Egypt to raise prices of telecommunications, internet services by 15 percent
Date
11/20/2024 3:21:26 AM
(MENAFN) The head of the Mobile Phones and Communications Division at the Cairo Chamber of Commerce, Mohamed Talaat, has announced plans to increase the prices of telecommunications and internet services in Egypt by 15 percent, starting next year. This adjustment comes as companies face rising costs and expenses associated with the services they provide. Talaat emphasized that energy consumption at Network towers and other operational challenges have significantly increased expenses, necessitating a price revision to sustain service quality.
In statements to *Erem Business*, Talaat confirmed that mobile companies in Egypt have submitted requests to the National Telecommunications Regulatory Authority (NTRA) to approve the price increases. The NTRA has given preliminary approval, citing the justifications provided by these companies. The authority acknowledged the rising operational costs affecting the telecom sector, supporting the companies' right to reassess the pricing of their services.
The Egyptian National Telecommunications Regulatory Authority also attributed the decision to the broader economic environment impacting mobile service providers. With growing operational expenses, the authority considers the price increase a reasonable measure to ensure continued service delivery. This decision aligns with the need for sustainable business operations amid economic pressures.
According to Mordor Intelligence, Egypt’s telecom market revenues are projected to grow at a compound annual growth rate (CAGR) of approximately 3.65 percent through 2029. Major players in the Egyptian telecom market, such as Telecom Egypt, Vodafone, Orange, and Etisalat Misr, are committed to driving innovation by investing heavily in research and development to enhance service offerings and market competitiveness.
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