Telecom Egypt (TE) signed a 10-year agreement with Banque du Caire to connect 156 branches using fiber optic technology, thus providing a data speed of 10 gigabytes per second.
This is the biggest telecom services deal in Egypt’s banking sector.
Mohamed El-Nawawy, CEO of TE, said in a statement that TE is committed to offer its clients with the latest solutions and technology plans, in addition to an integrated telecom service after obtaining a licence for mobile services.
Late in 2013, TE signed an EGP 55 million agreement with Commercial International Bank (CIB) to provide a service that would give the bank’s data centre a data speed of 10 gigabytes per second using fiber-optic technology, according to a statement from TE.
TE had signed an agreement with the National Bank of Egypt (NBE) earlier in November to upgrade the bank’s network to a fiber-optic infrastructure. It has also announced cooperation with Al-Futtaim Real Estate Group to supply its project, “Cairo Festival City”, with telecommunications, data transfer and “Triple Play” services, using advanced fiber-optic technology.