Said Al Hamili, CEO, Etisalat Misr, revealed that the volume of his company’s investments in the Egyptian market exceeded EGP 30 billion, amid continued expansion plans, especially in infrastructure.
The telecom operator is aiming to inject fresh investments of around EGP 10-12 billion over the coming five years, the top official told Al-Bayan newspaper.
Al Hamili called upon the Egyptian government to support investors, especially as regards infrastructure, telecommunications, roads and electricity, saying Egypt has strong potential for growth.
Egypt has a very promising economy and expected investment opportunities, backed by political and economic stability, according to the top official.
The CEO stressed that Etisalat Misr gives Egypt top priority as the biggest strategic market in the Arab region.
UAE-listed Emirates Telecommunications Corporation (Etisalat) said earlier its Egypt-based subsidiary Etisalat Misr is considering an IPO on the Egyptian Exchange (EGX). Etisalat Misr has appointed EFG-Hermes to prepare for a USD 500 million IPO, according to news reports.