Etisalat Misr to invest EGP 4.5 bn in Egypt to next year

INVESTMENT WATCH- Etisalat Misr appears to be following through on plans to invest EGP 4.5 bn in Egypt next year, after Chief Corporate Affairs Officer Khaled Hegazy said yesterday that the mobile network operator will invest the sum in the modernization of its network, according to Al Mal. CEO Khaled Metwally told Reuters earlier this year that Etisalat would deploy EGP 4.5 bn in Egypt this year. According to Hegazy, the bulk of the investments will be dedicated to developing smart applications and data transfer services. Separately, Hegazy said Etisalat is ready on the technical front to begin offering 5G services once it becomes available in Egypt.