Telecom Egypt S Regulatory News (TEEG)

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

Cairo, 13 January 2021: 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."

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About Telecom Egypt

Telecom Egypt is the first total telecom operator in Egypt providing all telecom services to its customers including fixed and mobile voice and data services. Telecom Egypt has a long history serving Egyptian customers for over 160 years maintaining a leadership position in the Egyptian telecom market by offering its enterprise and consumer customers the most advanced technology, reliable infrastructure solutions and the widest network of submarine cables. Aside from its mobile operation "WE", the company owns a 45% stake in Vodafone Egypt. Telecom Egypt's shares and GDRs (Ticker: ETEL.CA; TEEG.LN) are traded on The Egyptian Exchange and the London Stock Exchange. Please refer to Telecom Egypt's full financial disclosure on ir.te.eg

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