Vodafone Egypt broke MobinilMobinil's monopoly when it was established as the second GSM mobile operator in Egypt, in 1998. The first venture for Vodafone Group in the MENA region started when the UK-based telecom company, along with a consortium of international and Egyptian investors won the mobile license for EGP1.75 billion (USD511.7 million).

Vodafone Egypt increased its subscriber-base in 2006 by 43% to reach 8.5 million subscribers, which represented a 47.7% market share in Egypt.

The Vodafone Group is one of the world's largest telecommunications companies with USD41.32 billion in 2006 revenues. Through its subsidiaries, joint ventures and investments internationally, Vodafone Group had a proportionate mobile customer base of 198.6 million subscribers as of December 2006.

Egypt's sole fixed line operator, Telecom EgyptTelecom Egypt, acquired an 8.6% stake in Vodafone Egypt in December 2003 and raised it to 44.79% in March 2007.

Vodafone Egypt acquired 51% of Raya TelecomRaya Telecom, in September 2006, for EGP104 million (USD18 million) and increased its stake to 97% in 2007 for EGP93.6 million (USD16.4 million). Vodafone was the first to launch push-to-talk services in Egypt in June 2006. Vodafone Egypt acquired the 3G license for EGP3.34 billion (USD591.2 million) in March 2007.