Etisalat Egypt signs EGP 4bln financing agreement with CIB

By Nada Ali On Feb 1, 2023

Etisalat Egypt and CIB — Hazem Metwally, CEO of Etisalat Egypt; Ehab Rochdy, CFO of Etisalat Egypt; Amr El Ganainy, CIB’s CEO Institutional Banking; and Soha Abou Zikry, Head of Global Customer Relations Group. Photo Credit: Etisalat Egypt

Etisalat Egypt by e& a has signed 4 billion Egyptian pounds financing agreement with Commercial International Bank (CIB Egypt) to support the company’s ambitious expansion plans, within the framework of the evolved corporate identity of e&.

The agreement aims to support Etisalat Egypt’s expansion plans to unleash its potential in providing innovative services that meet the ever-changing needs of customers and create services that rely on the latest technology advances.

“Etisalat Egypt is keen on investing in infrastructure that provides the best integrated technology services to our customers, and keeps pace with the huge increase in data usage rates across Egypt,” said Etisalat’s CEO, Hazem Metwally.

The financing agreement reflects CIB’s role in supporting businesses in the ICT sector, and will further contribute to achieving Etisalat Egypt’s strategy, said CEO of the bank, Amr El Ganainy.

CIB’s leading position in sustainability provides the necessary funds for businesses that will accelerate Egypt’s pace of digital transformation in line with the country’s plans to achieve sustainable development.