14 June 2019

Etisalat Misr has ringfenced USD167.3m to modernise its network in Egypt.

The company’s president and chief executive officer Hazem Metwally said the plan was to   secure more revenue from internet services as the business works to offset the impact of a decline in subscriber numbers.

This figure is more than half of the amount (EGP4.5bn or USD251m) the company planned to invest in Egypt this calendar year.

The upgrade is expected to contribute significantly towards the operator’s aim to achieve double-digit growth in revenue at the end of 2019.

In 2018, Etisalat’s revenue increased by almost 16 per cent to circa EGP13.6bn. 

The data business accounted for around 30 per cent of this income and the operator said it aims to increase that figure to 35 per cent in the 2019 business year.

Metwally added that there is no immediate requirement for a new licence. “At the moment we do not need new frequencies immediately, but we may need them in the future,” he said. Etisalat Misr is a subsidiary of Etisalat UAE.