Cairo – Mubasher: Fiber Misr, an Egypt-based system integrator and IT services provider, on Tuesday unveiled its strategy to compete and expand in the local and regional markets.
The company has signed a strategic partnership with Redcon Construction, upon which the latest acquired a 6% stake in Fiber Misr, chairman of Fiber Misr Ahmed Mekky said during a conference held on the sidelines of Cairo ICT 2018.
This partnership will pave the way for the company to invest in new economic sectors and will help it to open fresh emerging markets in the smart cities and real estate development fields, Mekky commented.
The company also signed an EGP 400 million credit facility agreement with Banque Misr to develop the infrastructure of education in Egypt, he added.
He pointed out that the agreement aims at financing the first phase of the national project of developing the infrastructure of Egypt’s education that covers 2,530 schools across the country.
The company is looking to deliver the first phase of the project next December, he indicated.
Fiber Misr has also signed a memorandum of understanding (MoU) with IBM Egypt to apply the blockchain technology in supporting the integrated solution platform provided by the company to major institutions and the national projects in order to enhance services for customers.
This partnership aims to facilitate digital services and transactions provided by public or private institutions to customers, Mekky highlighted.
