Telecom Egypt has announced that National Telecommunications Regulatory Authority (NTRA) has accepted and approved the financial and technical offer for additional spectrum that the operator submitted in September 2020. As a result, the operator has confirmed it now expects to receive a 20MHz block of spectrum in the 2600MHz band, utilising TDD technology, with the new frequencies to be valid for a ten-year period. It will pay a total of USD305 million for its new spectrum, with half of that to be paid in US dollars upon signing the contracts for it. Meanwhile, two further instalments – each for 25% of the total cost and to be paid either in US dollars or the equivalent in Egyptian pounds – are due within one year and two after the signing of the contracts.
Commenting on the matter, Adel Hamed, Managing Director and Chief Executive Officer at Telecom Egypt, said: ‘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.’