The National Telecommunications Regulatory Authority (NTRA) has signed a US$150 million agreement with Telecom Egypt for a 15-year license to operate 5G services.
The long-term agreement does not include any auto-renewal clauses or any additional concessions, said a cabinet statement on Wednesday.
Offering 5G services in Egypt will help accelerate the country’s digital transformation efforts, as the technology plays a key role across various sectors, said Minister of Communications and Information Technology Amr Talaat.
The huge [download/upload] capacities offered by 5G [networks] support connectivity and enable control of a great number of devices at the same time, Talaat added.
The fifth generation of cellular network technology (5G) represents a significant leap forward in mobile communications. Characterized by exponentially faster data speeds, ultra-low latency, and increased network capacity, 5G promises to revolutionize numerous industries and applications.
Compared to its predecessor 4G, it offers up to 100 times faster download speeds, enabling near-instantaneous data transfer and seamless content streaming.
Egypt has made significant progress in recent years towards digitalization.
In December 2022, the country inked 29 agreements with foreign businesses, including IBM, Amazon, Microsoft, and Dell Technologies, to establish outsourcing centres. This move is projected to increase the country's digital exports by $1 billion by 2025 and generate more than 34,000 jobs.
The financial inclusion rate in Egypt increased by 5.4 percent to 67.3 percent during the first six months of 2023, according to a report by the Central Bank of Egypt (CBE).
In October 2023, Talaat stated that Egypt invested EGP 50 billion in digital transformation projects.