November 12, 2020

Telecom Egypt awarded new spectrum package


Telecom Egypt has announced that the National Telecommunications Regulatory Authority (NTRA) has accepted and approved its financial and technical offer for additional spectrum that was submitted on the 17th of September, 2020.

The company is expected to receive 20MHz of spectrum in the 2600MHz band, utilizing TDD technology with a right of use of 10 years for $305 million to be paid as follows:

50% of the total value in USD upon signing the contracts,25% of the total value in USD or its equivalent in EGP according to the rate announced by the CBE at the time of payment, no later than one year after signing the contracts and 25% of the total value in USD or its equivalent in EGP according to the rate announced by the CBE at the time of payment, no later than two years after signing the contracts

This step comes in line with Telecom Egypt’s constant endeavor to improve the quality of its services by continuously developing its infrastructure and injecting new investments into the allocated spectrum. This will contribute to enhancing the company’s service quality and meeting its customers’ needs and aspirations. The acquisition of spectrum is also in keeping with Telecom Egypt’s strategy to transform from a fully integrated telecom provider to the leading ICT provider in Egypt.

Adel Hamed, Managing Director and Chief Executive Officer, commented: “We are very pleased with the approval of Telecom Egypt’s offer for additional spectrum, which will have an immediate and future positive impact on the company’s ability to reach the highest levels of service quality. This step will also lead to financial savings coming from cost reductions related to the services provided. Thanks to the new spectrum, Telecom Egypt will be able to accommodate the growing mobile customer base, which hit 6.7mn by the first half of 2020, and the associated hike in data services without compromising service quality, while providing the best value for money packages.”

africabusinesscommunities


Categories : telecom

Finance & Economy

Suqia UAE opens registration for 3rd cycle of the Mohammed bin Rashid Al Maktoum Global Water Award and adds a new category

2020-11-24 03:00:00

The UAE Water Aid Foundation (Suqia UAE), under the Mohammed bin Rashid Al Maktoum Global Initiatives, has opened registration"...
Read More

Egypt awards gold exploration tender to ...
November 23, 2020
Aton eyes up to $8M new investments in E...
November 23, 2020

Latest News



telecom

Preparations underway to purchase techni...
November 23, 2020
Orange eyes EGP 4B new investments next ...
November 23, 2020
Etisalat Takes Major Leap Toward an Auto...
November 23, 2020