Arab Finance: Telecom Egypt is seeking to secure $500 million in supplier financing from a Chinese entity as part of a more comprehensive plan to restructure its current credit facilities within 2024, Al Borsa News reported, citing sources in the know.

As part of its revenues come from China, Telecom Egypt will repay the loan in Chinese yuan, the sources noted, adding that the loan will assist with meeting its capital requirements for 2024.

On a related note, the sources anticipated that the company would receive dividends ranging between EGP 2.5 and 3 billion from its stake in Vodafone Egypt for the current year as per a shareholders’ agreement between both firms.

It is worth noting that Telecom Egypt earned around EGP 2.1 billion in cash dividends from Vodafone Egypt in 2023.

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