The government is planning to sell a stake of up to 45% in Ethio Telecom, after reviving a previously postponed privatisation process.
The telecoms industry is seen as a big prize in Prime Minister Abiy Ahmed's push to open up one of East Africa's largest economies after he took over in 2018, thanks to a large population of about 120 million.
But efforts to lure investment have been slowed by a nearly two-year war in northern Tigray that has killed tens of thousands and uprooted millions.
Ethio Telecom CEO Frehiwot Tamiru told a news conference that the company's subscribers had risen by 8% to 72 million, while subscribers to its financial service Telebirr rose to 34.3 million from 27.2 million six months earlier.
Revenue rose more than 23% to 75.8bn Birr in the latest financial year.
The government's economic liberalisation agenda includes a plan to issue a telecoms licence for a third operator. Ethio Telecom currently competes with a consortium led by Kenya's Safaricom which started operations in October 2022.
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