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CEO of Egypt of Information Dissemination – EGID “ 45 million Egyptian Pounds the cost of the new building , the opening is in February 2010 “


In An interview with Mr. Maher Asham the CEO of EGID he mentioned that his company’s revenue were not affected by the global economical crises, it has realized 12 million Egyptian pounds last year and he expects further increase for year 2009. He also confirmed that the opening of the new building of EGID in New Cairo will have a positive impact on the profits of EGID. 

By interviewing Mr. Asham he highlighted that the Joint Venture between the Egyptian Exchange and NASDAQ OMX gave EGID the opportunity to gain the international expertise needed to tackle the Middle Eastern and International Markets. 

By asking Mr. Asham: 

• What are the new services that EGID is presenting?
- EGID is exclusively licensed by the Egyptian Exchange to disseminate all the information of the companies listed on EGX. EGID also created a variety of softwares that support the data vendors the brokers and the exchanges. An example of these Softwares is the backoffice system (Matador). 

• How did EGID benefit from the increase of NASDAQ OMX’s share in the nominal capital?
- EGID was fully owned by EGX then after the joint venture with NASDAQ OMX we were able to increase our nominal capital which gave EGID the facility to get the best technology available needed in the softwares development. This increase also helped EGID enter the UAE – Dubai & Doha market. On the other hand EGID helped in launching Damascus Stock Exchange in Syria. 

• Who are EGID’s Customers in the Egyptian Market?
- Of our main customers Mubasher , MIST, EFG-Hermes, Arabia Online & Sigma. They all take the data feed information about the companies listed on EGX. 

• Is there any company to enter new markets?
- Currently EGID is studying the option of entering other Arab Markets as well as African Markets where we will introduce the services of transferring and disseminating the information. Lately we have discussed with the Chairman of Sudan Stock Exchange, the best means of advance. 

• What about the Libyan Stock Exchange ?
- The Libyan market is a promising one in the field of financial instruments yet it lake a lot of technical facilities. It is worth mentioning that Egyptian Financial Supervisory Authority (EFSA) have been one of the first organizations to support the Libyan Market. 

• In what way did NASDAQ OMX help EGID?
- NASDAQ OMX provides EGID’s personnel with a yearly training. It has also sent many of EGID’s personnel to take the training in their main headquarter in Sidney – Australia. 

• What is the future strategy of EGID?
- in the near future the company aims to realize three main targets. First, finish the new office that is located in the 5th District at New Cairo. Cost of this office reached more than 45 Million Egyptian pounds and it will officially open by February. Second, present new services and create new softwares to help the Brokerage companies and the data vendors. Third, to expand geographical, and be able to cover more markets in the Arabic region.
 




egID is a CMMI-DEV L2 Company that provides high quality software solutions to all bussiness sectors.

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