Here are the key takeaways from the document related to Ethio Telecom’s share offering:
1. Ethio Telecom Share Offering:
Ethio Telecom is selling 100 million ordinary shares at ETB 300 per share as part of a public share offering. The purpose of the offer is to allow Ethiopian citizens to participate in the ownership of the company.
2. Company Overview:
Ethio Telecom is one of Africa’s oldest telecom providers, with over 130 years of service in Ethiopia. The company operates primarily in three segments: telecommunications, infrastructure sharing, and mobile financial services.
3. Market Position:
As of June 2024, Ethio Telecom held 94.5% of the market share in Ethiopia with 78.3 million subscribers. Its services include mobile voice, data, and broadband. The company also rolled out 4G in 424 cities and launched 5G in 5 cities.
4. Mobile Financial Services – Telebirr:
Ethio Telecom launched its mobile money service, Telebirr, in May 2021, and by June 2024, it had 47.5 million subscribers. Telebirr facilitates various financial services like microcredit, bill payments, and airtime purchases.
5. Financial Performance:
For the fiscal year ending June 2024, the company reported a revenue of ETB 91.37 billion, driven by telecoms (ETB 87.58 billion), infrastructure sharing (ETB 1.47 billion), and mobile financial services (ETB 2.32 billion).
6. Privatization Process:
Ethio Telecom underwent partial privatization with the government offering up to 45% of its equity. This share offering marks a step toward the company’s eventual listing on the Ethiopian Securities Exchange (ESX).
7. Key Risks:
The document outlines potential risks, such as increased competition from Safaricom, regulatory challenges in mobile financial services, and the impact of fluctuating foreign exchange rates on operations.
These highlights provide an overview of Ethio Telecom’s operations, financial health, and the ongoing public share offering aimed at involving Ethiopian citizens in the company’s ownership.
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