Ethio Telecom ‘to increase subscribers 10%’ in a year, says CEO Frehiwot
Ethio Telecom is aiming to increase its subscriber base by more than 10% over the next year, despite facing competition from Safaricom Ethiopia.
The company’s CEO, Frehiwot Tamru (pictured), said that Ethio Telecom plans “to increase our subscriber base by 10.3% to reach 73.5 million and increase our mobile voice customers by 10.5% to reach 71 million” in the current financial year.
Ethio Telecom also aims to increase the number of fixed broadband customers by 37.4% to reach 696,700 and increase tele-density by 68%.
The company intends to generate 75.05 billion birr (US$1.41 billion) in revenue, an increase of 22.4% on the previous financial year, “by engaging in new business streams and shifting revenue source from traditional to value-added services, offering local and international products and services to the market”.
Frehiwot was speaking at Ethio Telecom ended its previous three-year development plan, called Bridge, and started another, called Lead.
“It has been two months since our company started implementing its newly devised Lead strategy, and in the first two months it already has achieved 98% of its target,” she said.
Ethio Telecom is gradually seeing the end of its monopoly, as Safaricom Ethiopia ramps up its services in a number of cities. It hopes to be active in 25 cities between now and April 2023.
In the current fiscal year – which is numbered 2015 in the Ethiopian calendar, Ethio Telecom said it “plans to make multifaceted efforts to provide quality services that increase customer satisfaction and improve experience, especially through network and system capacity enhancement and improvement projects to secure the company’s market share, as well as new technologies to provide services”.
As well as expanding 3G and 4G, it wants to expand “pre-commercial” 5G and boost capacity on the backhaul and transport network. It also plans to improve fixed broadband capacity as well as mobile money and digital financial services, cloud services.