Liquid Telecom will be investing 8 billion Egyptian Pounds or $400 million in Egypt over the next three years.
This is part of a partnership with Telecom Egypt which includes network infrastructure and data centres.
Telecom Egypt will use the network to connect Egyptian businesses to the rest of Africa, whilst also partnering with Liquid Telecom to build data centres across Egypt.
Following an initial investment of $50 million in data centres and cloud services, Liquid Telecom plans to invest an additional $350 million in broadband and financial inclusion initiatives, as well as data centres.
The $400 million investment will enable Liquid Telecom to expand its position as a connectivity and cloud solutions provider in North Africa.
Ahmed El Beheiry, managing director and chief executive officer of Telecom Egypt, and Strive Masiyiwa, group executive chairman of Liquid Telecom’s parent company Econet signed the agreement on Saturday 8 December at the Africa 2018 Forum.
Strive Masiyiwa said the next mission is to complete a link between Cairo and Dakar Senegal through Sudan, Chad, and Nigeria, as well as the rest of West Africa.
