15 million pounds for first Egyptian company for exporting data technology

A group of Egyptian businessmen finished establishing the first Egyptian company for exporting data technology to the markets of Arab, African and foreign countries with a capital of 15 million pounds.

Sayed Ismail, the head of the company, said the list of contributors in the company includes Egyptian businessmen Magdi Khair Allah, Ahmed Bahgat, Hassanein Tawfik and others, and it is expected that the company will achieve an export record during the first 18 months.

Ismail expected the company's exports to reach $40 million which forms nearly 80% of the volume of Egyptian exports of computer programs, which reached nearly $50 million during the first 18 months of its work.

Ismail added that the volume of the local market for computer devices varies between 160,000 and 170,000 devices annually, of which local production supplies 35%.