Ethio Telecom’s Mobile Money reaches 34.3mil subscribers with transaction ETB 679.2 Billion

Addis Ababa, July 18, 2023 (FBC) – Ethio telecom in its Annual Business Performance Report of 2022/23 that covers performance period from 01 July 2022 to 30 June 2023 has disclosed that its Mobile Money business “telebirr” has 34.3 Million subscribers with a total transaction value of ETB 679.2 Billion.

It is to be recall that the company commenced the budget year with the implementation of its three years LEAD Growth Strategy with its set strategic objectives and goals that helps it to realize its aspiration to become a leading digital solutions provider in the competitive telecom market in Ethiopia.

In this budget year, the company has generated a total of 75.8 Billion ETB in revenue and achieved 101% of its target through expanding its revenue sources, mainly offering customer and institution-centered digital solutions and digital finance services beyond the basic telecom services, the annual business performance report has reviled.

The report added that during the budget year, the company’s total subscribers reached 72 Million achieving 98% of the subscriber base target and an increase of 8% from the previous budget year.

When seen in terms of service types the report explained; Mobile voice subscribers reached 69.5 Million, Data and Internet users 33.9 Million, Fixed Services 853.6 K and Fixed Broadband subscribers reached 618.3K, Telecom density has reached 66.8%.

“As part of enhancing digital economy, Our Mobile Money business “telebirr” which was introduced with the aim of meeting the country’s growing demand for digital financial services and to ensure financial inclusion. has 34.3 Million subscribers with a total transaction value of ETB 679.2 Billion” Ethio telecom has stated in its report. .

It added that 615 service centers, 136 master agents, over 107.3K agents and 58.4 merchants have been engaged so far.