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 Thursday, 30 July 2009

The Egyptian market surged through the 50% penetration barrier in Q1 09, finishing the quarter with a rate of 52.7%. In real terms, the total customer base grew to 43.57m. Quarterly net additions stood at 3.01m, making Q1 09 the third successive quarter in which the gain has exceeded 3m. On an annual basis, there was an increase of just under 12.50m - the highest figure ever recorded in the Egyptian market. Proportionate annual growth stood at 40.2%, down from 52.9% for the prior twelve-month period. In fact, this was the second lowest growth rate of the past eight quarters, the lowest being the 39.0% recorded in Q4 08. This may seem to present a somewhat ambiguous prospect for future growth; however, the graph on the right suggests that the decline in proportionate growth may have bottomed out for the time being, and that actual growth should remain above 10m per year for some time to come.

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Source: Cellular News