In an exciting move that signals a new chapter for Ethiopia’s largest telecommunications provider, Ethio Telecom has announced a groundbreaking opportunity for citizens to own a piece of the company through its public share offering. This initiative not only opens the doors to individual ownership but also aligns with the company’s broader vision of creating a digitally empowered Ethiopia.
A Legacy of Innovation
With a history that spans over 130 years, Ethio Telecom stands as one of Africa’s oldest and most trusted telecom providers. From the days of traditional landlines to the current era of 5G technology, the company has been at the forefront of Ethiopia’s communication landscape, playing a pivotal role in connecting millions of people.
Today, with over 78.3 million subscribers, Ethio Telecom dominates the market with a 94.5% market share, offering a wide range of services including mobile voice, data, and broadband. As the digital landscape continues to evolve, the company has embraced the future with advanced technologies, rolling out 4G in 424 cities and pioneering 5G services in key urban areas.
The Rise of Telebirr: Revolutionizing Mobile Financial Services
In May 2021, Ethio Telecom launched Telebirr, a mobile financial service that quickly became a game changer. Telebirr is not just a mobile wallet; it’s a gateway to financial inclusion for millions of Ethiopians. With over 47.5 million subscribers as of June 2024, Telebirr offers users a variety of services including microcredit, bill payments, and airtime purchases, all from the convenience of their phones.
The impact of Telebirr is undeniable. It’s more than just a financial tool—it’s a catalyst for economic empowerment. The platform handled 547 million transactions in the past year alone, highlighting its pivotal role in bridging the financial inclusion gap in Ethiopia. As Ethio Telecom continues to innovate, Telebirr is set to evolve with additional services that will enhance its offerings for users and businesses alike.
The Share Offering: A Milestone in Ethiopian History
Ethio Telecom’s decision to sell 100 million ordinary shares at ETB 300 per share is more than a financial event—it’s a milestone in Ethiopian corporate history. This offering allows Ethiopian citizens to own a stake in one of the nation’s most iconic companies, promoting local ownership and encouraging broader participation in the country’s economic growth.
While this is just the beginning, the share offering represents a key step in the company’s long-term vision of becoming a publicly traded entity. Ethio Telecom has its sights set on listing on the upcoming Ethiopian Securities Exchange (ESX), further integrating itself into the global financial ecosystem.
Ethio Telecom’s Role in the Digital Future
As Ethiopia embraces the digital age, Ethio Telecom remains committed to infrastructure development, innovation, and inclusive growth. Its strategic partnerships with international tech giants, ongoing investments in advanced technologies, and focus on affordable, accessible digital services underscore its role as a key player in Ethiopia’s future.
From expanding mobile networks and introducing 5G, to revolutionizing financial services through Telebirr, Ethio Telecom’s vision is clear: to digitally connect every corner of Ethiopia and empower its citizens with the tools and services they need to thrive in the modern world.
Seizing the Opportunity
This is an exciting time for both Ethio Telecom and Ethiopia. The company’s share offering not only invites Ethiopians to participate in its success but also reaffirms its commitment to building a stronger, more connected nation. By investing in Ethio Telecom, citizens are not just purchasing shares—they are investing in the future of Ethiopia.
Whether you’re a seasoned investor or someone passionate about contributing to Ethiopia’s growth, this is a unique opportunity to be part of a historic journey that promises to shape the digital and economic landscape of the country for generations to come.
Join the conversation, explore the potential, and be a part of Ethio Telecom’s bold new era!
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