Etisalat Egypt gains EGP4 billion for expansion

07 March 2023

Etisalat Egypt has signed a EGP4 billion financing agreement with Commercial International Bank, with the operator set to use the cash to expand infrastructure and push digital services.

The cash will help efforts to meet the changing needs of consumers in the market, including growing data usage alongside creating so-called innovative digital services.

It also cited a wider aim to support the Digital Egypt project, a state-promoted initiative to push digital transformation and promote related skills in the country’s population. It is broadly aligned with Egypt’s Vision 2030 economic ambitions.