Ethiopia’s Ethio Telecom posts 8.5% rise in annual revenue

NAIROBI: Ethiopia’s Ethio Telecom posted an 8.5% rise in revenue to 61.3 billion birr ($1.18 billion) in the year to June 30, the state-run company said on Thursday.

Subscribers to Ethio Telecom’s financial service, known as Telebirr, launched in May last year, have grown to 21.8 million out of its 66.6 million total subscribers.

Ethio Telecom’s 4G network, which previously covered only the capital Addis Ababa, now covers 136 cities and towns, with 5G services launched in six mobile stations in the capital, it said.