Telecom Egypt has signed a memorandum of understanding (MoU) with Hungarian IT solutions provider 4iG Group to form a joint venture (JV) to construct a modern fiber network. This project, backed by $600 million in investments over the next decade, aims to build, operate, and market fiber-optic infrastructure for wholesale purposes in Egypt, offering high-speed internet connections directly to homes (FTTH) and businesses (FTTS).

This partnership supports Telecom Egypt’s initiative to develop FTTH networks as part of the “Digital Egypt” strategy, in line with Egypt’s Vision 2030. Additionally, connecting mobile sites with fiber infrastructure will enhance mobile networks to meet increasing demands and facilitate extensive 5G deployments.

The companies will finalize the joint venture’s business model, ownership structure, governance processes, and technological details in the coming months.

In January 2024, Telecom Egypt became the first telecommunications company in the country to secure a 5G license, after being granted a 15-year license for $150 million by the National Telecommunications Regulatory Authority (NTRA).

Mohamed Nasr, Managing Director and CEO of Telecom Egypt, stated that this agreement will accelerate Egypt’s digital transformation by creating a future-ready network that will support 5G and other next-generation services such as IoT and enterprise networks.

In February 2024, the companies also agreed to collaborate on building a direct subsea cable linking Albania to Egypt, establishing a high-capacity connection between Africa, Asia, and Europe.

Additionally, the Information Technology Industry Development Agency (ITIDA) signed a memorandum of understanding with Telecom Egypt and Nokia. This partnership aims to expand Nokia’s operations in Egypt and enhance its innovation and export services capabilities.

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