CAIRO: Egyptian telecoms company Etisalat Misr aims to invest heavily in modernising its network this year and book a higher share of revenue from internet services as it works to offset the impact of a fall in its subscriber base, its CEO said.
The Egyptian unit's net profit jumped nearly 40 percent in 2018 to 1.16 billion dirhams , according to financial statements from the parent company, which is 60 percent owned by the UAE's sovereign wealth fund. However, he said progress was being hampered by a fee of 50 Egyptian pounds that the government imposed in mid-2018 for each new mobile phone line.
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