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EITESAL records EGP 5m in revenues at the end December 2015 - Daily News Egypt

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EITESAL records EGP 5m in revenues at the end December 2015

The association will open a new office in the Gulf, which includes nine companies, to increase software exports, says Asaad

EITESAL Association achieved revenues of EGP 5m between December 2014 and December 2015. The revenues came from training fees, memberships, and its support of the Information Technology Industry Development Authority (ITIDA).

The association spent EGP 4.5m on salaries, bonuses, social insurance, rentals, and legal consulting over the past year, chairperson Hazem Al-Tahawy said during EITESAL’s annual ceremony earlier this week.

The association achieved an EGP 528,700 surplus in its budget last year, while the value of its fixed assets reached EGP 458,000.

Al-Tahawy explained that the association has 512 members currently and the increasing number of members proves its success and role in serving the sector. EITESAL has focused on increasing the size of activities in all fields and developing its human resources.

The association will sign an agreement with the Academy of Scientific Research and Technology (ASRT) to offer more support to small enterprises and provide more help to the EITESAL Business Nurturing Initiative (EBNI) programme. The association offers support to small enterprises and entrepreneurs in the field of cloud computing and the internet of things and helps to promote their products on both the local and international market.

EITESAL incubated 10 emerging communications and information technology companies as part of its EBNI programme, a member of the Board of Directors and head of Raya Data Centres Reem Asaad said.

EITESAL supports start-ups with EGP 50,000 each, alongside to technical support and assistance to their legal and accounting matters. Moreover, the association connects entrepreneurs and investors.

The association, according to Assad, plans to open a new office in the Gulf. The office will include nine member companies for software marketing, which will support the state’s plan to increase software exports. EITESAL opened an office in Dubai to export software of nine companies to the Gulf States and Arab countries, as well as another nine-company office in China.


Topics: EITESAL revenues

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