EthioTelecom, a cornerstone of Ethiopia’s telecommunications industry for over 130 years, has unveiled ambitious plans for the 2024/25 fiscal year, entering the third year of its LEAD growth strategy. While the company has played a pivotal role in the nation’s socio-economic development, its current focus shifts to accelerating Ethiopia’s digital transformation, with Telebirr mobile money services at the heart of its strategy.
Telebirr Expansion for Financial Inclusion
As a key component of its plan, EthioTelecom will further expand Telebirr, its mobile money platform, to enhance digital financial inclusion across the country. The company aims to increase Telebirr’s user base by 15.7%, reaching 55 million customers by the end of the fiscal year. Additionally, it plans to expand its network of Telebirr agents by 28% to 275,000 and increase merchants accepting Telebirr transactions by 102%, reaching 367,000.
Telebirr’s expansion supports key financial services, including local and international money transfers, e-commerce payments, and remittances, all while playing a significant role in narrowing the digital divide, particularly in underserved rural areas.
Supporting Ethiopia’s Digital Transformation
EthioTelecom’s broader strategy for 2024/25 emphasizes investments in both telecommunications and digital infrastructure. Plans include the construction of 1,298 new mobile sites and the introduction of 5G services in 15 additional cities, alongside expanding 4G services to 500 more cities across Ethiopia.
Beyond telecommunications, EthioTelecom will also enhance digital services by expanding cloud computing, upgrading data centers, and providing innovative digital solutions for sectors such as agriculture, health, and education. These initiatives will drive Ethiopia’s development into a digital-first economy, positioning businesses and institutions to contribute more efficiently to national growth.
Revenue Growth and Foreign Currency Generation
EthioTelecom is targeting a revenue increase of 74.7%, from 93 billion Birr to 163.7 billion Birr for the fiscal year. In addition to boosting domestic revenues, the company plans to generate $282.85 million in foreign currency by expanding international partnerships and remittance services.
Commitment to Social Responsibility and Workforce Development
EthioTelecom remains committed to corporate social responsibility (CSR), with plans to contribute to healthcare, education, environmental protection, and other humanitarian causes. The company will also invest in workforce development, offering digital skills training in areas like cybersecurity and data analysis, ensuring its employees are well-equipped to support the country’s digital transformation.
A Future Powered by Digital Solutions
As EthioTelecom continues its efforts to expand Telebirr and enhance Ethiopia’s digital economy, the company calls on stakeholders—including customers, business partners, and government entities—to support its vision for a more connected and digitally empowered Ethiopia. Through these initiatives, EthioTelecom is positioning itself as a leader in the nation’s ongoing digital revolution.
