Telecom Egypt (TE) has announced that the National Telecommunications Regulatory Authority (NTRA) has accepted and approved the company’s financial and technical offer for 20 MHz of 2,600 MHz bandwidth with TDD technology.
The offer was submitted on 17 September 2020 with a usufruct for ten years of $305m that will be paid in three instalments. About 50% of the financial sum will be paid upon signature, with a further 25% to be made no later than a year from the date of signing. The remaining 25% will, in turn, be paid no later than two years from the date of signing.
This step comes as part of the company’s constant endeavour to improve the quality of services it provides to its customers, through the continuous development of its infrastructure. TE continues to inject new investments in the frequency spaces allocated in order to meet the evolving customer requirements and their future aspirations.
TE has also implemented a strategy of transformation from an integrated telecommunications service provider to the best provider of ICT services in Egypt.
In a press release on Thursday, TE Managing Director and CEO Adel Hamed stated that the company’s acquisition of the new frequencies will have a positive impact on its ability to reach the highest standards of service quality. This will come in addition to the financial savings that this will achieve from providing some expenses related to providing services.
He added that the new frequency spectrum will help the company absorb the continuous increase in its mobile customer base, which reached 6.7 million customers by the end of the first half of 2020. It will also allow TE to shoulder the accompanying increase in data transmission services rates, without compromising the quality of service.