Ethio Telecom Targets 295 Billion Birr Revenue for 2019 Fiscal Year

Ethio Telecom has unveiled its annual business plan for the 2019 Ethiopian fiscal year, projecting a total annual revenue of 295 billion Birr, which marks a 36.7 percent increase compared to the previous year. CEO Frehiwot Tamiru presented the targets under the company's 'Lead the Future: Digital and Beyond 2028' strategy, which aims to transition the operator into a full-fledged technology company. Digital and related business operations are expected to generate 77.45 billion Birr, while foreign currency revenue is targeted at 253.7 million USD. The state-owned enterprise aims to expand its subscriber base to 96.2 million, including 60.01 million mobile data users. Network infrastructure plans include increasing 4G coverage to 95 percent of the population and expanding 5G services to 73 cities across 648 sites. Additionally, Telebirr aims for 67.69 million users and a 7.4 trillion Birr transaction volume, alongside plans to distribute 2.6 million connectivity devices. Ethio Telecom also plans to pay 43.1 billion Birr in dividends and contribute 83.8 billion Birr in taxes.