According to a recent press release, Telecom Egypt and Etisalat Misr have signed six commercial, strategic agreements to enhance cooperation in the infrastructure and roaming sectors, totally worth over USD 912 million.
As per the agreement, Telecom Egypt will provide Etisalat Misr with a range of services that include infrastructure, access and voice services, aimed at enhancing Etisalat’s quality of services.
The agreements include a ten year term transmission deal valued at EGP 12.5 billion to expand the Etisalat Network over the Cairo-based company’s infrastructure.
The two operators have also signed an FTTS (fiber to the site) agreement, which will see Telecom Egypt providing access services with massive capacity on optical fiber for Etisalat mobile towers.
Both the operators have signed an amendment to the National Roaming Agreement, signed earlier in 2017, which will allow the Egyptian company to expand capacity on Etisalat Misr’s network from 2022.
MD and CEO of Telecom Egypt, Adel Hamed, said that the company had been investing heavily in upgradation of its backbone network. He also said that the company was striving to maximise the returns of its investment in infrastructure, while continuing to serve the telecom market in the region.
In the first quarter of 2022, the consolidated profit of the company amounted to EGP 1.36 billion, compared to EGP 2.12 billion for the corresponding period in the previous year.
Telecom Egypt is the region’s largest operator of sub-sea cables, and the first integrated telecom operator in Egypt.
The company, based in Cairo, is listed on the Egyptian Stock Exchange (EGX), and has operations in a range of sectors like marine cables, communications, internet services, infrastructure, and outsourcing services. In addition, the company offers a range of fixed-line and retail telecom services, as well as wholesale telecommunications services in the region.
Etisalat Group is one of the world’s leading telecom companies in emerging markets. In 2020, a consolidated net revenue of AED 51.7 billion with a consolidated net profit of AED 9 billion ensured high credit ratings that reflect the company’s robust balance sheet and proven long-term track record.
Etisalat is headquartered in Abu Dhabi, and was established as the first telecommunications provider in the UAE over four decades ago. As a blue chip organisation, the company provides a wide range of innovative services and solutions to over 155 million subscribers in 16 countries spread across the Middle East, Africa and Asia.
Brand Finance has ranked Etisalat as the strongest brand across all categories in the Middle East and Africa.
About Telecom Egypt
The Cairo-based operator aims to reshape the future of communication services in the region with world-class customer-centricity, attraction and retention of extremely talented employees to maximise shareholder value.
The company is committed to being the best source of total communications solutions, dedicating its resources to build a better tomorrow for its employees and the community as a whole. It aims to achieve this with honest business practices and responsive services.