Telecom and digital: subscribers, capex and mobile money

Module 03 / 5 · 65 min

Model a mobile operator from its subscriber funnel, ARPU and churn, carry FX-denominated network capex and licence costs, value mobile money, and test competition and FX scenarios.

In this module you will learn to

Explain the structure and regulation of the Ethiopian telecom market and its effect on returns
Build a subscriber, ARPU and churn revenue model
Model network capex, spectrum and licence costs in foreign currency and test FX sensitivity
Estimate mobile money revenue and value a challenger operator under competition scenarios

Built on

Erudite Africa course specification: 3.i Sector-Specific Analysis and Modeling, Levels 1 and 2 (October 2026)
Erudite Africa Ethiopian-context programme overview and legal register (October 2026)
NBE directives as listed in the lessons: SBB/90/2024, SBB/92/2024, SBB/95/2025, NBE/INT/13/2026, FXD/01/2024, FXD/04/2026, ONPS/09/2023 (reported), and the MPC No. 7 press release (July 2026)
Ethiopian laws and directives: Investment Proclamation No. 1180/2020, PPP Proclamation No. 1076/2018 and Directives No. 1067/2025 and 242/2013 E.C., SEZ Proclamation No. 1322/2024 and Directive No. 1083/2025, Investment Incentives Directive No. 1064/2025, Excise Directive No. 1007/2024; Proclamations No. 1148/2019, 810/2013 and 678/2010 as reported
World Bank: Ethiopia Telecom Market Assessment, Review of Industrial Parks in Ethiopia, Macro Poverty Outlook (April 2026) and Country Economic Memorandum

Examples and companies are fictional. Bank practices are shown as typical Ethiopian practice, not as any one bank's policy. Always apply your own institution's approved policy and the current NBE directives.