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Ethiopia’s Ethio Telecom posts 14% rise in half-year earnings

Ethiopia’s Ethio Telecom posts 14% rise in half-year earnings

ETHIOPIAN state-owned telecoms company Ethio Telecom posted a 14% rise in half-year profit helped by growth in its mobile phone-based financial service Telebirr. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 19.77 billion birr ($352 million) while revenue grew by 26% to 42.86 billion, CEO Frehiwot Tamiru said in a statement. Subscribers to Telebirr, launched in May 2021, grew to 41 million of its 74.6 million total subscribers, Frehiwot said while handling transactions worth 910.7 billion birrs. Ethio Telecom, a former monopoly, competes with Safaricom Ethiopia, which launched commercial mobile network services in October 2022 after winning the…
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South Africa fights to keep phone networks up as lights go out

South Africa fights to keep phone networks up as lights go out

NQOBILE DLUDLA ON a recent Friday morning north of Johannesburg, the head of South Africa's largest telecoms company surveyed the arsenal of backup systems keeping just one of his 15,000 network towers online amid the worst power cuts on record. A diesel generator. Solar panels. A bank of expensive backup batteries, theft-proofed within a block of concrete. "Our costs have gone through the roof," lamented Sitho Mdlalose, managing director of Vodacom South Africa. As the national power grid crumbles, leaving Africa's most advanced economy in the dark for up to 10 hours a day, mobile operators including Vodacom, MTN and majority…
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