Egypt Digital Company for Investment (EDCI), the largest shareholder in Egypt Towers for Technology Services Company, has signed an agreement with IHS Towers to obtain a licence from the National Telecom Regulatory Authority (NTRA) to erect and lease telecom towers.
IHS Towers is one of the largest independent owners, operators, and developers of shared telecommunications infrastructure in the world.
IHS Towers will own 80% of IHS Telecom Towers Egypt S.A.E., and Egypt Digital Company for Investment will own the remaining 20%. The new consortium is in the process of becoming licensed by NTRA, the procedures for which are expected to be completed during this week.
The Ministry of Communications said in a statement on Tuesday5/10/2021 that the partnership aims to construct some 6,000 licensed wireless communication towers over the coming three years through IHS Telecom Towers Egypt SAE, which would be established as per this agreement.
The license also provides the possibility of acquiring wireless telecommunications towers owned by third parties to utilise them to provide the services as specified by the license.
Sam Darwish, IHS Towers Chairman, and Chief Executive Officer said "IHS Towers is committed to delivering critical telecommunications infrastructure to the emerging markets, and this partnership is an exciting development as we continue to pursue our strategic growth ambition. With an established presence in five African markets and two decades of experience operating on the continent, I am confident in our ability to support the rapidly developing Egyptian telecommunications market. By partnering with the Egypt Digital Company for Investment, we intend to leverage their extensive market knowledge and capitalize on our own innovative operating capabilities to facilitate a broad range of telecommunication solutions in Egypt."
