Etisalat Misr to inject EGP 5bn new investments during 2021

Etisalat Misr plans to invest worth 5 billion Egyptian pounds to the Egyptian market during 2021, according to the company’s CEO Hazem Metwally.

He told Amwal Al Ghad in interview that Etisalat Misr will focus on expanding investment in modern technologies such as the Internet of Things (IoT), cloud computing, and artificial intelligence (AI).

He noted that the novel coronavirus (COVID-19) pandemic has resulted into altering the global investment map, he added that particularly the electronic payment sector has witnessed a strong growth which led to an expansion in the state’s plans to achieve financial inclusion.

He added the company follows a coherent strategy for improving all state sectors by providing a variety of services to fulfil the needs of its customers, including individuals, corporate customers and government bodies.

Etisalat succeeded in obtaining a new set of frequencies in the 2,600 Time Division Duplex (TDD) frequency band, under the usufruct system for a period of 10 years, Matwally added. This came after the National Telecom Regulatory Authority (NTRA) approved the financial and technical offer of the company, which was worth $325m.