Telecom Egypt to spend $450 million on infrastructure and Internet services

Global Business

Since the introduction of mobile phones in Egypt in the mid 90s, fixed lines usage has dropped. Estimates show over 40 percent less use of fixes lines. Three private operators are running the mobile market in Egypt raking in over 100 million clients. Mohem Sayed filed this report from Cairo.

Telecom Egypt to spend $450 million on infrastructure and Internet services

Telecom Egypt to spend $450 million on infrastructure and Internet services

Since the introduction of mobile phones in Egypt in the mid 90s, fixed lines usage has dropped. Estimates show over 40 percent less use of fixes lines. Three private operators are running the mobile market in Egypt raking in over 100 million clients.

Highlights:

  • Fixed lines are monopolized by the state-owned Telecom Egypt which services 35 million clients.
  • In spite of posting a 31 percent drop in profits in 2014, it announced a 10 percent increase in revenues from its Internet services.
  • Telecom Egypt will spend $450 million in 2015 to strengthen it’s infrastructure and high speed Internet services and plans to expand further.
  • It will re enter the mobile market and could become the fourth largest mobile operator in the country in 2015.
  • Telecom Egypt estimates a growth of 30 percent once the mobile division begins and the high speed home Internet lines are installed.