Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

4G/5G

Telecom Egypt gets $167M from EIB for 4G expansion

Article Image
Telecom Egypt has secured a medium-term loan of €150 million (US$167 million) from the European Investment Bank (EIB), which it will use to expand its 4G network.

The loan – from the lending arm of the European Union – will be used to improve Telecom Egypt's mobile network coverage by deploying around 2,000 new mobile sites and installing additional capacity layers to its existing portfolio of towers, the teloc said in a statement.

It said network improvements will be rolled out across Egypt, including less densely populated areas, and will enhance competition and affordability of services.

"Telecom Egypt will capitalize on its multiple financial resources, newly awarded spectrum and rich portfolio of valuable products, among other factors, to continue serving its growing customer base and strengthen its competitive position in the Egyptian telecom market," said Adel Hamed, CEO of Telecom Egypt.

Telecom Egypt is the North African country's smallest mobile operator with only about 9% market share at the end of 2021, according to statistics from market research company Omdia, but has been growing customers steadily over the past five years.

The market is dominated by Vodafone Egypt with almost 43% market share, followed by Orange Egypt with 26% and Etisalat Misr with almost 22% market share. Telecom Egypt also owns almost 45% of Vodafone Egypt.


Want to know more about 4G and 5G in Africa? Check out our dedicated 4G/5G content channel here on Connecting Africa.


Of Telecom Egypt's around 9.4 million subscribers about 5 million were using 4G services at the end of 2021, according to Omdia.

"This project will help accelerate large scale investment in mobile networks and ensure affordable access to digital services in Egypt. The EIB identifies the digital transformation as a catalyzer for innovation, employment and sustainable economic growth. We are pleased to partner with Telecom Egypt, a dynamic group engaged in its ambitious network expansion program, to offer a modern and broader access to connectivity throughout Egypt," said Flavia Palanza, director for EU Neighborhood Countries at the EIB.

Related posts:

*Top image source: Telecom Egypt Investor Relations Facebook page.

— Paula Gilbert, Editor, Connecting Africa

Innovation hub

Video

Interview: Qualcomm execs on mentorship for African startups

Qualcomm Technology VP for Engineering, Sudeepto Roy, and Elizabeth Migwalla, VP for Government Affairs, join Connecting Africa for a video interview about Qualcomm's Make in Africa Mentorship Program.

Story

Hot startup of the month: Pan-African fintech KamaPay

This month's hot startup is pan-African fintech KamaPay, which helps individuals and businesses make cross-border payments on the continent.

More Innovation hub

Latest video

More videos

Sponsored video

More videos

Industry announcements

More Industry announcements

Flash poll

All polls

Africa Tech Perspectives

Story

Deep dive into East Africa's tech startup ecosystem

New survey reveals a lack of access to investors, reliance on international VCs and global recession trends as the biggest barriers for East African tech startups to access funds.

Story

Challenges and opportunities for women's tech careers

A new survey reveals that COVID-19, the cost-of-living crisis, skills shortages and a lack of mentorship have negatively affected women's career development over the past two years.

Story

Survey: Opportunities for Women in Tech

Take our new survey for women across Asia, Europe and Africa looking at the biggest challenges and opportunities for women-led enterprises and trends in tech careers for women.

More AfricaCom perspectives

Upcoming events

London Tech Week
June 13-16, 2023
Queen Elizabeth II Centre, Broad Sanctuary, London SW1P 3EE
Cybertech Africa 2023
August 1-2, 2023
Kigali Convention Center, Kigali, Rwanda
Africa Tech Festival, Home of AfricaCom and AfricaTech
November 13-16, 2023
CTICC, Cape Town
More Upcoming events

Guest Perspectives

Story

Omdia View: February 2023

By Omdia Analysts

In February 2023 key events in the Middle East and Africa included a major Internet project for Africa's underserved by Liquid Intelligent Technologies and Microsoft as well as a 5G launch in Tanzania – that and more in this month's Omdia View.

Story

Omdia View: July 2022

By Omdia Analysts

Kenya and Zambia move towards 5G with new spectrum allocations while Tunisie Telecom plans to shut down its 3G network - that and more in this month's Omdia View.

More Guest Perspectives

Partner perspectives

All Partner Perspectives

Like us on Facebook

Newsletter Sign Up


Sign Up