Etisalat Egypt’s Revenues grow 2.6% at end-2014

Etisalat Egypt, the Egyptian arm of UAE’s telecom group Etisalat, registered revenues worth around EGP 10 billion (US$1.3 billion) by the end of 2014, marking a 2.6 % growth opposed to a year earlier.

The business results of Etisalat Egypt also showed that the firm witnessed growth rates compared to an earlier year backed by the increase in using internet through mobiles and the rise in number of subscribers using internet through smart phones.

Moreover, Etisalat Egypt has recently reached an agreement with Abu Dhabi Islamic Bank (ADIB) and HSBC to get loan worth US$120 million (US$ 60 million from each bank) to be repaid in 3 years.

The current ownership structure of Etisalat Egypt is; Etisalat U.A.E. with a share of 80% and the Egyptian National Post Authority with a 20% share.