Mohamed Nasr, Managing Director and CEO of Telecom Egypt, announced a significant $600 million, 10-year agreement with Hungary’s 4iG Group to develop a fiber network in North Africa. This infrastructure project aims to provide six million households with high-speed internet access.
The deal was signed during the Egypt-EU Investment Conference, inaugurated by Egyptian President El Sisi and EU President Ursula Von Der Leyen. According to the Memorandum of Understanding (MoU), Telecom Egypt and 4iG Group will form a joint venture to build, operate, and commercialize Fiber-To-The-Home (FTTH) and Fiber-To-The-Site (FTTS) networks on a wholesale basis in Egypt.
In the coming months, both parties will finalize the business model, ownership structure, governance processes, and technological details of the joint venture. This partnership aligns with Telecom Egypt’s plan to transform all areas into FTTH networks under the Ministry of Communications and Information Technology’s “Digital Egypt” strategy and supports Egypt’s Vision 2030 for a digitally transformed society and robust digital economy.
Mohamed Nasr praised the agreement, stating, “We are pleased to partner with 4iG Group. This endeavour will provide unparalleled performance and future-proof connectivity for generations to come, maintaining our position as one of the leading ICT providers in Egypt.”
Gellért Jászai, Chairman of 4iG Group, highlighted the collaboration as a strategic move to market their expertise internationally. “We have found the best partner in Telecom Egypt. The combination of the strengths and expertise of the two major companies foresees the success of the Egyptian fiber network development program. It also ensures the application of the latest technologies and innovations, establishing high-quality services across the country,” he said.
