Vodafone allocates EGP 5bn for the Egyptian market: Essam

Egypt has turned into an attractive market to invest in infrastructure and digital transformation

Vodafone Egypt allocated EGP 5bn worth of investments in the Egyptian market this year until the end of next March.
Ayman Essam, director of external relations at Vodafone, said that Egypt has become an attractive country for investment in infrastructure and digital transformation.
He told Daily News Egypt, that the company has developed a strategy for its work in Egypt based on three axes which are: transformation to a digital society, access to the digital economy and financial inclusion, and the use of Internet of Things technology.
Essam revealed that the company has invested more than EGP 45bn in Egypt locally, and we plan to increase our investments in the Egyptian market in the coming period by nearly EGP 5bn.
Especially after Egypt became an attractive country for investment in the field of infrastructure and digital transformation.
Furthermore, he explained that Vodafone's strategy focuses on digital transformation and supports the Egyptian government in the process of digital transformation, through the adoption of the latest technology and technological methods.
Regarding the company's challenges, he explained that the main challenge is to create more mobile towers to improve the services provided to the user, as the company faces a challenge in the system of issuing permits and approvals.
The time required to obtain approvals from the concerned authorities for the construction of mobile towers can sometimes be three months and requires dealing with more than four different parties, which is contrary to the directions of the state to work as quickly as possible to develop mobile services, network quality, and infrastructure.
Essam applauded the reforms taken by the Egyptian government in recent years, adding that by being in third place in the fastest-growing countries, it means that growth has improved rapidly in the last three years compared to other countries.
"We believe that Egypt has become an investment centre that attracts many international investors as well as a global investment destination for international and regional ICT companies."
These things led us to develop a plan to increase our investments in the Egyptian market in the coming period by 10%.
Finally, he explained that Vodafone made numerous requests for new frequencies, all of which are under discussion with the Search Results Web results National Telecom Regulatory Authority.
"We must clarify that the availability of new frequencies is an essential element for the development of services and work to achieve the desired digital transformation in the Egyptian market. It enables us to participate actively in various state projects that require sophisticated technological solutions," he told DNE.
Noting Egypt's telecom sector, Essam believes that certainly, there are many projects and investment opportunities available in the ICT sector in Egypt. This comes from the efforts exerted by the state to create an investment climate to attract more investments and stimulate international companies to be present and expand in the Egyptian market. Currently, the volume of exports of digital services is about $ 3.6bn.