Browsing: Telecom in Egypt

Helios Towers—UK based telecommunications company anticipates using around $450 million in new funds to increase its operations in Africa’s telecom sector, including Africa’s fast-growing economy Ethiopia, according to Bloomberg News.

The London listed telecom company which Q1 2020 financial show revenue increased by 9 per cent, is eyeing on capturing the region’s telecom potential, which has grown substantially over the past decade, especially in East and West African countries.

By the end of 2018, there were 456 million unique mobile subscribers in Sub-Saharan Africa – an increase of 20 million over the previous year and representing a subscriber penetration rate of 44 per cent, according to GSMA 2019 report.

Hence, the company looks forward onto Ethiopia’s process of opening its telecom industry to private investors, with two new mobile licenses up for auction alongside a minority stake in the state monopoly.

According to Bloomberg News, Helios Chief Financial Officer Tom …