From The Rio Times · Amina Diarra · · 1m 40s
Ethio Telecom Names Acting CEO After 8 Years
Ethio Telecom appoints Tariku Demissie as acting CEO after 8-year leader Frehiwot Tamiru joins cabinet.
In brief
Ethio Telecom appoints Tariku Demissie as acting CEO after 8-year leader Frehiwot Tamiru joins cabinet. Ethio Telecom's board named Tariku Demissie acting CEO on Sunday 18 October, replacing Frehiwot Tamiru who became Ethiopia's Minister of Innovation and Technology. Originally reported by The Rio Times.
Ethio Telecom Names Acting CEO
Ethio Telecom's board named Tariku Demissie acting chief executive on Sunday 18 October, replacing Frehiwot Tamiru who led the firm for eight years.
“The Reporter, an Addis Ababa paper, said”
Why Tariku Demissie Was Chosen
Tariku Demissie is a senior technology executive who previously served as chief infrastructure officer at Ethio Telecom.
“He replaces Frehiwot Tamiru, who led the firm for eight years”
Frehiwot Tamiru's Departure
Parliament approved Frehiwot Tamiru as Minister of Innovation and Technology on Thursday 8 October during Prime Minister Abiy Ahmed's cabinet reshuffle.
“Her move came in a cabinet reshuffle by Prime Minister Abiy Ahmed”
Ethio Telecom's Financials
Ethio Telecom earned 216 billion birr (US$1.33 billion) in revenue and 92.9 billion birr (US$574 million) in operating profit for the year to June 2026.
“In the year to June 2026, revenue was about 216 billion birr (about US$1.33 billion)”
Telebirr Service Growth
Telebirr reached 60.6 million customers with 2.61 billion transactions, up 145.3% from the previous year.
“Telebirr, the company’s mobile money service, reached 60.6 million customers after adding 8.54 million in the year”
Customer Base Expansion
Ethio Telecom has 90 million customers with plans to reach 100 million by 2027-28, according to Senegal’s Osiris news site.
“Total customers are about 90 million, and the company’s plan aims for 100 million by 2027-28”
Why This Matters for Investors
Ethio Telecom is Ethiopia’s largest digital gateway for US investors and aid agencies with US$1.33 billion in yearly revenue.
“For US investors and aid agencies, the company is Ethiopia’s biggest digital gateway”
What's Unknown
The board has not specified how long Tariku Demissie will serve as acting CEO or when a permanent CEO will be chosen.
“The board has not said how long the acting period lasts or when a permanent chief executive will be chosen”
The Competition
Safaricom Ethiopia, the private rival with 14.8 million customers, still dwarfs Ethio Telecom's customer base.
“Safaricom Ethiopia, the private rival run by Kenya’s Safaricom, had about 14.8 million customers in mid-2026”
Dividend Timeline
Small shareholders await their first dividend payout after the company promised it in the September dividend report.
“Small shareholders have been waiting for their first payout, which the company promised in the Ethio Telecom dividend report of September”
At a glance
Ethio Telecom's board named Tariku Demissie acting CEO on Sunday 18 October, replacing Frehiwot Tamiru who became Ethiopia's Minister of Innovation and Technology.
