Ethio Telecom Reports 47.5% Earnings Growth as Subscriber Base Surpasses 90 Million

Ethiopia’s state owned telecommunications company Ethio Telecom has reported a 47.5 percent increase in earnings before interest and taxes (EBIT) for the financial year ending June 2026, driven by continued growth in its customer base and expanding digital financial services.

Speaking at a press conference on Thursday, Ethio Telecom Chief Executive Officer Frehiwot Tamiru said the company’s earnings rose to 92.9 billion birr (approximately $581.3 million), up from 63 billion birr during the previous financial year.

The company also recorded strong revenue growth, with total revenue increasing 33 percent to 215.8 billion birr, reflecting rising demand for telecommunications and digital services across Ethiopia.

Ethio Telecom’s total subscriber base grew by 8.3 percent during the year, reaching 90.12 million customers, further cementing its position as one of Africa’s largest telecommunications operators.

The company’s mobile money platform, Telebirr, also continued its rapid expansion. Subscribers increased by 16.4 percent to 60.6 million users, highlighting the growing adoption of digital financial services in Ethiopia.

The latest financial results come as Ethiopia continues implementing economic reforms aimed at opening key sectors to private investment.

As part of the government’s broader economic liberalization agenda, authorities have announced plans to partially privatize Ethio Telecom. Although the company launched an initial public offering (IPO) last year, only 10.7 percent of the shares offered were sold.

Telecommunications Reform Continues

Ethiopia’s telecommunications market serves a population of approximately 120 million people and has become one of Africa’s most closely watched liberalization efforts.

Since Prime Minister Abiy Ahmed launched economic reforms in 2018, the country has gradually opened its telecommunications sector to competition after decades of state monopoly.

The reforms have attracted significant international interest, including from Kenya’s Safaricom, which was part of the consortium awarded Ethiopia’s first private telecommunications license in 2021.

Industry analysts view Ethiopia as one of Africa’s largest untapped telecommunications markets due to its sizeable population, growing smartphone adoption and increasing demand for mobile internet and digital financial services.

The continued expansion of Telebirr also reflects the accelerating shift toward digital payments across East Africa, where mobile money platforms are playing an increasingly important role in financial inclusion and economic activity.

At The Voice of Africa, we believe Africa’s digital economy is entering a defining decade. Telecommunications companies are no longer simply connecting people through voice and internet services. They are becoming platforms for financial inclusion, entrepreneurship, education and innovation. Ethiopia’s continued investment in digital infrastructure demonstrates how technology can become a catalyst for broader economic transformation across the continent, particularly as more Africans gain access to mobile connectivity and digital financial services.

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