Telecom Egypt’s new CEO Tarek Aboualam has announced that the company is waiting for approval from the National Telecommunication Regulatory Authority to establish Egypt’s first virtual mobile network.

He also announced that the company lost EGP 100 million due to cable smuggling and the illegal transfer of international calls.

In response to this, the company has embarked on restructuring its administrative and regulatory structure to address these issues.

The company has also been waiting for the establishment of a new government in Egypt following last year’s uprising in order to bid for the country’s fourth mobile phone license. The predominantly landline operator has been struggling in recent years to maintain revenue levels as mobile phones take over the country.

TE has also faced strikes and internal power struggles in recent months, culminating in a shake-up of top management, including the top CEO position.

(IT News Africa)