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Monday, 21 June 2021

Telecom Egypt workers protest company's alleged corruption

Employees plan a Friday march to Tahrir Square to demand the removal of the company's management in a bid to end what they call 'rampant corruption'

Ahram Online, Thursday 30 Jun 2011
Telecom Egypt
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A group of Telecom Egypt (TE) workers plan to stage a Friday protest in front of company offices at Ramses Central from 10am till 3pm to denounce what they call the firm's  "rampant corruption".

The coalition of Telecom Egypt Workers for Change, organisers of the demonstration, later plan to march to Tahrir Square. Protesting workers are demanding the company stop wasting public funds and that it a corruption purge is necessary to reform the firm.

Workers of Egypt's only landline provider are also demanding the removal of the company's board of directors and management. The protesting group announced in a statement on Thursday that they chose to stage their protest on Friday so as not to be accused of obstructing work flow.

TE is witnessing strong revenues for the year reflecting the sharp increase of internet use in Egypt after the country's unrest, which was initially triggered by internet activists. Credit Suisse upgraded the company to "outperform" on Wednesday.

However the company on Thursday reported heavy fixed asset losses amounting LE62.7 million due to damages and theft resulting from the security vacuum in the aftermath of the January 25 Revolution. 

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