In the first half of 2024, Ethio Telecom paid taxes totalling ETB 23.74 billion to the government and repaid a foreign loan of ETB 1.8 billion (about $15 million), according to its 2024/2025 Semi-Annual Business Performance Report released on February 12.
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Completion of 202 mobile stations
In the first half of the fiscal year, 202 new mobile stations were completed and put into service in an attempt to grow its customer base.
Additionally, during these six months, 4.6 million more network capacity was created through mobile network expansion, bringing the overall network capacity up from 86.1 million to 90.7 million.
This has led to 10 more cities gaining access to 5G services and an additional 67 cities gaining access to 4G services.
A total of 171 domestic and foreign products and services were also presented; 62 of these were brand-new, and 109 were redesigned to help the society transition to the digital economy.
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Ethio Telecom’s target revenue of ETB 61.9 billion
The company achieved 90.7% of the target revenue of ETB 61.9 billion through the expansion of its products and services and various infrastructure expansions made to improve the quality and accessibility of mobile networks.
Reaching 63.8% of the target, it also generated $64.4 million in overseas service revenues.
“Our financial statement for the year ended in June 30, 2024 has been examined by external auditors and received unqualified auditors opinion indicating that the report is clean with no discrepancies,” the company claims.