CAIRO: “Vodafone Egypt plans to invest EGP 9.5 billion during the next three years to develop its networks infrastructure,” Vodafone Egypt CEO Ahmed Essam said Sunday.
“The planned investments are meant to combat power outages, provide better services to clients, achieve leadership in the field of networking, as well as to preserve the data flow performance,” Essam said.
“The company is expanding its businesses to include clients in European and Arab countries,” Essam said in a Sunday statement to MENA.
Vodafone does not mind the presence of unified licenses as long as the license is issued fairly and with transparent rules, he added.
However, CEO of the Egyptian Company for Mobile Services (Mobinil) Yves Gauthier said in a May press conference that the current situation in Egypt is inappropriate for offering new licenses for telecom companies.
In April, the Egyptian Ministry of Communications announced granting fixed line monopoly operator Egypt Telecom, 80 percent owned by the state, a unified license. With it, it would have the right to offer mobile services over competitors’ mobile-phone networks without including any new frequencies for 2.5 billion EGP.
License regulations state that Telecom Egypt Co. will be started to establish and rent telecommunications infrastructure and mobile operators Vodafone Egypt, Orange SA (ORA)’s Mobinil, and Emirates Telecommunications Corp.’s Etisalat Misr will be allowed to participate in it.
Mobinil signed a a loan agreement with four banks including National Bank of Egypt (NBE), Industrial Development and Workers Bank of Egypt, Egyptian Gulf Bank and Bloom Egypt, worth 815 million EGP, Al-Ahram Arabic website reported Sunday. The agreement has the possibility of raising the value of the loan to 1 billion EGP in the future.
The loan aims to expand its mobile network and capital, Mobinil said in a Sunday press statement.