Egypt has suspended the sale of a stake in state-controlled Telecom Egypt due to “market conditions”, Reuters reported on Wednesday. Egypt’s cash-strapped government had planned to offer 10 percent stake in the state-controlled Telecom giant that employs about 53,000 people. Egypt is facing a foreign currency crunch that has led to a shortage of basic goods and record inflation....
Telecom Egypt (TE) has announced that it is working with IBM to adopt intelligent automation technologies to implement an umbrella solution for all its operations support systems (OSS) on mobile, fixed, and core networks. A press release regarding the development saw it confirmed that TE will adopt IBM Cloud Pak for Watson AIOps deployed on RedHat OpenShift and implement IBM Robotic...
The shares will reportedly be made available to both foreign and domestic investors This week, sources speaking to Reuters report that the government is looking to offload a 10% of its 80% stake national network operator Telecom Egypt. At its currently share price, this stake would be worth around $150 million. According to the report, the government...
Egypt’s information and communication technology (ICT) sector is the fastest growing sector in the country’s economy, reaching 16.7 percent growth in FY2021/2022 compared to 16.1 percent during the previous fiscal year, according to Minister of ICT Amr Talaat. Talaat made his statements during the third edition of the iTB/ICT Talents Bank conference organised by Huawei...
Fintech and cross-border payments company Flutterwave has secured two payment processing licences to operate in Egypt. The company said the Payment Services Provider and Payments Facilitator licences will help it to engage Egypt’s digital payments market, which according to Statista is projected to top US$14.15-billion in 2023. Flutterwave is permitted to operate as an official digital payments...
Etisalat Egypt has signed a US$132.4-million funding agreement with the Commercial International Bank (CIB) to support its expansion in the North African country. The operator said the investment also supports the Digital Egypt Project, a state-driven digital transformation initiative part of Egypt’s Vision 2030 agenda for inclusive development. Etisalat Egypt CEO Hazem Metwally said, “Etisalat...
Telecom Egypt has announced that the National Telecom Regulatory Authority (NTRA) has accepted its financial and technical offer to obtain an additional 5MHz of FDD spectrum in the 1800MHz band. In a press release regarding the development, the operator said that its new spectrum allocation – which is valid for ten years – had been ‘competitively priced’...
Digital transformation is at the heart of the development strategies of many governments around the world. To accelerate the achievement of their digital ambitions, States are exploring cooperation in the field of ICT. Amr Talaat, Egyptian Minister of Communication and Information Technology, signed separate memorandums of understanding with his Palestinian counterpart, Ishaq Sidr, and his Somali...
The tower is approximately 18m high, with a special camouflage fence made of environmentally friendly materials, supported by integrated wireless access solutions and a green solar energy system Telecom Egypt, the first integrated operator of communications and information technology services in Egypt, in cooperation with Huawei Technologies, the leading global provider of information and communications technology (ICT) infrastructure and smart devices,...
UK-based Vodafone Group has announced it has completed the transfer of its 55% shareholding in Vodafone Egypt to its African subsidiary, Vodacom Group. In a press release regarding the development Vodafone Group claimed the development ‘simplifies the management of [its] African assets’, while suggesting that as a result of the shareholding transfer Vodacom ‘gains exposure...
