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TELECOM EGYPT COMPANY S.A.E.

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Telecom Egypt E : and the Ministry of Social Solidarity sign an agreement to support Takaful & Karama

01/13/2021 | 09:32am EDT
Telecom Egypt and the Ministry of Social Solidarity signed an agreement today to provide telecommunications services to the Ministry and the beneficiaries of social protection programs, namely the 'Takaful and Karama' program. This cooperation comes in line with the Ministry's endeavor to automate all the services it provides to the enrolled families and individuals across all Egyptian governorates through the implementation of a highly responsive and effective communication mechanism, in line with the envisioned digital transformation strategy of the 'Digital Egypt' vision. Such a mechanism will lead to an improvement in data governance, reflect on service quality, and ensure that all requests and complaints are addressed promptly.

According to the agreement, Telecom Egypt will provide 3.5mn mobile SIMs to the beneficiaries of the Takaful and Karama program including a bundle of minutes, text messages, and megabytes per month at a nominal cost. The company will also support the Ministry by providing over 2,600 landlines for its social units, in addition to a bundle of text messages, and minutes for its hotline numbers to be used to communicate and follow-up with the beneficiaries of the program.

Adel Hamed, TE's Managing Director and Chief Executive Officer, commented:

'We are very pleased to have signed this agreement with the Ministry of Social Solidarity and to support such a large project like Takaful and Karama, as it comes in line with Telecom Egypt's strategy to facilitate national digital transformation, and support all the projects that serve Egyptian citizens. This agreement also emphasizes the vital role of telecom services in establishing effective management systems, and linking databases to improve the services offered to citizens. Last year, we witnessed how necessary telecommunications services are in the daily life of citizens, and we are now very happy to enable the provision of such services to vulnerable groups through this partnership.'

Disclaimer

Telecom Egypt Company SAE published this content on 13 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2021 14:31:00 UTC


© Publicnow 2021
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Sales 2021 34 086 M 2 175 M 2 175 M
Net income 2021 5 958 M 380 M 380 M
Net Debt 2021 28 350 M 1 809 M 1 809 M
P/E ratio 2021 4,63x
Yield 2021 5,56%
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Last Close Price 14,09 EGP
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Adel Hamed Ibrahim Gadalla Chief Executive Officer, Director & MD
Mohamed Hassan Shamroukh Gomaa Chief Financial Officer, Director & Senior VP
Maged Ibrahim Osman Chairman
Antar Kandil Chief Information Officer & Vice President
Mohamed Al-Fowey Chief Technology Officer & Vice President
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