing customer base. Ethio Telecom anticipates a substantial increase in its user base, aiming to reach approximately 88 million subscribers by mid-2026, representing a 6% increase. Furthermore, the company is banking on the continued popularity of its mobile money platform, Telebirr. This service allows users to conduct financial transactions, including sending money, paying bills, and purchasing airtime, directly from their mobile phones. Telebirr’s user base is forecasted to grow by 14% by June 2026, significantly contributing to Ethio Telecom’s overall revenue goals and showcasing the crucial role of fintech in driving growth in the African telecom industry.
In summary, Ethio Telecom is positioning itself for considerable expansion, driven by the rising adoption of digital services and the success of its mobile money platform. This growth plan reflects the increasing importance of digital connectivity and financial inclusion in Ethiopia and across the African continent.
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