Ethio telecom launched of its LTE Advanced service for the first time in its South Eastern Region in cities including Adama, Bishoftu, Mojo, Dukem, Gelan and Awash Melkasa.
The expansion is based on where the company said that there is high mobile data traffic and surge in demand. “The service covers areas with a high demand for speedy internet,” said Frehiwot Tamiru, CEO of Ethio telecom during the launching ceremony held in Adama Haile Resort Hotel.
LTE Advanced mobile service is one of the latest mobile technologies providing reliable connections enriching customers’ experience with exceptional speed to download or upload large-sized data, high-definition (HD) multimedia, live streaming and video conferencing in real-time.
The new expansion will enable and empower customers to digitize their services, increase productivity and improve their experiences.
Speaking about the expansion of the new project at the launching ceremony Frehiwot said, “It opens a new chapter and brings an immediate impact on congested areas of telecom service.”
The project that was completed in one month is one of its three-year growth strategies, including data traffic growth, and demand-based 4G/LTE expansion around the country.
Over the next few months, the company has a plan to launch similar services in other parts of the country, for which preparation works are already underway.
Currently, at least 769 new sites are under development. Furthermore, she said that over 103 cities are earmarked under the company’s program to enjoy 4G/LTE advanced telecom services.
The company has 50.7 million subscribers and a geographic coverage of 85.4 percent at a national level.
The telecom provider, which aspires to become a preferred telecom operator among customers and partners in Ethiopia, also declared revenues of 25.5 billion birr in the first half of the current Ethiopian fiscal year, achieving 95 percent of its target.
The revenue marks a 12.3 percent increase compared to the same period last year.
During this period, a regulation enactment was also witnessed from the Council of Ministers that incorporated changes such as; the authorized capital increased to 400 billion birr from 40 billion birr, the go ahead to engage in Mobile Money and related digital finance services, permission to engage in other related activities including forming an entity and further gives the right to invest on equities locally and at international level.
On matters valuation, the company’s Asset valuation work has also been completed and total asset value has increased by 42% using IFRS reporting standards.