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ACT to launch “ACT Holding” with EGP 200m capital - Daily News Egypt

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ACT to launch “ACT Holding” with EGP 200m capital

The new company will include nine affiliates to expand regionally, Mansy says


The Advanced Computer Technology (ACT) Company aims to launch its new company, called “ACT Holding”, before the end of this year, which would include nine affiliates operating in the fields of information technology and communications, with a capital of EGP 200m.

Hazem Mansy, head of the marketing department at ACT, said that the new holding company’s total number of employees is expected to reach between 800 and 1,000 employees by 2020, with an increase of more than 400 employees. This step comes in light of the recent increase of the company’s business volume locally and regionally, especially in the petroleum and hospitality sectors.

Daily New Egypt revealed in a previous edition, released on 15 March, that the company has increased its capital by 50%, turning itself into a holding company with an expansion scheme.

ACT is engaged in the implementation of many projects in several countries, including Nigeria, Kenya, Mauritius, the United Arab Emirates (UAE), Saudi Arabia, Oman, Qatar, Bahrain, Tunisia, Morocco, and Japan.

According to Mansy, the holding company will include under its umbrella ACT Integration Systems, Advance Global Service, ACT Pride, and another company operating in application development. This fourth company is to follow the success of previous applications, such as “Maestro” and “Piano”, which target the European, African, and Arab markets. Meanwhile, a fifth company will specialise in the field of new technologies, such as the Internet of Things and Big Data. The rest of the companies operate in training and consulting for other companies. They will aim to help them achieve digital transformation.

Mansy added that the company expects to achieve positive results by the end of the first quarter of this year, with an expected business volume of up to EGP 300m. The company aims to increase the volume of its business this year to EGP 1.2bn, compared to EGP 600m in 2016.

https://cdn2.dailynewsegypt.com/2017/03/18/act-launch-act-holding-egp-200m-capital/
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