Ethio Telecom Wants 295 Billion Birr, and Ethiopia's Banks Just Got 60.7 Billion Birr Back

Five things moved in Ethiopian markets on 3 September, and they point in the same direction: money is being pushed toward households and devices rather than held back.

Ethio Telecom is targeting a 36.7% revenue increase

Ethio Telecom is targeting 295 billion birr in revenue for the 2026/27 fiscal year, chief executive Frehiwot Tamiru told reporters. Against the 215.8 billion birr the company reported for the fiscal year that ended in July, that is an increase of 79.2 billion birr, or 36.7%.

The company frames it as a shift from a traditional carrier to a technology and financial-services platform, with digital businesses taking a larger share.

Underneath the target is a build: 5,417 new 4G sites in 2026/27 and a doubling of the 5G footprint, aimed at 95% 4G coverage.

And it is financing the handsets, not just the network

Separately, Ethio Telecom secured a 15 billion birr financing agreement with Siinqee Bank, of which 4 billion birr is earmarked to help low-income users buy smartphones.

A network expansion only converts into revenue if people own devices that can use it, so the coverage targets and the handset-financing line announced the same day are the same strategy stated twice. The device half depends on consumer credit performance rather than on engineering.

A 100 billion birr mortgage refinancer

Prime Minister Abiy Ahmed (PhD) announced that the National Bank of Ethiopia and the IFC have signed a cooperation framework for a 100 billion birr mortgage refinancing company, with the IFC contributing a minimum of $200 million. It would be Ethiopia's first dedicated mortgage refinance institution.

Agricultural exports at $4.55 billion

Agricultural exports generated $4.55 billion in the 2025/26 fiscal year, with coffee about two-thirds of that, as crop production passed 1.85 billion quintals, according to the Ministry of Agriculture. The figures were presented at the ministry's annual review and 2026/27 planning forum in Bishoftu.

It is a strong export performance and a concentrated one — two-thirds of it rests on coffee.

The central bank eased off

The National Bank of Ethiopia cut the size of its liquidity-absorbing auction to 40 billion birr as a 100.7 billion birr deposit operation matured on Thursday — leaving at least 60.7 billion birr more liquidity with commercial banks than the maturing operation had taken out.

A central bank absorbing less leaves more room for banks to lend, which is the precondition for both the handset financing and the mortgage plan above.

Sources: Birr Metrics — Ethio Telecom revenue, 4G expansion, Siinqee financing, mortgage refinancing company, agricultural exports, NBE liquidity operation, all 3 September 2026.