According to Vodafone Egypt’s (VFE) CEO, Ahmed Essam, the issuance of the 4G licence in Egypt in USD would be challenging, as the banking system is the company’s sole source of foreign currency funding. Nevertheless, Essam said that VFE is technically ready and could offer the service to its customers only four months after it is granted the licence, highlighting the importance of upgrading the cable infrastructure by Telecom Egypt (TE) [ETEL.CA] to be able to support the 4G service. It is worth noting that the company has not received anything as of yet from the National Telecommunication Regulatory Authority (NTRA) regarding the price of the licence. The company had earlier secured cEGP4bn from seven banks. (Al Shorouk)   Telecom Egypt: EGP9.33 as of 14 June 2016, Rating: Buy, FV: EGP12.21 per share, MCap: USD1,794 million, ETEL EY / ETEL.CA