Telecom Egypt CEO Mohamed al-Nawawy announced Wednesday the company will be expanding into the mobile network industry, launching a fourth network on the market within three weeks. Al-Naway expects to attract some 1.5 million subscribers during the first stage of its launch.
At a news conference, Nawawy said the company will provide the service through 2,000 outlets in various parts of the country. He stressed that Telecom Egypt has achieved the highest revenue since 160 years, LE5.4 billion in the first half of this year, with a net profit of LE1.7 billion.
There are currently three other mobile phone providers in Egypt: Vodafone, Mobinil and Etisalat. Telecom Egypt is the sole landline service provider in Egypt.
Edited translation from Al-Masry Al-Youm