Egypt’s MCIT : EGP 46.5 Bln Issued Corporate Capital Within Q1 Of 2013

The total issued capital for the enterprises operating in information and communication technology (ICT) sector are about EGP 46.52 billion within the first quarter of 2013.

An official report issued from the ICT Ministry has revealed that the size of annual growth in the corporate capital about 1.29% compared to the same period last year, explaining that it amounted to 45.9 during the first quarter of 2012.

The ICT sector seized 78.3% share from the total issued capital, while ICT sector share reached 18.4%, and the additional value of sectors are about 3.4% of the total issued corporate capital.

The report has emphasized that the volume of direct labor sector in ICT sector reached 217.78 thousand employees  compared to 214.4 in 2012, noting that the labor volume includes Telecom Egypt (TE), Egypt Post, Smart Village’s employees, Cairo Contact Centers Park in Maadi, and the employees of ICT sector.

Moreover, the report has noted that each direct job in ICT sector will create 2-1.5 indirect jobs in other economic sectors.