Back to the complete issue
Monday, 27 June 2022

Say goodbye to the Etisalat green

Etisalat Egypt becomes etisalat by e&: UAE-based telecom giant e& (formerly known as Etisalat Group) has extended its corporate brand makeover to its Egyptian telecom operations, which will now be known as etisalat by e&. The rebrand was announced at an event attended by some of us here at Enterprise yesterday.

Goodbye, green: As part of the rebrand, Etisalat is leaving behind its bright green logo. “The green color will disappear,” Chief Consumer Officer Ahmed Yahia said at yesterday’s event.

The local rebrand comes as e& moves beyond telecom services to position itself as a “a global technology and investment conglomerate that accelerates digital transformation while empowering societies,” it said in a statement (pdf). The UAE firm rebranded itself as e& back in February, when it also said it would stage a push into Egypt’s fintech sector. The company’s entertainment arm E-Vision and Abu Dhabi sovereign wealth fund ADQ in March acquired a controlling stake in streaming platform Starzplay Arabia. Meanwhile, e& last month bought a 9.8% stake in UK’s Vodafone Global.

More to come for etisalat by e&: The Egypt arm is focusing on expanding its entertainment and technology services, Yahia said, and is still eyeing our fintech sector, with an emphasis on mobile wallets and financial inclusion tools. It will soon make announcements on new investments, he added, without disclosing more details.

The telecom giant’s Egypt operations saw a 15% y-o-y increase in revenues to hit AED 1.3 bn (c. EGP 6.55 bn) in 1Q2022, according to the parent company’s latest earnings release. Top line growth was mainly driven by an increase in subscribers (up 6% y-o-y to reach 28.1 mn users) and mobile data and voice revenues. Egyptian users accounted for almost 20% of the group’s total subscribers at the end of the quarter.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.