Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Taheel, in partnership with Telecom Egypt, has launched a training program focused on English proficiency and basic computer skills for persons with disabilities (PwD). The initiative aims to equip 500 participants with skills to help them secure jobs, enhancing their competitiveness and supporting their integration into the workforce.
Telecom Egypt reported a 5.59% YoY decline in consolidated net profit for the first nine months of 2024, totaling EGP 8.637 billion. Operating revenues rose to EGP 58.43 billion. The company’s standalone profit also decreased during the same period, reflecting a challenging year for the telecom operator.
Telecom Egypt and Vodafone Egypt have signed strategic agreements valued at EGP 30 billion to enhance infrastructure and support the launch of 5G services. The partnership aims to expand fibre-optic networks and improve mobile network capabilities, contributing to Egypt’s growing ICT sector and 5G rollout.
Telecom Egypt and Alcatel Submarine Networks have successfully landed the Africa-1 subsea cable at Ras Ghareb, Egypt, boosting connectivity across Africa, the Middle East, and Europe. This 10,000-kilometer, high-capacity system aims to enhance global data capacity and resilience for bandwidth-intensive needs.
Telecom Egypt and Alcatel Submarine Networks have successfully landed the Africa-1 subsea cable system at the Ras Ghareb cable landing station. This initiative, part of a larger project to enhance connectivity across the Middle East and Africa, is expected to boost broadband capabilities and meet growing demand for high-speed communications.
Telecom Egypt has signed a cooperation agreement with Mobily to establish the first submarine cable linking Saudi Arabia and Egypt. This new cable, which will run through the Red Sea, aims to enhance connectivity and facilitate expansion to Europe, improving telecom services for both countries.
Telecom Egypt has clinched an EGP 18 billion syndicated loan led by 13 banks to refine its financial structure and support expansion. This strategic financial maneuver is set to enhance the company’s liquidity and align its long-term growth strategies with improved financial management practices.
Egypt has improved its global fixed internet speed ranking, reaching an average speed of 76.38 Mbps in September 2024, now placing 70th worldwide. The communications sector continues to enhance internet services, with Telecom Egypt winning the Best Global Connectivity Provider-Data award at the Global Connectivity Awards.