Despite facing stiff competition from its competitor, Safaricom, the new entrant, the state-giant ethio telecom still hopes to see an increase in its profit this year.
It targets to earn 75.05 billion birr (1.3 billion dollars)Â this year, a 22.4 percent increase from last year.
A part of its new strategy, dubbed LEAD, the moves coincided with the end of its century old monopoly in the sector, which has ended with the joining of Safaricom with 850 million dollars investment for a license alone.
"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 percent of its target," said Frehiwot Tamiru, CEO of ethio telecom.
The CEO also hopes to subscriber base by 10.3 percent to reach 73.5 million and increase mobile voice customers by 10.5 percent to reach 71 million by the end of this fiscal year.
