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Telecom

Telecom Egypt to borrow $720m to improve infrastructure and services

Tuesday, 27 June 2017 21:10

(Ecofin Agency) - Telecom Egypt’s Chief Executive Director, Ahmed El Beheiry, revealed on June 22 that the firm is about to take a $720.22 million loan. The company’s board approved the loan conditions and it will be paid back over the next eight years. The loan will be used to improve infrastructures and develop mobile internet services.

Telecom Egypt made the announcement regarding the loan a day after 4G frequencies were awarded to telecom operators by the National Telecom Regulatory authority (NTRA).

Each of the operators now has to get ready to launch 4G, within the next two months. Customers who have been waiting for the technology since 2014 have only few more weeks to wait.

Telecom Egypt aims to replicate its experience with land internet in the mobile segment. To this end, it acquired mobile and 4G licenses at the same time. It expects its revenues and users’ pool to increase as it will offer higher quality services.





 
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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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