Vodafone Egypt secures EGP4bn loan

25 Nov 2014

Vodafone Egypt has put pen to paper on a financing deal said to be worth EGP4 billion (USD563 million), Ahram Online reports. It is understood that seven banks were party to the deal, those being: Banque Misr, Alexandria Bank, CIB (Egypt), HSBC, QNB, Barclay’s and Emirates NBD Egypt. Commenting on the use of the funds, the operator’s chief executive officer Hatem Dowidar was cited as saying that the ‘credit facility will help modernise Vodafone’s network and that part of it may be used for any new license that Vodafone might consider’.

Egypt, Vodafone Egypt