(Ecofin Agency) - 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