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Homemiddle east turmoilEgypt Telecom CEO: We can have democracy and stability

Egypt Telecom CEO: We can have democracy and stability

Egypt will be able to return to democracy and stability, Mohammed Elnawawy, the CEO of the Egypt Telecom has told CNBC, highlighting the promise of the country's large young population.

"We have the track record," he told CNBC Monday "If you look at the last 5,000 years you see that, as people, we are always able to get our acts together. We are naturally modest, we have never slipped into civil war."

In the last three years, Egypt has become embroiled in civil unrest as the Arab Spring has affected many nations in the region. In January 2011, widespread protests began against Hosni Mubarak's government, leading the president to resign soon afterwards.

(Read More: Egypt's Muslim Brotherhood 'isolated': Prime Minister)

In 2013, Egypt's first freely elected head of state, Mohamed Morsi was also ousted after mass protests against his rule. Egyptians are due to vote on a new constitution this week which could pave the way for fresh presidential elections as well as stripping out Islamist language associated with the Muslim Brotherhood and Morsi's rule.

Media reports suggest that Egypt's army chief, General Abdel Fattah al-Sisi, will underline his intentions to run for president — while Morsi's Muslim Brotherhood supporters accuse the army of staging a coup.

Elnawawy told CNBC that democracy could still be achieved in Egypt even with a military leader taking charge after a public vote.

"If selected by the people, then why not," he said, stating his was apolitical.

(Read more: Egypt seen as graveyard of Islamist ambitions for power)

"It's ultimately going to be the people's decision."

Elnawawy claimed that a third of the population were below the age of fifteen years old and a third were between 15 years and 25 years. "This kind of market is able to sustain growth," he said.

What Egypt needs work on is education, healthcare and jobs, Elnawawy said, adding that unemployment needed to be dealt with and new schools built in the country.

(Read More: Egypt's foreign minister: Invest, invest, invest!)

"If we are able to get our priorities right…I hope we get a proud government, proud in the market, the geography, in the heritage."

Despite unrest and the lack of stability in the country, Egypt Telecom saw its revenue and profit grow by 11 percent in the first nine months of 2013, Elnawawy said, the company's best performance in the last 160 years.

The market for telecommunications is very young and growing, he added, with the negativity from politics doing little to spoil growth in the sector.

The company has also recently denied it is on the verge of selling its stake in Vodafone Egypt. While this brings the possibility of a dividend payment to shareholders, Elnawawy was quick to point out that nothing has been decided.

He explained that the company has recently been granted a unified telecoms license and didn't want to acquire broadcasting spectrum which duplicated what Vodafone Egypt already holds. Therefore any potential deal would be decided upon after this radio spectrum is acquired, he added.

"While we start mobile services and before we acquire spectrum there is no reason for management to look at that," he said.

By's Matt Clinch. Follow him on Twitter @mattclinch81


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