The information and communications technology (ICT) sector achieved a growth rate of 12.5% in the fiscal year (FY) 2016/2017, according to the economic performance indicators announced by the Ministry of Planning, Follow-up, and Administrative Reform.
The ICT sector’s contribution to gross domestic product (GDP) reached 3.2% in FY 2016/2017, while Egypt’s outsourcing industry of ICT services increased to a value of $1.87bn in the same period.
The number of mobile subscribers in Egypt declined to 99.39 million in September, down from 99.5 million in August, according to a report by the Ministry of Communications and Information Technology.
According to the ministry report, there are 42.3 million subscribers to Vodafone, 33 million subscribers to Orange Egypt, and 24 million subscribers to Etisalat Egypt.
ICT Minister Yasser Al-Qadi dismissed any intention to sell Telecom Egypt’s share in Vodafone Egypt, asserting that not even a part of the 45% share would be sold.
The minister noted that the company actually plans to expand its investments inside and outside Egypt to provide integrated telecommunications services.
His statement came in response to some media reports that claimed that Eagle Capital Corporation offered to buy Telecom Egypt’s stake in Vodafone Egypt.