The Ethiopian Telecom company Ethio has announced plans to roll out mobile services as part of its 3-year strategic plan. The firm’s main revenue stream has been the provision of internet and telephone services in a country with more than 100 million people.
The company also announced plans to roll out 4G network across the country as it looks to benefit from other revenue streams such as streaming services. Additionally, Ethio Telecom plans to increase its total subscribers from 43.6 million to 50.4 million.
Finally, the firm intends to increase its revenues from international business from $ 98.3 Million (KSh10B) to $138.3 Million (KSh14B). Perhaps this might derive from the expansion of 39 new products in its local and international portfolio.
Ethio’s move towards expanding its network as well as venturing into mobile money might mimic Safaricom’s growth from similar investments. According to a study by the company, Ethiopia’s mobile banking can generate as much as KSh1.34 trillion ($ 13 b) by 2025.
Speaking on mobile money, the company’s CEO Frehiwot Tamru revealed that Ethio is pursuing permission from the National Bank of Ethiopia to venture into mobile money.
“If we get the permit we have the infrastructure that supports mobile money” she added.
Lastly, part of the strategy dubbed “Bridge” will see the state-owned corporation morph into an independent private company.