Liquid Telecoms will be investing $400 million in Telecom Egypt for the next three years, the leading pan-African group announced this during the signing ceremony at the Africa 2018 Forum.
The agreement is part of a major partnership with Telecom Egypt and Africa Data Centres, a subsidiary of Liquid – which includes – construction of network infrastructure to connect Egyptian businesses to the rest of Africa and new data centres across Egypt.
The investment deal was signed by the Managing Director and Chief Executive Officer of Telecom Egypt, Ahmed El Beheiry, and Strive Masiyiwa – Group Executive Chairman of Liquid Telecom’s parent company, Econet.
“The $400 million investment will enable Liquid Telecom to significantly expand its position as a connectivity and cloud solutions provider in North Africa, serving businesses in the region with world-class network and data centre services.
“Through its data centre offering, Africa Data Centres (ADC), Liquid Telecom is facilitating the growth of Africa’s storage by providing a platform for cloud services to be delivered locally in many markets for the first time,” Liquid Telecoms said in a statement.
Liquid Telecom’s expanding network is close to 70,000km in length and is connected to over 600 towns and cities in 13 countries across Africa.
According to Strive Masiyiwa, the next thing for them is to complete a link between Cairo and Dakar Senegal through Sudan, Chad, and Nigeria, and other West Africa countries.
“We have already crossed Africa from East to West through Sudan and Chad. We are at the Nigerian border and we expect to reach Abuja by the end of January in time for the AU Summit. We want to reach Dakar before President El-Sisi finishes his term,” he said.
During AfricaCom 2018 event in South Africa, Liquid Telecoms announced a partnership deal with Kymeta – global mobile satellite communications company – to improve satellite mobile connectivity across Africa.
This partnership will ensure Kymeta provides high-speed bandwidth mobile Internet access to private and public sector organisations in SA and Africa at large, places where they would normally have difficulty accessing reliable, affordable Internet.
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