[it news africa] Egypt’s broadband development could be key to revenue generation of the the country’s telecommunications sector, a new report published by Pyramid Research stated. It said that with the post-revolution atmosphere possibly bringing about a more stable country, it could “nurture market growth.”
The Egyptian telecom sector generated $6.4 billion in revenue last year and has grown by nearly 25 percent in the past two years, the consultancy company said.
“While this period represents the peak growth phase … the country will remain one of the fastest growing markets in Africa and the Middle East going forward.”
It said this is mainly due to the increase of mobile phone usage in Egypt and the infrastructure development of the Internet, including mobile television and banking.
”As a result of the recent political instability that led to the overthrow of President Mubarak’s regime, telecom use increased and was heavily utilized to gather the masses,” said Pyramid Senior Analyst Hussam Barhoush in a statement.
“The interim military rulers have promised elections and a return to civilian rule in September,” he continues. “It is therefore critical that the upcoming elections bring to power a strong government prepared to implement economic and policy reforms that lead to market liberalization, increased competition and strong growth.”
According to Pyramid’s report, mobile penetration has increased from 23 percent in 2006 to nearly 80 percent by the end of last year and the consultancy sees it expanding to over 100 percent by the end of 2015.
Egypt: Broadband optimism on the rise