Vodafone announces $1.3bn investment in Egypt

Three-year commitment to focus on national network overhaul

Tags: EgyptVodafone Group
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Vodafone announces $1.3bn investment in Egypt (Getty Images.)
By  Stephen McBride Published  March 23, 2014

UK-based Vodafone is planning to invest EGP9bn ($1.29bn) in Egypt by 2017, the Cairo Post reported.

The spending will concentrate on shoring up network speed and stability, according to the Post.

Atef Helmy, Egypt's Minister of Information Technologies and Communication, reportedly 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 the current state of the country's telecoms sector.

Helmy is also said to have addressed recent Vodafone threats to seek international arbitration over problems arising from the introduction of unified licences. Vodafone's concerns arose when the Egyptian government announced fresh legislation, yet to be approved, that would cede access to the country's mobile networks to fixed-line incumbent Telecom Egypt (TE), which is yet to be granted a mobile licence.

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