Ethiotelecom is set to amplify its focus on digital financial inclusion through its mobile money service, Telebirr, in the 2024/25 fiscal year. With a goal of connecting 55 million customers, a 15.7% rise from the previous year, Telebirr will expand its services nationwide, providing secure and accessible financial solutions to millions.
Key objectives for this year include a 28% increase in Telebirr agents, totaling 275,000, and a 102% growth in merchants, reaching 367,000. Ethio Telecom also plans to introduce a range of digital financial services, including e-commerce payments and international online payments through additional remittance partnerships.
This expansion aligns with Ethio Telecom’s broader strategy to drive Ethiopia’s digital economy by making financial services more inclusive. The company aims to empower communities with seamless digital payment systems and accessible financial solutions.
In addition to expanding Telebirr, Ethiotelecom’s 2024/25 business plan includes significant investments in telecommunications infrastructure. The company plans to deploy 1,298 new mobile sites, expand 4G coverage to 500 towns, and launch 5G services in 15 cities. Over $1 billion has been earmarked for these upgrades, alongside the rollout of 260 new efficiency-boosting solutions and the supply of more than 1.1 million devices, including comprehensive digital solutions such as IoT and cloud computing.
Ethio Telecom, the telecom giant of Ethiopia, is also expected to go public when the Ethiopian Stock Exchange launches. This move is seen as part of the company’s strategy to cement its role as a key player in Ethiopia’s telecommunications and digital services landscape.
