Hazem Metwally, Chief Executive of Egyptian telecoms company Etisalat Misr, explained that the company 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. according an interview with Reuters.
Metwally, reported that part of the growth target for this year involves increasing the proportion of internet services revenue to 35 % from 30 %.
Hazem Metwally, Executive Director of Egypt Etisalat
In addition, the firm is expected to pay a dividend on this year’s earnings as it also did in 2018, if there is no impact on the exchange.
Meanwhile, the company revenue rose about 16 % in 2018 to around 13.6 billion Egyptian pounds, according to financial statements from the original company.
Noteworthy, the company’s number of customers has been greatly affected by the development fee, as have its sales line, adding that Etisalat Misr has around 27 million customers compared with around 31 million at the end of 2018.