Andualem Admassie (PhD), the long-serving CEO of Ethio Telecom, has been replaced by Frehiwot Tamiru, his deputy, The Reporter has learnt.
A month ago, the telecom monopoly’s Chief Operation Officer, Esayas Dagnew, has also been removed from his position and replaced by Ethio Telecom’s Chief Technology Officer Amare Assefa.
Ethio telecom is often referred to as “cash cow” because of the huge profit it makes out of the services it provides. In the first half of the 2017/18 budget year, the telecom monopoly has garnered a revenue of 18.4-billion-birr profit achieving 94.5 percent of its plan.
Its total reached 64.4 million users out of the which 62.6 million mobile subscribers are including 16.05 internet users. Meanwhile the latest number of regular internet subscribers has reached 1.18 million.
It is to be recalled that the government decided to fully or partially privatize major state owned enterprises among which ethio telecom is one.