The Clap:
The country’s largest mobile network operator by active subscribers Vodafone Egypt has reported a 37.2% YoY leap in revenues for the year ending in March 2024, the company noted in a promotional video on Linkedin.
The details:
The company raked in EGP 55.4 billion in revenues for the year.
Growing its customer base:
The telecom firm saw its customer base expand at a 6.2% clip YoY, and new services 48.3 million users across the Egyptian market.
So what:
Telecom Egypt (ETEL) owns almost a 45% stake in Vodafone Egypt. Vodafone Egypt holds approximately 45% of the national market share, and heavily affects ETEL’s bottom line. Earlier this month, ETEL dispelled rumors it was looking to sell its shares in Vodafone Egypt.
