(Ecofin Agency) - Telecom Egypt is increasing investments to strengthen its telecom network to better meet the demand for high-speed connectivity and remain competitive in the market. The operator recently partnered with Huawei to accelerate its digital transformation.
State-owned operator Telecom Egypt announced on Monday (March 13) that it has signed a partnership agreement with U.S.-based technology company IBM to automate its mobile, terrestrial, and broadband networks. This partnership should help the telecom operator improve the operational efficiency of its networks and the quality of services provided to subscribers.
The solutions proposed by IBM are based on artificial intelligence. They are expected to help modernize Telecom Egypt's IT system, reduce operating costs, and reduce the time needed to monitor and resolve network-wide technical problems.
The partnership is part of Telecom Egypt's efforts to transition from a fully integrated telecommunications provider to an information and communication technology (ICT) service provider. The company recently signed a partnership agreement with technology company Huawei to accelerate its digital transformation. It has also acquired an additional 45 MHz of spectrum over the past two years.
These investments are expected to enable Telecom Egypt to strengthen its network to support the increase in traffic and meet the growing demand for high-speed connectivity. This will allow the company to retain its subscribers and attract new ones to strengthen its position in the domestic telecom market and increase its revenues.
According to its financial results for the 2022 fiscal year, Telecom Egypt saw its profit increase by 19 percent to EGP 44.3 billion (USD 1.4 billion). The company also added around 3 million new mobile subscribers.
Isaac K. Kassouwi