Vodafone Group to invest USD1.3bn in Egypt by 2017

21 Mar 2014

Vodafone Group is reportedly planning to invest EGP9 billion (USD1.29 billion) in Egypt by 2017, in order to strengthen and improve the quality of its networks, the Cairo Post reports. According to the article, Atef Helmy, Egypt’s Minister of Information Technologies and Communication, met with Serpil Timuray, CEO of Vodafone’s operations in Africa, Middle East and Asia-Pacific (AMAP), and Vodafone Egypt’s CEO Hatem Dowidar, to discuss issues relating to the country’s telecoms sector. Helmy also addressed recent Vodafone threats to resort to international arbitration to solve problems arising from the introduction of unified licences.

As previously reported by TeleGeography’s CommsUpdate, in early March Vodafone Group announced that it may consider international arbitration should the Egyptian government approve legislation under which fixed line incumbent Telecom Egypt (TE) will gain access to the country’s mobile networks. The group’s statement said that ‘all outstanding issues to ensure fair and equitable treatment across the industry’ should be assessed by the Egyptian authorities prior to granting such approvals’.

Egypt, Vodafone Egypt, Vodafone Group