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Telecom Egypt and 4iG Group are set to finalize the business model, ownership structure, governance processes, and technological details for a $600 million modern fiber network joint venture in the coming months.
This partnership supports Telecom Egypt’s initiative to develop fiber-to-the-home (FTTH) networks across various regions, in line with the “Digital Egypt” strategy and Egypt’s Vision 2030. The fiber infrastructure will enhance mobile networks, addressing growing demands and enabling extensive 5G deployments.
In January 2024, Telecom Egypt became the first telecom provider in Egypt to secure a 5G license after the National Telecommunications Regulatory Authority (NTRA) granted a 15-year license for $150 million.
Mohamed Nasr, Managing Director and CEO of Telecom Egypt, stated that this agreement will accelerate Egypt’s digital transformation by establishing a “future-ready network that will ramp-up 5G and many other next-generation services such as IoT and enterprise networks.”
Gellért Jászai, Chairman of 4iG Group, highlighted that this development will allow the group to promote its expertise globally, aligning with its long-term business strategy. He noted that the partnership aims to create jobs, build a skilled workforce to support local businesses, and improve the quality of life for Egyptians.
In February 2024, the companies also agreed to collaborate on building a direct subsea cable linking Albania to Egypt, aiming to establish a high-capacity connection from Africa and Asia to Europe.
Meanwhile, the Information Technology Industry Development Agency (ITIDA) signed a memorandum of understanding (MoU) with Telecom Egypt and Nokia at an investment conference. This partnership aims to expand Nokia’s operations in Egypt and enhance its capabilities in innovation and export services.
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