VENTURES AFRICA – Vodafone Egypt has signed a three year agreement with Ericsson, a leading global communication technology company, to help manage and improve quality of its network in Cairo, Egypt’s capital city.
This comes after Vodafone announced last month that it plans to invest LE9.5 billion ($1.3 billion) over the next three years to improve network.
The agreement between Vodafone Egypt and Ericsson is the first of its kind for Vodafone.
Egypt is also yet to finalize a long awaited unified license for telecom companies that will allow the three existing mobile operators to offer landline services and Telecom Egypt to offer mobile services.
Mobinil, an Egyptian telecom mobile service provider, last month announced that it has signed a LE815 Million ($114 million) syndicated loan with four banks to finance a capital expansion and improve network.
Etisalat Misr, a subsidiary of Etisalat UAE, also plans to launch an Initial Public Offer (IPO) to source $500 million – its highest in five years.