The company increases its capital by EGP 50m to cover its future expansions
The Advanced Computer Technology (ACT) Company aims to increase the volume of its business this year by 100%, bringing it to EGP 1.2bn compared to EGP 600m in 2016. The company seeks to form coalitions with four companies in the sector of Egyptian information technology in order to offer technological solutions in the New Administrative Capital. The company aims to announce the coalition during the second half of this year.
Hazem Mansy, head of the marketing department at ACT, said that the company has expansion plans in 2017 both internally and externally. “For the internal local market, we will continue to offer new innovative services in specific sectors that have high growth potential, such as the petroleum, finance, communications, tourism, and government services sectors.”
According to Mansy, the company aims to have a role in the national projects implemented by the Egyptian government, including the New Administrative Capital. “We have established a new unit to develop software within the company. We aim to separate it into a company next year. The reason for that is the market’s need for developed applications,” he said.
The company is currently working to cooperate with a number of foreign companies specialised in solutions for smart cities to benefit from their expertise as a prelude for offering solutions to smart communities in the Egyptian market.
ACT is seeking to play a role in offering developed technological solutions in the New Administrative Capital. “We have already signed a cooperation deal with two companies. One of them is German and the other is Spanish. They are both specialised in offering solutions for smart cities,” Mansy noted.
On the other hand, Mansy revealed that the company is negotiating with four local companies to create a coalition to take part in the implementation of some projects in the New Administrative Capital. It is expected to announce the coalition during the second half of this year.
Mansy revealed that these steps are part of the company’s plans to establish a holding company by 2020, for which several companies work. With the implementation of this plan, the company will separate several units to create a separate company, with other units working under its umbrella, such as the software and application development unit.
“We will also work to implement a new company this year, and we have already completed the implementation of another company over the past months. It is one specialised in offering integrated technological solutions in foreign markets, such as Holland, Spain, and France, in addition to Gulf markets. The company also offers its services to some customers in Nigeria and Cameroon. We are currently preparing to open a branch for it in the Emirates.”
The holding company currently includes under its umbrella ACT Integration Systems, Advance Global Service, and ACT Pride. “To implement this plan, we have increased our capital by 50%, an equivalent of EGP 50m. We are planning to establish four new companies in 2018 and 2019. We are also considering the acquisition of some companies over the upcoming period as part of our implementation of plans to turn into a holding company that offers integrated solutions. We are currently looking into the acquisition of two companies in the field of cloud computing, big data solutions, and IoT,” Mansy added.
Regarding the projects implemented by the company, Mansy said that a number of projects in the field of administrative development are being implemented for the benefit of the Ministry of Communications, in addition to another project for the benefit of Vodafone Egypt. There are other projects implemented in the petroleum sector for the benefit of Sidi Kerir Petrochemicals Company (SIDPEC) and Ethydco Petrochemicals.
According to Mansy, the company is targeting to achieve a business volume of EGP 1.2bn this year with a 100% increase compared to last year, when sales of EGP 600m where achieved. The company’s business in 2015 reached EGP 400m.