Cairo – Mubasher: Egypt’s Internal Trade Development Authority (ITDA) plans to establish a new company for managing wholesale markets with a capital of EGP 100 million in fiscal year 2019/2020, head of ITDA, Ibrahim Ashmawi, said.
The company will be established in collaboration with commercial banks, investments banks, and private-sector companies, Ashmawi added in a statement on Wednesday.
ITDA also aims to launch a commodities exchange during the current fiscal year, he noted.
Holding Company for Food Industries and General Authority for Supply Commodities (GASC) will own shares in the to-be-established wholesale management company, Ashmawi revealed.
