Safaricom Reaches 10 Million Subscribers in Ethiopia, Eyes Financial Break-Even Within a Year

Just four years after entering Ethiopia’s once-closed telecom market, Safaricom Ethiopia says it has reached 10 million active users, measured over the past 90 days. The company announced the milestone at a press briefing held at its headquarters in Addis Ababa this morning, reflecting its fast growth in a sector long dominated by a single state provider.

Wim Vanhelleputte, the company’s CEO, acknowledged the progress but said it is only a stepping stone.

“Ten million active subscribers is not a small achievement,” he said. “But it’s not the final destination either. It’s a benchmark that tells us we’re on the right path, but we still have a long road ahead.”

Safaricom was granted a telecom license in mid-2021, ending Ethiopia’s decades-long monopoly in the sector. Since then, the company has built out a fast-expanding 4G network that it says now covers more than half the population. As of now, over 3,100 network sites have been rolled out across more than 150 towns and cities.

The company reports an average of 31,000 new customers joining daily. Of the 10 million active users, around 7.1 million regularly use mobile data services, an indicator of Ethiopia’s increasing digital appetite. Monthly data consumption per user has grown to 6.5GB, up by more than half compared to last year.

Behind the numbers is a sizable financial outlay. Safaricom Ethiopia says it has invested more than ETB 300 billion (about USD 2.27 billion) in infrastructure and digital financial services over the past four years.

The company directly employs about 900 people, most of whom are Ethiopian nationals. It also estimates that over 20,000 people have found indirect jobs through its operations—selling SIM cards, distributing airtime, or supporting the network build-out.

In addition to its commercial growth, the telecom provider highlighted its community engagements. It has allocated over 100 million birr to schools for laptops, routers, and free internet, and provided assistance to communities affected by natural disasters in regions such as Afar, Gofa, and Ashewa. A 10 million birr donation was also made to the Mekedonia Humanitarian Association.

The company’s next big goal is to reach financial break-even—something the CEO says could happen within the next 6 to 12 months. Doing so would allow shareholder and lender funds to shift toward expansion, rather than operating costs.

Safaricom also has plans to nearly double its network sites to over 6,000 by December 2026, aiming to reach up to 90% of the population. But the company admits the path forward won’t be easy.

Vanhelleputte said the company is currently selling mobile data at prices “three times cheaper” than the continental average below cost. While this has helped attract users, he warned that the model is not sustainable.

“There is an urgent need for price rationalization, not just for Safaricom, but for the telecom sector as a whole,” he said. “If we’re serious about investing further, ETB 500 billion more will be needed across the industry in the coming years—we’ll have to rethink pricing.”