Ethiopia's sole telecom services provider Ethio Telecom amassed a profit of over $686 million (22.04 billion birr) in the first half of the fiscal year 2019/20, the company announced.
In a tweet, Ethio Telecom noted that this is 104 percent of the set target for the six months period.
“Registering 104 percent business performance in half a year is historic to Ethio Telecom, which [alone] registered about 80 percent of its plans in very few years,” Frehiwot Tamiru, CEO of Ethio Telecom said during a press briefing.
Ms. Frehiwot pointed out that $73 million was generated in foreign currency from international business, which has increased by 116 percent from the same period of the last budget year.
The CEO attributed the improved performance to reforms in system, structure, human power capacity building and efficient mobilization as well as efficient usage of resources. These, she pointed out, helped solve some challenges and contributed to the achievements of the company.
Regardless, Ethio Telecom faced frequent challenges of power outage, internal and external telecom frauds, it was pointed out.
Thanking its customers, the company has offered a free daily internet package of 200MB 15 to 17 January 2020.
Sources: Ethio Telecom (Twitter), ENA)
Image Source: Ethio Telecom (Twitter)