ADDIS ABABA, July 28 (Xinhua) — Ethiopia’s state-owned Ethio-Telecom company on Thursday disclosed it earned 61.3 billion birr (about 1.17 billion U.S. dollars) during the Ethiopian 2021/2022 fiscal year that ended on July 7.
Ethio-Telecom said in a press statement that the 2021/2022 fiscal year revenue showed an increase of 8.5 percent when compared to the 2020/2021 fiscal year.
The state-owned telecom firm said the last fiscal year’s revenue increase was achieved through network and system expansion as well as optimization work to enhance customer experience and satisfaction.
Ethiopia is undertaking extensive telecom modernization services with the help of Chinese firms as part of the east African country’s aim of realizing digital inclusion and boosting the size of its digital economy, with the provision of reliable, high bandwidth and high-speed telecom services.
Ethio-Telecom also said the crises in various parts of Ethiopia have resulted in service outages in 3,473 sites, affecting the total revenue target of the firm in the 2021/2022 fiscal year. Its 61.3-billion-birr revenue in the 2021/2022 fiscal year only met 87.6 percent of the total revenue target for the stated period. ■