State-owned telecom provider Ethio Telecom has announced its financial results for the first half of 2023, reporting a net profit of 11.3 billion birr (USD 202 million) for the period.
Revenues for July to December 2023 stood at 42.9 billion birr (USD 764 million), an increase of 26 percent compared to the same period last year. The company's mobile and internet connections expanded its customer base to 74.6 million subscribers by the end of December 2023.Â
Voice services accounted for 41 percent of total revenues, though data usage continued growing substantially. Ethio Telecom's internet subscribers now number 36.4 million.
