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Banking

Egypt's Orascom Telecom subscriber base increases to 50mn.

Egypt's Orascom Telecom subscriber base increases to 50mn. Egypt's Orascom Telecom on Thursday announced that its customer base has reached 50mn subscribers. Orascom Telecom subscribers have increased by 67% to 50mn, from 30mn from around a year ago. At end of Sep 2006 Orascom Telecom had a subscriber base of 46.5mn. Orascom’s Chairman Naguib Sawiris said that the company had set a target of 50mn subscribers by year end and has managed to reach the target ahead of time. Sawiris further said that Orascom now targets to reach 100mn subscriber mark by 2009.

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