Telecom

Etisalat Egypt secures US$132.4 mln to increase market presence

Etisalat Egypt secures US$132.4 mln to increase market presence
Thursday, 02 February 2023 15:28

Over the past five years, competition has intensified in the Egyptian telecom market with operators taking action to reinforce their positions amid growing demand for broadband connection and new services.

Last Wednesday, telecom operator Etisalat Egypt signed an EGP4 billion (US$132.4 million) funding agreement with Commercial International Bank (CIB). The funding is expected to help the operator improve its footprint and offer new and higher-value-added services.

For Hazem Metwally (photo, left), Etisalat Egypt's CEO,  "Etisalat Egypt is keen on investing in infrastructure that provides the best-integrated technology services to our customers, and keeps pace with the huge increase in data usage rates across Egypt."

He believes the investment will allow the operator to unleash its potential by providing innovative services that meet subscribers' evolving needs and create services that leverage the latest technological advances.

The operator's investment plan aligns with Vision 2030, Egypt's agenda for inclusive development.

In the Egyptian telecom market, 4G is currently the segment with the most intense competition as demand for broadband internet is rising, following accelerated digital transformation in the health, education, government, and financial sectors.

Muriel Edjo

On the same topic
Mauritania warns three telecoms over poor service in 62 locations Demands compliance in 30 days or face new sanctions Operators previously...
AXIAN and four VCs poured €3M into Nucleon to expand AI cyber-defenses across Africa. Nucleon’s self-learning Zero-Trust platform already...
• Morocco, Mistral AI sign deal to boost local AI expertise• Partnership targets training, research, and ethical AI adoption• Strategy aims for 270,000...
• Zambia building 152 new telecom towers, 40 already in service• Airtel, IHS and regulator ICTA lead rollout to boost rural connectivity• Project aims to...
Most Read
01

From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...

Africa's Boundless Future: How a simple mobile phone became a pocket bank for millions
02

• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...

WAEMU Region Records Second Straight Month of Deflation, at -0.9% in July 
03

Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...

Gabon’s Airtel, Moov to Share Towers Under Govt-Brokered Deal
04

Vision Invest invests $700m in Arise IIP, Africa’s largest private infrastructure deal in 202...

Saudi Arabia’s 2025 Shopping List Now Includes Industrial Parks in Africa — With a $700 Million Entry Ticket
05

As a relatively small issuer in the West African Economic and Monetary Union (WAEMU) market, Benin i...

How Benin, a Small West African Nation, Became a Darling of Regional Debt Markets
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.