Ethio Telecom Marks 80% Profits Surge

Ethio Telecom marks 80% profits surge

Ethiopia’s state-owned Ethio Telecom reported that its annual pretax profit shot up by more than 80% year-on-year to $550 million. Frehiwot Tamiru, the mobile operator’s CEO, attributed the surge to an increase in customers: The total number of subscribers rose 6.3% to 83.2 million during the year, she told reporters.Earlier this year, Ethio Telecom sold only 10.7% of shares in a lackluster initial public offering aimed at boosting investment in…

Telecom news: Ethio Telecom, India’s PLI scheme, TRAI drive tests in Hisar - TelecomLead

Today’s telecom news includes announcements on Ethio Telecom, India’s telecom PLI scheme, TRAI Drive Tests in Hisar, among others. IHS telecom towers Ethio Telecom’s Profit Soars Over 80% Driven by Network Growth and Mobile Money Expansion Ethiopia’s state-owned telecom operator, Ethio Telecom, reported an over 80 percent increase in its annual pretax profit, reaching approximately 76 billion birr ($550 million) for the year ending in June. The …