REG - Telecom Egypt S.A.E - 2Africa Lands in Ras Ghareb, Egypt

Telecom Egypt Co SAEAnnouncement

22/11/2022 13:15

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RNS Number : 2481H  Telecom Egypt S.A.E  22 November 2022

2Africa Lands in Ras Ghareb, Egypt

 

Ras Ghareb, November 22, 2022:  As part of the 2Africa consortium, Meta and
Telecom Egypt announce the first landing of the 2Africa subsea cable in Egypt
at Ras Ghareb in the Red Sea, with another landing expected in Port Said in
the Mediterranean Sea at a later date. The Ras Ghareb landing is one of
several taking place in the coming months as the cable will be extended to a
total of 46 locations across Africa, Europe, and Asia by the completion of the
project in 2024.

Building on previous investments, Meta and Telecom Egypt's contribution to
2Africa enables more people who rely on the internet to have an improved
experience while promoting a more affordable internet for all.

Announced in May 2020, the 2Africa subsea cable system together with its
Pearls extension
(https://www.prnewswire.com/news-releases/2africa-extended-to-the-arabian-gulf-india-and-pakistan-301386304.html)
, are designed to deliver seamless international connectivity to approximately
three billion people, representing 36% of the global population and connecting
three continents: Africa, Europe, and Asia.

At 45,000km, it will be the longest subsea cable ever deployed, serving
communities that rely on the internet for services from education to
healthcare and business, with all experiencing the economic and social
benefits that come from this increased connectivity.  Subsea cables lay the
foundation for the global internet, connecting people and continents, and will
likely play a big part in the Middle East and Africa's ongoing development.

Subsea cables often translate into economic growth for the surrounding
population, benefiting individuals and businesses. For example, RTI
(https://www.rti.org/impact/analysis-economic-impact-subsea-internet-cables-sub-saharan-africa)
estimates that 2Africa will generate a USD 26.2 to 36.4 billion impact (at
purchasing power parities) on Africa's GDP within 2 to 3 years of becoming
operational.

Adel Hamed, Telecom Egypt's Managing Director and CEO, commented:

"We are very content with Telecom Egypt's continuous achievements in extending
its international infrastructure. We recently celebrated the landing of our
Red2Med cable system in Ras Ghareb, and today we are excited to announce the
first landing of 2Africa in the same location. The second landing in Egypt
will be in Port Said in a few months. Our contribution to 2Africa--as a
provider of hybrid crossing solutions (using the subsea route in the Red Sea
via Red2Med in addition to two brand new crossing terrestrial routes) and as a
consortium member--is another testimony of our commitment to provide unmatched
solutions and reach to our customers locally and internationally. We are
continuously investing in new infrastructure and developing dynamically to
increase our network resilience and broad reach to maintain our leading edge
in the region by offering our partners the best services and solutions."

Fares Akkad, Regional Director, Middle East and North Africa, Meta said:

"Connecting people is the very core of Meta's priorities, and access to faster
internet is no longer a luxury but an absolute necessity, as crystalized by
the COVID-19 crisis. The internet was integral to keeping our daily lives
running in some semblance of routine. In times of trouble, it is a tool for
survival, while during better times, it is essential to help economies across
the world thrive and raise the standards of living for large segments of
society. Investing in submarine cables brings more people online to a faster
internet, and 2Africa is a perfect example of our innovative partnership model
where everyone benefits through the development of technology infrastructure
to lead the industry in routes, capacity, and flexibility."

The Ras Ghareb landing will connect to the upcoming Port Said landing via two
terrestrial trans-Egypt routes adjacent to the Suez Canal. The crossing
solution, deployed with next generation fiber, will offer seamless optical
paths between Africa, Asia, and Europe. It is also complemented with the
subsea festoon in the Red Sea on Telecom Egypt's novel Red2Med cable system
connecting Ras Ghareb, Zaafarana, and Suez.

The 2Africa consortium is comprised of China Mobile International, Meta, MTN
GlobalConnect, Orange, STC, Telecom Egypt, Vodafone, and WIOCC.

 

- End -

 

About Telecom Egypt

Telecom Egypt is the first integrated telecom operator in Egypt providing all
telecom services to its customers including fixed and mobile voice and data
services. Telecom Egypt has a long history serving Egyptian customers for over
160 years maintaining a leadership position in the Egyptian telecom market by
offering its enterprise and consumer customers the most advanced technology,
reliable infrastructure solutions and the widest network of submarine
cables.  Aside from its mobile operation "WE", the company owns a 45% stake
in Vodafone Egypt. Telecom Egypt's shares and GDRs (Ticker: ETEL.CA; TEEG.LN)
are traded on The Egyptian Exchange and the London Stock Exchange. Please
refer to Telecom Egypt's full financial disclosure on ir.te.eg
(http://ir.te.eg/en/)

 

For more information, contact:

The investor relations team: investor.relations@te.eg
(mailto:investor.relations@te.eg)

 

About Meta

Meta builds technologies that help people connect, find communities, and grow
businesses. When Facebook launched in 2004, it changed the way people connect.
Apps like Messenger, Instagram, and WhatsApp further empowered billions around
the world. Now, Meta is moving beyond 2D screens toward immersive experiences
like augmented and virtual reality to help build the next evolution in social
technology.

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