Etisalat to invest EGP 4.5 bn this year, including EGP 3 bn to modernize network

Etisalat Misr plans invest in EGP 4.5 bn this year including EGP 3 bn to modernize its network, CEO Hazem Metwally tells Reuters. The company is also working to grow its internet services revenue, which it wants to see at 35% of total revenues this year (against 30% in 2018) as it works to make up for a falling subscriber base. Etisalat, like other players, has been hit by the government’s decision to hike regulatory fees for new mobile lines by EGP 50. Etisalat is also looking to roll out fixed-line service in the next two years, Metwally said.