Egypt to conquer Africa with smartphones

Private investors hold 80 percent of the company and the remaining 20 percent is held by Egypt’s ministry of communication.

In 2019 the company aims to export 40 percent of its production and keep 60 percent local, Ali said. It also wants to expand its market share in Egypt from 12 percent to 15 percent in 2019, he said.

He said it was too early to set a sales target for exports to African countries, but he expected to export more to customers in Africa than in the Gulf next year.

“We are still entering the market and talking to people,” he said. “We are working with several operators and hoping that [the phones] will be available at their branches at the end of 2018 or early 2019.”

The company expects to triple its total production from 500,000 units in 2018 to 1.5m units in 2019, said Ahmad el-Sawaf, Sico’s international business development manager. Of the 1.5m, 900,000 would be sold in Egypt while 600,000 would be sold abroad, he added.

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