FinanceMore Africa NewsEgypt: CEO of Vodafone Egypt, announces an investment of € 250 million in the country in 2020

April 29, 2019by myles

For the next year, Alexandre Froment-Curtil, the president and CEO of the mobile operator Vodafone Egypt, announces an investment of 250 million euros in the country. During an interview with the news site , he said the investment, which will add to the nearly 45 billion Egyptian pounds (US $ 2,509,085,372) injected by the company into the country over the last twenty years, demonstrates the confidence of society in the general climate of the national telecommunications sector.

”  We are very confident about Egypt’s macroeconomic dynamics, including the general state of the country, including GDP growth, population, and the very vigorous economic reforms undertaken over the past three or four years. We view these reforms as difficult reforms, but the country’s economic prospects are now very positive. The reforms have fostered business confidence in the market,  “explained Alexandre Froment-Curtil.

While the company is still waiting for additional frequencies requested from the National Telecommunications Regulatory Authority (NTRA) to meet the strong demand for connectivity raised by 4G, Alexandre Froment-Curtil said that the company is not yet thinking of the 5G.

”  For Egypt, it is still too early, because it requires both technology and infrastructure, and all this is not yet on the agenda. Basically, we launched 4G since 2016, so we need more time to extend 4G to everyone. Until everyone has 4G in their hands – and I’m talking about the whole population, not just in Cairo – we should not worry about 5G,  “said the boss of Vodafone Egypt.

Source: Agence Ecofin

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