REG - Telecom Egypt S.A.E - TE secures the first 5G license in Egypt

Telecom Egypt Co SAEAnnouncement

17/01/2024 16:00

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RNS Number : 0514A  Telecom Egypt S.A.E  17 January 2024

Telecom Egypt secures the first 5G license in Egypt

17 January 2024: The National Telecommunications Regulatory Authority (NTRA)
has granted Telecom Egypt the country's first license to install and operate
fifth generation (5G) networks for mobile phones at a cost of USD 150m. The 5G
license will be valid for a 15-year period.

Noting the importance of keeping up with world technology trends, Telecom
Egypt took this step to expedite the nation's digitalization process and
foster the expansion of various industries' advancements, which will
ultimately benefit the entire economy and improve Egypt's international
ranking in the ICT sector.

5G technology will provide lower latency, higher capacity, and increased
bandwidth, which will improve the overall customer experience thanks to
seamless connectivity, particularly during periods of usage spikes. Businesses
will also be able to  better analyze big amounts of data, helping them to
improve their efficiency and scale up.

 Mohamed Nasr, Managing Director and Chief Executive Officer at Telecom
Egypt, commented:

"We are delighted that Telecom Egypt's has been awarded the first 5G license
in Egypt. 5G is the backbone of future technology development, and when
combined with other technologies, e.g. fiber optic technologies,  will
revolutionise our everyday life and transform the way businesses perform.
Being the first company to receive this license also reinforces the strength
of our infrustructure and our ability to provide the best service in the
market. Our capital expenditure over the past few years is bearing fruit. We
plan to leverage our licenses to our advantage to enhance the customer
experience, fulfill the expectations of both consumers and businesses, while
maximizing shareholder value."

 

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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

Email: investor.relations@te.eg (mailto:investor.relations@te.eg)

 

 

 

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