Etisalat Egypt secures US$132m funding for expansion

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...

Abu Dhabi’s Etisalat Group raises West Africa focussed Maroc Telecom Group stake to 53% for $505m

The Etisalat Group now has full ownership in Etisalat Investment North Africa, having bought the 8.7 per cent it was not holding from Abu Dhabi Fund for Development. The acquisition cost of $505 million is subject to change based on prevailing market conditions such as foreign exchange rate prior to the transaction completion. The acquisition will be...

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