Telecom Egypt studies financing options to cover its future expansions

 Telecom Egypt (TE) explores ways to secure the necessary funds for its upcoming expansions, including securitization bonds, according to Adel Hamed, CEO and Managing Director of Telecom Egypt.

Hamed said in an interview with Daily News Egypt that the company was able to achieve $2bn worth of revenues during the past five years at an average of $400m annually, which contributed to covering a large part of the company’s investment expenses.

How did the high price of the dollar affect the operating costs of TE? What is the company’s vision to overcome this challenge?

Telecom Egypt was not negatively affected by the rise in the dollar price. The company is studying several ways to obtain the funds necessary for its expansions and investments, on top of which is the issuance of future rights securitization bonds.

The company also achieved dollar revenues during the past five years, with a value exceeding $2bn, with an average of $400m annually.

Revenues in foreign currency contributed to covering a large part of the company’s investment expenses, and it seeks further growth in international communication services.

After rebranding, what message does the company want to send to its customers?

The rebranding and slogan change to “Like No Other” comes in line with the company’s plan and strategy during the next stage and its transformation from the first integrated telecom operator to the first digital telecom operator and the provision of innovative and different digital solutions and services that contribute to the promotion of the digital economy, and the acceleration of the pace of transformation towards the digital society.