Browse
related articles
Vodafone Egypt hit by forex shortages
- Egypt: Wednesday, April 24 - 2013 at 04:07
Vodafone Egypt has said foreign exchange shortages are making it harder for the telecoms operator to buy network equipment and it has asked some suppliers to accept payment in Egyptian pounds, Reuters has reported. The currency constraints would not hit Vodafone Egypt's earnings this year, but would start to affect its longer-term growth if foreign currency remains scarce, said Vodafone Egypt's chief executive, Hatem Dowidar. "So far we have prioritised things like roaming, SIM cards and top-up cards, but that's at the expense of network equipment and infrastructure," Dowidar said. "We have orders that we're not able to fulfil because we can't ensure that we have the currency to pay for it."
Related Content
Article Options
Disclaimer »
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
