Vodafone Egypt to invest $1.3billion over 3 years
Vodafone Egypt will invest around E£9.5 billion ($1.3 billion) over the next three years to improve its network, its recently-appointed chief executive officer said.
Vodafone Egypt, majority owned by British mobile operator Vodafone, will finance the plan from existing funds, Ahmed Essam told a news conference in Cairo late on Sunday.
Vodafone Egypt, which is also 45 per cent owned by fixed-line telecoms firm Telecom Egypt, is the leading communications player by customer numbers in the country of 86 million.
Egypt is finalising the details of a long-awaited unified licence which will allow firms to offer both mobile and landline telecommunications.
To gain access to Telecom Egypt’s fixed line network is expected to cost E£100 million.
Vodafone Egypt is still studying the possibility of offering landline services and has not reached a decision, Essam said.