Vodafone Egypt and Telecom Egypt bought fresh spectrum for a total of $1.17 billion, as both operators push on to upgrade services by boosting their respective networks.
Egypt’s National Telecommunication Regulatory Authority (NTRA) detailed in a statement it approved 40MHz of 2.6GHz TDD spectrum for $540 million, for a license period of 10 years through to 2030.
Telecom Egypt bought 20MHz in the same band for $305 million and another 20MHz for $325 million, both also licensed until 2030.
Hussam El-Gamal, NTRA CEO said the watchdog expects the move to spur operators to make new investments into developing infrastructure, to in turn boost communication services and support Egypt’s digital transformation.
Adel Hamed, Telecom Egypt managing director and CEO said” “We are very pleased with the approval of Telecom Egypt’s offer for additional spectrum, which will have an immediate and future positive impact on the company’s ability to reach the highest levels of service quality.
“This step will also lead to financial savings coming from cost reductions related to the services provided. Thanks to the new spectrum, Telecom Egypt will be able to accommodate the growing mobile customer base, which hit 6.7 million by the first half of 2020, and the associated hike in data services without compromising service quality, while providing the best value for money packages.”
Vodafone Egypt said in a statement: “The spectrum will enable Vodafone Egypt to significantly expand network capacity to meet growing demand for reliable, high quality voice and data services.”