Telecom Egypt in subsea partnership with former CEO of GBI
Telecom Egypt is partnering with a new company, Fiber Misr, for subsea services in Egypt and the region.
The companies say that will cooperate in commercial activities related to submarine cable track inspection services, as well as landing, fixing and maintaining submarine cables. This is in addition to marine project management, cable freight and storage services and logistical support provision.
All these services will be provided in the regions of the Mediterranean, the Red Sea, the Gulf and east Africa, they said.
Telecom Egypt CEO Ahmed El Beheiry and Fiber Misr CEO Ahmed Mekky signed a memorandum of understanding to work together to modernise telecoms infrastructure in Egypt and outside through joint projects. Mekky is a former CEO of Gulf Bridge International, a company he left in 2015.
They signed their agreement in the presence of Egypt’s minister of communications and information technology, Amr Talaat.
Mekki said the new partnership will maximise the added value of the two companies and the benefit of their accumulated experience in the field of submarine cable telecommunications services.
Beheiry said Telecom Egypt would use its expertise in integrating the international services that it provides to meet the increasing demand for marine services. He said cooperating with Fiber Misr will achieve the company’s ambitions and vision to diversify the services provided in other areas and enter new markets.
Fiber Misr – “Misr” is the Arabic name for Egypt – says it works across the Middle East and Africa region. It has offices in Egypt, Saudi Arabia, United Arab Emirates and Nigeria. It acquired ICT company Equinox International in June 2018.
Three months ago Telecom Egypt completed its $90 million acquisition of Orascom’s subsea cable linking Italy with the Middle East and India. It said yesterday that its acquisitions would mean the company beats its revenue guidance. “Our 2019 projections count on the robust growth across our operational segments driven by Telecom Egypt’s footprint in the retail market, especially its strong growth in mobile and fixed broadband, along with its eagerness to seize all opportunities in the wholesale segment,” said Beheiry.