Vodafone Egypt invests $219.3 million in FY2018/19

Mobile network operator Vodafone Egypt invested nearly 3.8 billion Egyptian pounds ($219.3 million) during the financial year 2018/2019, a senior official in the firm said on Monday.

“We have also invested around 10 billion pounds over the past three years to modernise our networks and raise the efficiency of services nationwide,” external affairs and legal director Ayman Essam further said.

In 2018, Vodafone Egypt pumped investments of 3.8 billion pounds up from 3.4 billion pounds in 2017 because of the high costs of operating the service, Essam told Amwal Al Ghad.

The cost of establishing a station for a cell tower is currently estimated at 2 million pounds against 1 million pounds before the liberalisation of the Egyptian pound exchange rate during November 2016, he added.