State-owned Telecom Egypt has signed an MoU with systems integrator Fiber Misr to collaborate on providing submarine communications cable services, according to a CIT Ministry statement. The two companies will work together to service submerged fiber optic cables in the Mediterranean, Red Sea, Arabian Gulf, and off the coast of East Africa. They will periodically repair, install, inspect, recharge and store the cables, as well as provide logistics support to deep-sea vessels on duty.
More from Enterprise
Banque du Caire’s blockbuster IPO holds firm against EGX selloff
The IFC and the EBRD are in for USD 100…
Can AI promise Egypt’s lenders more borrowers and fewer bad loans?
Banks are cautious about letting AI judge a borrower. Local…
Egypt’s funds crossed EGP 500 bn in 3Q on retail money and a stalling core
Money market funds stalled while retail piled into equity, index,…
DPI closes Egypt-born fintech fund Nclude at USD 112 mn
The final close adds roughly USD 7 mn to a…