Etisalat Misr helps provide 1000 jobs in 500 new micro projects in cooperation with the Social Fund for Development

Mr. Seif El Nasr said that the agreement serves the strategy of the SFD of continuously opening the doors for young people to start their own businesses and cooperate with large companies to gain more knowledge in marketing and management.

He also noted that this cooperation with Etisalat Misr will be of benefit to whoever has the experience in the field and wants to establish a small project for mobile products and services, in addition to existing shop owners who want to develop their activity. The project is aiming to provide 1000 new jobs through 500 small projects over the country.

Eng. El Sadat pointed out that the SFD will arrange for financing in the form of a loan of approximately 10,000 EGP for each project. The SFD's regional offices will provide the loans to the beneficiaries in the rural areas with a total financing amounting to 5 million Egyptian pounds.

Etisalat's will be responsible for choosing the locations of the projects and training the beneficiaries on marketing different mobile products and services, in addition to providing an array of Etisalat's products (SIM cards, recharge cards, mobile sets) at a competitive price to enable beneficiaries to make reasonable profits to pay back the loan to the SFD.

El Sadat added that the agreement represents a continuing cooperation between Etisalat and the SFD to give young entrepreneurs an opportunity to establish their own IT business, and to provide more jobs.

It is worth mentioning that Etisalat, the SFD, and Akhbar El Yome foundation have had a previous initiative; helping young people establish kiosks to sell newspapers and Etisalat's products and services, a project that was executed in various Egyptian governorates.