Vodafone Egypt’s Annual Revenues are worth EGP13bn

CEO of Vodafone Egypt S.A.E Hatem Dowidar said the volume of the company’s annual revenues are worth around EGP13 billion.

Vodafone’s financial statements revealed that the size of the debt owed to Vodafone ups zero, stressing that it signed a credit facility with banks today, the size of the debt does not exceed 30% of the total annual revenues of the Company.

During the sign of credit facility with the 7 banks today, Dowidar noted that the EGP4 billion credit facilities will be go for financing the company’s investments by the upcoming 3 years, adding that it will finance the new licences including International Gateway worth EGP1.8 billion, Fixed Mobile phone and other in the frame of Unified Licence.

Amwal Al Ghad published today the bank’s stakes in the loan which distributed as EGP900 million in favor of Banque Misr, EGP650million for each of Commercial International Bank (CIB) and AlexBank, EGP600 million in favor of HSBC in addition to Emirates NBD and QNB-AlAhli which participated with EGP400million for each bank.

The company is aiming to exploit the loan as credit facilities to cover its needs in developing mobile phone network and improving services, it may allocate part of loan to go for financing the unified licence.