Payments fintech company Cellulant has obtained initial approval as a Payment Service Provider and Payment Facilitator in Egypt. With its collections and disbursement payment solutions, Cellulant says it will enable global and regional merchants operating in Egypt to easily manage their B2B and B2C payments seamlessly in-country and internationally, whether through mobile money, wallets, cash,...
Leading payments fintech company Cellulant has announced that it has obtained the initial approval as a Payment Service Provider and Payment Facilitator in Egypt. Adding these licences strengthens Cellulant’s operations in Africa, where it has the most comprehensive payment infrastructure, integrating over 370 payment methods, operating in 35 markets with licences and physical offices in...
Due to its strategic geographical position, straddling 3 continents, Egypt is a preferred destination for owners of submarine cables. The historic operator Telecom Egypt is moving towards its ambition to become the leader in connectivity services in the region. The telecommunications company Telecom Egypt signed, on Wednesday, October 4, a partnership memorandum of understanding with the...
A government document obtained by local news outlet Daily News Egypt has reportedly confirmed that the state is planning to divest its stake in Vodafone Egypt as part of a wider sale of shareholdings in public and private assets, which it hopes to complete by June 2024. According to the report, it has been told...
Telecom Egypt has introduced its new WeConnect environment, which allow customers to select cross connectivity at the click of a button. WeConnect’s open and neutral concept allows customer to mix and match connectivity between subsea cable systems in the Mediterranean Sea and the Red Sea. WeConnect’s digital platform, according to the telecoms provider, allows customer...
Egypt’s Ministry of Finance (MoF) is reportedly considering selling an additional stake in local fixed line incumbent Telecom Egypt, Al-Borsa reports, citing unnamed sources familiar with the matter. According to the news outlet the MoF is examining its options with regards the divestment of between 10% and 15% of Telecom Egypt, having previously sold a 9.5%...
Senior government officials briefed Egypt’s President Abdel Fattah El-Sisi, on Monday, about the country’s top digital initiatives. President El-Sisi met with the Prime Minister, Dr Mostafa Madbouly; Minister of Communications and Information Technology, Dr Amr Talaat; head of the Armed Forces Finance Authority, Lieutenant General Ahmed El-Shazly; and commander of the Armed Forces Signal Department,...
Egypt is relying on international cooperation to accelerate the implementation of its digital transformation strategy called “Digital Egypt 2030”. The country has recently signed agreements on ICT and Telecoms with Algeria, the United States, Palestine, Somalia, Romania… Egypt and Saudi Arabia want to strengthen their bilateral collaboration in the field of digital economy. The issue was discussed...
Telecom Egypt (TE) has reported a 38% year-on-year increase in consolidated revenue for the half-year ended 30 June 2023, saying that this rise had been ‘fuelled by the 75% y-o-y hike in wholesale revenue, constituting 71% of top line growth, followed by strong retail performance’. In the six-month period under review TE generated a total...
Following reports last month which claimed that Qatar Investment Authority (QIA) was aiming to acquire Telecom Egypt’s (TE’s) entire stake in Vodafone Egypt, it has now been suggested a deal could be finalised by September this year. According to Daily News Egypt, which cites unnamed sources familiar with the matter, a deal had actually been expected to...
