Ethio Telecom’s full-year pretax profit up more than 80%
July 25th 2025
ADDIS ABABA, July 24 (Reuters) – Ethiopia’s state-owned Ethio Telecom reported sharply higher annual profit on Thursday, driven by an expansion of its network and more customers.
CEO Frehiwot Tamiru said pretax profit for the year ended June leapt more than 80% year-on-year to about 76 billion birr ($550 million).
The company, which the government is privatising as part of a wider liberalisation of the tightly-controlled Horn of Africa economy, held an initial public offering that closed early this year but sold only 10.7% of the shares on offer.
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