The Middle East's

Top 100 Listed
Companies 2022

83. Telecom Egypt

Country: Egypt

Sector: Telecommunications

Managing Director and CEO: Adel Hamed

Market Value: $1.5 billion

Sales: $2 billion

Profits: $453 million

Assets: $4.9 billion

Telecom Egypt provides mobile, fixed lines, and data services. The company owns 45% of Vodafone Egypt. It acquired a 4G mobile license in late 2016 and began mobile services in 2017. Its revenue grew 16% in 2021, landing at $2 billion, driven by a 30% increase in data revenues, along with a 26% increase in infrastructure revenue. In March 2022, it signed an agreement with the European Investment Bank to secure a medium-term loan of $158 million to expand its 4G broadband network and improve mobile network coverage. The Egyptian government owns 80% of the company.