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

Story

Hot startup of the month: Nigeria's Tech Herfrica

Connecting Africa's hot startup is Nigeria's Tech Herfrica, a social impact organization that focuses on the digital and financial inclusion of women and girls in rural areas of Nigeria.

Story

Omdia View: February 2024

Highlights in February 2024 in the Middle East and Africa included 5G launches in Senegal and 5G trials in Egypt as well as Kenya's first 5G MVNO. Airtel also launched a new wholesale connectivity business while MTN and Huawei are planning a joint Innovation Technology Lab in South Africa – that and more in this month's Omdia View.

More Innovation hub

Latest video

More videos

Partner perspectives

All Partner Perspectives

Sponsored video

More videos

Industry announcements

More Industry announcements

Upcoming events

Africa Tech Festival 2024
November 11-14, 2024
Cape Town, South Africa
More Upcoming events

Africa Tech Perspectives

Story

Uber's Marjorie Saint-Lot on inclusion and sustainability in Africa

Uber's Country Manager for Ghana and Cote d'Ivoire, Marjorie Saint-Lot, shares how the ride-hailing company is approaching public-private partnerships, environmentally friendly initiatives and gender inclusion in Africa.

Story

The 100 most influential African leaders in 2023

A new report from Africa Tech Festival and Connecting Africa puts a spotlight on the top 100 African leaders in the telecoms and technology sector in 2023.

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.

More Africa Tech perspectives

Guest Perspectives

Story

Omdia View: February 2024

By Omdia Analysts

Highlights in February 2024 in the Middle East and Africa included 5G launches in Senegal and 5G trials in Egypt as well as Kenya's first 5G MVNO. Airtel also launched a new wholesale connectivity business while MTN and Huawei are planning a joint Innovation Technology Lab in South Africa – that and more in this month's Omdia View.

Story

Omdia View: January 2024

By Omdia Analysts

Highlights in January 2024 in the Middle East and Africa included a $200 million fintech deal between MTN and Mastercard as well as 5G network trials by Telecom Egypt – that and more in this month's Omdia View.

More Guest Perspectives

Like us on Facebook

Newsletter Sign Up


Sign Up
Tag id test-002