By Alaa Abdelwanis
Orange Egypt’s consolidated financial results showed a decrease of 63.3% in net losses for 2016, according to the company’s stock exchange statement. The company’s net losses in the first six months of 2016 went down to EGP 33.4m, compared to losses amounting to EGP 91.1m in the same period of 2015. On the other hand, the company’s revenues increased by about 2.2%, reaching EGP 5.8bn in the first half of this year, compared to EGP 5.636bn a year ago.
The National Telecommunication Regulatory Authority (NTRA) has contacted all telecommunication companies currently operating in the Egyptian market, and provided all the details and regulations regarding the acquisition of 4G licences, and currently awaits approval from companies by the end of the first week in August.
Orange Egypt announced that it will have to pay EGP 3.54bn for the 4G license on mobile phones. Half of the fee has to be paid in US dollars.