EGYPT – Emirati based telecommunications services provider, Etisalat is looking to invest about LE 4.5 billion (about US$283 million) in Egypt’s telecommunication sector with a view of developing mobile phone networks and enhancing services offered to clients.
CEO of Etisalat Misr Hazem Metwally announced that the telecom plans during a meeting with Executive Director of the General Authority for Investment and Free Zones (GAFI) Mohamed Abd El-Wahab.
The meeting according to a report by Egypt Today was aimed at discussing the Etisalat’s future plans for expansion in the Egyptian market.
Metwally further revealed that Etisalat Misr also aims to invest in the data transmission sector, as well as future technologies such as the Internet of Things (IOT) and artificial intelligence.
The Chief Executive for Etisalat also explained that the telecom operator has been investing in Egypt since 2007, and had so far invested LE50 billion (US$3.14 billion) in the country’s telecommunication sector.
On his part, Abdel Wahab said that GAFI is keen on boosting cooperation with Etisalat Misr during the coming period and providing all support for the company’s future investment plans.
The GAFI Executive Director confided to Metwally that work is underway to implement all necessary reforms to encourage investors to increase their presence in the Egyptian market.
Etisalat Misr is the third mobile operator to enter the Egyptian market and the first integrated operator for telecom services in Egypt.
It officially started its business in 2007 and managed to attract one million subscribers in the first fifty days of the launch of its operations.
Etisalat Misr is one of the companies operating under Emirates Telecommunication Group Company which is based in the United Arab Emirates.
The Emirati based telecommunications services provider, currently operates in 15 countries across Asia, the Middle East and Africa.
Etisalat is the 14th largest mobile network operator in the world, with a total customer base of more than 167 million.
In Africa, the telco has a presence in a number of countries mainly in the West and North Africa regions.
Apart from Egypt, Etisalat has a presence in Morocco, Nigeria, Benin, Burkina Faso, Togo, Niger, Central African Republic, Gabon and Côte d’Ivoire.
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