FINANCIAL NEWS

Egypt mobile subscribers reach 56.49m in February

07 Apr 2010

(MENAFN) A report issued by Egypt’s communications ministry showed that the number of mobile phone subscriptions in Egypt rose by 642,000 to 56.49 million in February, Reuters reported.

Growth in subscriptions has slowed in recent months after jumping 1.67 million in December. More than a million accounts had been created every month since late in 2008 as the three operators offered heavily discounted on-network plans to garner customers. In October subscriptions fell.

The February figures amount to a penetration rate of around 72 percent, although industry executives and analysts estimate that some 20 to 25 percent of the market involves second phones. January subscriptions were 55.848 million.

Most analysts see room for growth up to around 65 million accounts, or 85 percent of the population.

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