Vodafone Egypt Receives Approval for Mobile-Phone Money Transfer

Vodafone Egypt Telecommunications Co. received government approval to provide mobile-phone money transfer once security in the country improves, Chief Executive Officer Hatem Dowidar said.

“We are ready to press the button when we get clearance on the security situation” from the National Telecom Regulatory Authority, Dowidar told Bloomberg on the sidelines of a media conference in Cairo. “I expect the situation to get better within two months.”