ADDIS ABABA (Reuters) – Ethiopia’s state-owned telecoms company Ethio Telecom said on Thursday that its half-year revenues rose 20% to 33.8 billion birr ($632.99 million).

Subscribers to Ethio Telecom’s mobile phone-based financial service, known as Telebirr, launched in May 2021, have grown to 27.2 million out of its 70 million total subscribers, CEO Frehiwot Tamiru told a news conference.

Ethio Telecom is facing competition from Safaricom Ethiopia, which launched commercial mobile network services in October and now covers at least 21 cities across the country.

(Reporting by Dawit Endeshaw; Writing by George Obulutsa; Editing by Alexander Winning)

Copyright 2023 Thomson Reuters.

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