Communications Ministry: IT Companies’ Capitals Hit EGP 45.69 Bln

According to a report issued last June by the Ministry of Communications and Information Technology, the number of companies working in the information technology sector has exceeded 4795, including 215.72 thousand employees, with a capital of EGP 45.69 billion and an annual growth amounting to about 0.88%.

The report also confirmed the success of “Technology Houses” initiative launched by the Ministry of Communications and Information Technology in September 2011.  This initiative aims at supporting the “Gateway to Technology” project by providing integrated services such as training programs, e-government services, in addition to helping small and medium-sized enterprises.  It pointed out that 9 technology houses have been established in North Sinai and that the number of technology houses that have been opened so far reached about 71.

Moreover, the report revealed that the number of IT clubs recorded 2163, including 1955 with an access to the internet.