Telecom Egypt was granted the first 5G licence in Egypt from the National Telecommunications Regulatory Authority (NTRA), paying US$150 million for the 15-year licence.
The operator said in a statement, the licence is an important step to keep up with global trends and expedite Egypt's digital transformation, and advance its industries.
It added 5G technology will provide lower latency, higher capacity and increased bandwidth to overall improve the customer experience particularly during high usage periods.
Telecom Egypt managing director and CEO, Mohamed Nasr, said: “5G is the backbone of future technology development, and when combined with other technologies, e.g. fibre optic technologies, will revolutionise our everyday life and transform the way businesses perform.
“Being the first company to receive this licence also reinforces the strength of our infrastructure and our ability to provide the best service in the market. Our capital expenditure over the past few years is bearing fruit. We plan to leverage our licences to our advantage to enhance the customer experience, fulfil the expectations of both consumers and businesses, while maximising shareholder value.”
It was reported that liences were going to be put up for auction as early as December with prices touted as high as half a billion dollars.
