Telecom Egypt initiates experimental deployment of 5G services in 5 locations in Egypt: CEO

Ahram Online , Saturday 20 Jan 2024

Telecom Egypt (TE) has announced the commencement of experimental operations for 5G services across five locations in Egypt to assess the service quality, Mohamed Nasr, the company's CEO, said on Friday.

5G services.
5G services.


Nasr further explained that the financial impact of 5G services is anticipated to manifest in TE's financial results by the end of 2024.

On Wednesday, the National Telecommunications Regulatory Authority (NTRA) sealed a $150 million agreement with TE, granting a 15-year license for the provision of 5G services.

During an interview with Asharq Business, Nasr expressed TE's readiness to deliver 5G services within the country in 2024.

The introduction of 5G services in Egypt will expedite the nation's digital transformation endeavors, offering enhanced download speeds, heightened network capacity, and seamless connectivity for numerous devices.

Regarding the sale of TE's broadcasting towers, Nasr noted that discussions are currently underway, with the company awaiting the most favorable offers to execute the sale agreement.

TE achieved a net profit of EGP 9.1 billion throughout the initial nine months of 2023, marking a 48 percent increase compared to the corresponding period of 2022.

This growth was driven by augmented revenues and a substantial expansion of its customer base.

Moreover, TE is part of the government's privatization programme IPO, which seeks to offer 35 state-owned companies to strategic investors by the end of June 2024, generating $5 billion in revenue.

A list of 32 companies was published in February 2023, and three more companies were later added: Eastern Company, Al Ezz Dekheila, and TE.

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