Ethio Telecom’s financial performance in the first half of the 2024 fiscal year has been robust, highlighted by an EBITDA of 32.82 billion ETB, reflecting a profitability margin of 55.6%. The company also reported 61.9 billion ETB in total revenue, achieving 90.7% of its target. In addition to solid revenue from its core operations, Ethio Telecom generated $72.6 million in foreign exchange earnings—$67.36 million from international services and $5.24 million from Telebirr’s international remittance services. The company demonstrated fiscal responsibility by paying 23.74 billion ETB in taxes and repaying $15.4 million in foreign loans.

As part of its cost optimization strategy, Ethio Telecom’s DO2SAVE initiative saved 3.5 billion ETB, exceeding its target by 44%. The company also made significant strides in cybersecurity, blocking 266,162 attempted cyberattacks through advanced control mechanisms. Its human resource development efforts were notable, with 26,505 employees receiving training, achieving a 93% success rate in training goals—demonstrating its commitment to building a skilled workforce aligned with its growth objectives.

On the operations side, Ethio Telecom achieved substantial growth in its subscriber base, reaching 80.5 million users, a 7.9% increase compared to the same period last year. This includes:

The company’s telecom density in Ethiopia now stands at 72.2%, signaling progress in expanding connectivity nationwide.

Ethio Telecom continued investing in infrastructure to enhance service quality and accessibility. The company deployed 202 new mobile stations, bringing its total mobile network capacity to 90.7 million. Its 4G and 5G networks expanded, with 4G services reaching 67 new cities and 5G connectivity arriving in 10 cities. Additionally, the company established 81 rural mobile network sites across 71 woredas, extending services to underserved areas and bridging the digital divide between urban and rural communities.

The company’s optical distribution network (ODN) capacity also grew, adding 133,672 new customer connections, bringing the total to 769,932. As part of its Copper Switch-off Initiative, 18,300 customer connections were migrated from copper to fiber, advancing Ethiopia’s digital transformation.

During the reporting period, Ethio Telecom introduced 171 new and revamped products and services, including 62 new offerings and 109 upgrades. These innovations aim to enhance customer experience, simplify enterprise operations, and support Ethiopia’s digital economy. The company also expanded its service network by opening 68 new service centers, bringing the total to 1,000—with 513 franchised and 487 company-owned locations. Its distribution network also strengthened, comprising 64 main distributors, 43 virtual top-up distributors, 12,700 sub-distributors, and 290,600 retailers engaged in sales activities.

Ethio Telecom remained committed to corporate social responsibility, contributing 287.2 million ETB to education, healthcare, environmental protection, and national projects. Additionally, it planted 446,000 seedlings as part of its Green Legacy program, reinforcing its commitment to environmental sustainability. The company also earned international certifications, including ISO 27001:2022, PCI DSS, and Cloud Security Alliance (CSA) for its Telebirr and Telecloud services, reaffirming its leadership in digital solutions.

Ethio Telecom’s impressive performance in the first half of the fiscal year underscores its pivotal role in Ethiopia’s digital transformation. The company’s continued investment in infrastructure, service expansion, and innovation positions it as a driving force in the country’s journey toward a digital economy. With its ongoing contributions to social and economic development, Ethio Telecom remains a key player in Ethiopia’s progress.