Ethio Telecom Q1 revenue falls 12% short of target because of conflict

Wednesday 17 November 2021 | 10:09 CET | News
Ethio Telecom lost ETB 1.9 billion in revenue due to the conflict in the northern part of the country and as a result, its revenue for Q1 of the 2021/22 Ethiopian fiscal year fell 12 percent short of its planned ETB 15.4 billion, reports The Reporter. Gross profit amounted to ETB 5.9 billion, which is ETB 1.1 billion beyond its plan for the quarter. Its foreign currency revenue plan from international services stood at 90 percent of the USD 34 million targets.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Categories: Mobile & Wireless
Companies: Ethio Telecom / Safaricom
Countries: Ethiopia
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Ethio Telecom plans fixed broadband discount of up to 45% in January

Published 27 Dec 2021 13:56 CET | Ethiopia
Ethio Telecom is preparing to offer fixed broadband internet service at a special discount of up to 45 percent from 01 January, ...

Thunes partners with Ethio Telecom to enable cross-border mobile money transfers

Published 25 Nov 2021 09:56 CET | Ethiopia
Thunes has announced a partnership with Ethio Telecom to enable its more than 11 million Telebirr mobile money users to receive ...

Ethiopian regulator urges Safaricom to expedite roll-out despite conflict

Published 24 Nov 2021 10:48 CET | Ethiopia
The Ethiopian Communications Authority (ECA) has called on Kenyan operator Safaricom to step up plans to launch commercial ...

Safaricom still plans to launch operations in Ethiopia in mid-2022 despite unrest

Published 11 Nov 2021 10:26 CET | Ethiopia
Kenyan operator Safaricom is confident of its plans to launch commercial operations in Ethiopia in June 2022, amid unrest there. ...

Safaricom evacuates staff from Ethiopia amid unrest

Published 09 Nov 2021 11:17 CET | Ethiopia
Kenyan operator Safaricom has evacuated some of its employees from Ethiopia because of armed conflict and civil unrest that could ...

Ethio Telecom prepares to launch international remittance service

Published 29 Sep 2021 10:56 CET | Ethiopia
Ethio Telecom is finalising preparations to launch international remittances via its Telebirr mobile money service, according to ...

Ethio Telecom says Telebirr transactions exceed ETB 1 bln, reaches 10 mln customers

Published 28 Sep 2021 13:17 CET | Ethiopia
State-owned Ethiopia Telecom says the amount of money transacted through its mobile money system Telebirr, surpassed ETB 1 ...

Ethio Telecom launches 4G advanced service in West Region

Published 21 Sep 2021 10:26 CET | Ethiopia
State-owned operator Ethio-Telecom has launched LTE Advanced Service in its West region, in cities such as Nekemte, Shambu, Bako, ...

Ethio Telecom plans to earn ETB 70 bln from new services, packages

Published 23 Aug 2021 13:55 CET | Ethiopia
Ethio Telecom said it plans to earn about ETB 70 billion this Ethiopian budget year by delivering 176 new and expanded local and ...

Calendar   /   Industry Events

19 Jan Fujitsu ActivateNow: Technology Summit
20 Jan Limelight Networks Q4 2021
20 Jan Netflix Q4 2021
25 Jan Ericsson Q4 2021
25 Jan Microsoft fiscal Q2
25 Jan F5 fiscal Q1
25 Jan Verizon Q4 2021
25 Jan European 5G Conference
26 Jan AT&T Q4 2021
26 Jan Corning Q4 2021
26 Jan Intel Q4 2021
26 Jan Calix Q4 2021
26 Jan Crown Castle Q4 2021
27 Jan Extreme Networks fiscal Q2
27 Jan Samsung Electronics Q4 2021
27 Jan Juniper Networks Q4 2021
27 Jan STMicroelectronics Q4 2021
27 Jan MTN Nigeria Q4 2021
27 Jan Elisa Q4 2021
27 Jan Rogers Communications Q4 2021
27 Jan Comcast Q4 2021
27 Jan Apple fiscal Q1
27 Jan FCC meeting
::: More Calendar Items