Egypt's Information and Communications Technology (ICT) sector reported a growth of 12,5% for the financial year of 2016/2017. This is based on a report by the Ministry of Communications and Information Technology in Egypt.
Download the latest "ICT Indicators in Brief" report by Egypt's Ministry of Communications and Information Technology.
The report also revealed that the North Afrikan country's ICT sector contributed 3,2% to Egypt's Gross Domestic Product (GDP) during the same financial year.
Other highlights from the report include:
For the 2016/2017 financial year, Egypt’s ICT services outsourcing industry increased up to $1,87 billion.
Internet subscribers in Egypt increased by 3,10 million subscribers for the 2016/2017 financial year to 32,76 total Internet subscribers.
Mobile phone subscribers decreased slightly from 99,5 million in August 2017 to 99,39 million in September 2017. This is made up of 42,3 million Vodafone subscribers, 24 million Etisalat Egypt subscribers, and 33 million Orange Egypt subscribers.
This comes as no surprise as earlier in 2017 it was forecasted that the ICT sector is likely to reach a $3,5 billion in 2017. Furthermore, this will likely be a signal of progress given how Egypt's telecommunications sector has lagged behind given several years where not much investment was made into infrastructure.
While presenting the latest statistics, Egypt's Minister of Communications and Information Technology, Yasser Al-Qadi, is reported to have dismissed any intention by the Ministry to sell Telecom Egypt’s (state owned) share in Vodafone Egypt. Rumors had been circulating for a while that the government of Egypt was looking to offload all or part of its 45% shareholding in the mobile services provider as part of a rumored offer made by Eagle Capital Corporation which apparently offered to buy Telecom Egypt’s stake in Vodafone Egypt.
Instead, Al-Qadi is said to have emphasized how Vodafone Egypt is planning to expand its investments inside and outside Egypt to provide integrated telecommunications services.