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Tamer El Mahdy, CEO of Telecom Egypt, said the company’s market capitalization reached about $3.9 billion after it was upgraded from the small-cap to the mid-cap segment of the FTSE Russell indices. Its annual foreign-currency proceeds range from $650 million to $700 million. The company aims to move from net debt to a net cash position within five years. It plans to invest about $100 million annually in network development and increase fiber-optic coverage to 60–65% of connected premises by 2030. It is also seeking to diversify revenue by expanding its data center, cloud computing and cybersecurity businesses. Its international infrastructure carries more than 90% of telecommunications traffic transiting between Europe, Asia and Africa, with capacity exceeding 330 terabits per second.
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