3. Telecom Egypt

Sector: Telecommunications
Managing Director and CEO: Mohamed Nasr Eldin
Market Value: $1.3 billion
Sales: $1.4 billion
Profits: $297 million
Assets: $3.9 billion

Telecom Egypt provides mobile, fixed lines, and data services. The company owns 45% of Vodafone Egypt. In January 2023, it received approval from the National Telecom Regulatory Authority to obtain an additional 5MHz of spectrum in the 1,800MHz band for $125 million. In June 2022, Telecom Egypt signed six new commercial and strategic agreements with Etisalat Misr worth $549.5 million. In May 2023, the Egyptian government sold an additional 9.5% stake in Telecom Egypt in the secondary market for $121.2 million, bringing its ownership down to 70%.