More Africa NewsEthio Telecom announces several actions to record annual income of $ 1.5 billion

August 24, 2021by myles0

2022 and the years to follow promise to be tough on the Ethiopian telecoms market. With the state monopoly gone, Ethio Telecom will have to exercise good judgment to remain profitable. The growth ambitions of the public company will be confronted with those of new competitors.

Facing the press on Thursday August 19, Frehiwot Tamiru, CEO of Ethio Telecom, announced several strategic actions with the aim of recording an annual income of 70 billion birr (1.5 billion USD) . Several investments are planned for this purpose to strengthen telecoms infrastructure, without forgetting the quality of service, flexibility and accessibility. The introduction of 176 new local and international telecom service packages is also planned to enhance the customer experience.

Through this series of investments, Frehiwot Tamiru wants to attract new customers and increase the subscriber base of the public company from 56.2 million customers to 64 million. It is this growth in consumers and consumption that will guarantee Ethio Telecom to achieve the financial objective set.

By January 2022, the Ethiopian telecoms market will no longer be the exclusive preserve of Ethio Telecom. Safaricom, which obtained a telecoms license there, plans to officially start its activities in December. By observing its behavior in Kenya, it is evident that the new competitor will deploy an aggressive strategy of conquest to dethrone the incumbent operator.

The investments made by Ethio Telecom are therefore a response to the looming trade war. The company is in fact taking all its steps to consolidate its current position. She is well aware of Safaricom’s strength and the potential it can deploy in terms of innovation.

Source: Agence Ecofin

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