More Africa NewsNetworksEgypt: Etisalat Misr announces more than $ 160 million for the modernization of its network this year

May 9, 2019by myles

For the year 2019, the mobile operator Etisalat Misr announces an investment of more than 3 billion Egyptian pounds (167,272,358 US dollars) for the modernization of its telecom network. Hazem Metwally the president and CEO of the telecom company, revealed it in an interview with Reuters.

The money spent on upgrading the telecom network will account for more than half of the 4.5 billion Egyptian pounds ($ 250,908,537) that the company plans to invest in Egypt in 2019. It was essentially the same amount invested in the network in 2018.

The focus of Etisalat Misr’s telecom network is on double-digit growth in the company’s revenue at the end of 2019. For 2018, the telecom company announced a revenue of 13%. , 6 billion pounds (US $ 758,301,356), up 16%. 

The data service contributed 30% of this income. Hazem Metwally wants this contribution to rise to 35% by the end of the current year. With a modernized network, Etisalat Misr is confident of its ability to attract new consumers who will grow its business.

In the fixed telephony segment, Etisalat plans to launch the service in less than two years. Currently, the company performs tests on a hundred lines.

Source: Agence Ecofin

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