UPDATE: Ethiopia Telecom reports a 12% increase in revenue for the first half
Posted byJanuary 22, 2021
State-owned company Ethio Telecom, which is expected to be partially sold as Ethiopia liberalizes its economy, reported a 12% increase in revenue from the first half to the end of December to 25.6 billion birr (650 million dollars), he said Thursday.
The government said last year that it will maintain a 55% stake in Ethio Telecom, with 40% in international companies and the rest in local investors.
Ethio Telecom said mobile voice services contributed 49% of revenue and data services with 26%.
The company plans to launch mobile money services soon, he said, but did not give a deadline.
In June, the telecommunications regulator said it had received 12 bids for two telecommunications licenses that the government plans to award to multinational companies.
The regulator has not given a deadline to grant the licenses.
Ethiopia’s telecommunications industry is seen as the grand prize in a bid to liberalize the economy as a protected market that serves more than 110 million people.
($ 1 = $ 39.3650)
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