“وزير الزراعة” يعلن حصول الحجر الزراعي المصري على شهادة الأيزو لأول مرة
أعلن علاء فاروق، وزير الزراعة واستصلاح الأراضي، حصول الإدارة المركزية للحجر الزراعي على شهادة الأيزو ...
Orange Egypt’s network upgrade expected to reduce its CO2 emissions by 1.7 million tons per year
Orange Egypt’s network upgrade is expected to reduce its CO2 emissions by 1.7 million tons per year amid plans to roll out 5G which is also more energy efficient compared with previous generations of mobile technologies.
The European Bank for Reconstruction and Development (EBRD) and Banque Misr are supporting Egypt’s digital transformation by providing a syndicated loan of around $ 80 million to leading mobile telecommunications provider Orange Egypt.
The loan consists of €39 million from the EBRD and $ 40 million (circa €35.6 million) from Banque Misr’s Dubai branch to assist Orange Egypt with its acquisition of a 5G mobile licence from the National Telecommunications Regulatory Authority.
The rollout of 5G services across Orange Egypt’s network will improve data upload and download speeds and reduce network latency (delays that can occur when transferring data across the network). It is expected to generate significant benefits for consumers and businesses, including by enabling companies to make more innovative offerings, enhance customer experience and stimulate digital growth.
Jean- Marc Peterschmitt, EBRD’s Managing Director for the Corporate Sector, said: “We are delighted to enable the upgrade of Orange Egypt’s mobile services and to partner with Banque Misr for this strategic investment. This project will strengthen Egypt’s digital infrastructure, contributing to improved internet connectivity for local consumers, businesses and the broader economy.”
Mohamed Khairat, Head of Corporate Banking and Syndicated Loans at Banque Misr, commended the fruitful collaboration between Banque Misr and the EBRD, which successfully facilitated the completion of this financing. He emphasized that Banque Misr’s participation in this financing reflects its leading role in strengthening the national economy, particularly as the telecommunications sector remains one of the most influential sectors in the economy, adding that Orange Egypt is a key player in the sector and that the syndicated loan will support the company’s sustainable growth.
Khaled Nabil Khorshed, Head of Wholesale Banking at Banque Misr UAE, said that the participation of Banque Misr’s Dubai branch in the loan aligned with the bank’s strategy of leveraging its international branch network to strengthen its presence both locally and regionally, adding that this reflects the bank’s ability to facilitate international financing transactions.
Mohamed Sayed, Chief Financial Officer at Orange Egypt, said: “We are proud to partner with Banque Misr and the EBRD in a move that underscores international confidence in Egypt’s economy and supports our vision for advancing the telecommunications sector. Through technologies such as 5G, we aim to enhance services in education, healthcare and smart cities, bridging the digital divide and driving Egypt’s digital economy forward.”
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