Telecom Egypt BoD resigns after new Communication Minister sworn in
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CAIRO: Telecom Egypt (TE) Chairperson Mohamed Salem has resigned Saturday, few hours after new Communication Minister Yasser el-Qady has sworn in before President Abdel Fatah al-Sisi, Reuters reported.

“No secret that working in such a hostile environment is unpleasant and wastes time and effort,” the resigned chairperson said in his resignation, adding that he faced many obstacles and difficulties.

El-Qady has sworn in as the Minister of Telecommunication succeeding former Minister Khaled Negm.

In a previous statement, the Independent Syndicate for Workers in Telecom Egypt has called on the new minister to oust Salem and Khaled al-Sherif, Negm’s aide. The statement noted that the company’s revenues have declined by 300 million EGP ($ 38.3 million.)

The government owns 80 percent of Telecom Egypt shares. In 2014, the company had disputes with three mobile operators in Egypt (Etisalat, Vodafone, and Mobinil) over having a fourth license for mobile networks (unified telecommunication license). The three companies voiced their rejection as it could result in a state-owned company’s monopoly.

In May, Salem was appointed as a Chairman of TE’s board of directors after the removal of his predecessor Mohamed el-Nawawy over the unified license for which TE agreed to pay 2.5 EGP ($327.6 million) last year, but it was not activated despite the government’s approval.

 

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