Mobile telephone operator Etisalat Misr, a subsidiary of the Emirati telecoms group Etisalat, and major operator in Egypt , intends to spend 4.5 billion Egyptian pounds (US$283-million) in 2020 on the North African country’s telecommunications market.

Hazem Metwally, CEO of Etisalat Misr said the company plans to modernise its network and invest in new high potential market segments.

“This investment will help upgrade networks, improve services and expand the company's business in data, supporting the Internet of Things and artificial intelligence,” he added.

Metwally discussed plans during a meeting with Mohamed Abdel Wahab, executive director of the Egyptian General Authority for Investment and Free Zones (FATF).

Egypt is Etisalat Group’s fourth largest market in terms of value. In H1 of 2020 that ended 30 June, Etisalat Misr reported income of US$537-million, representing 7.7% of Etisalat Group’s total revenue (US$6.97-billion) in the same period.

Etisalat Misr has been operating in Egypt since 2007 and Metwally added that the company has already invested about 50 billion Egyptian pounds in the North African country.

“Etisalat Misr is determined to meet the growing demand from customers for value-added services and also to position itself in new market segments with high potential,” Metwally said.

Early July 2020, ITWeb Africa reported Etisalat Misr has partnered with real estate developer Misr Italia Properties, for the provision of telecoms infrastructure at Cairo Business Park located in the New Cairo City.

A month earlier, the operator announced two agreements with Telecom Egypt to facilitate the interconnection of fixed and mobile telecommunications.

Aside from the agreement on mobile-to-fixed termination, they also secured a deal valued at 2-billion Egyptian pounds (approximately US$125-million), that enables Etisalat Misr to use Telecom Egypt’s infrastructure and network transmission services.