Egypt for Information Dissemination (EGID) signed a contract with i-Score to host the latter’s information centre, starting in the third quarter of this year.
Managing director of EGID, Maher Asham said that the company aims to build a regional financial information centre to enhance the linkage of the Egyptian market to the nearby markets.
He told Daily News Egypt that EGID aims to boost its storage capacity from 60 racks to 240 racks with investments of EGP 100m. Racks are used for adding servers and storage devices.
Asham explained that the investments in the first phase amounted to EGP 25m, where the capacity was increased from 12 racks to 48 and then 60. He pointed out that the company has contracts with 15 brokerage firms—with negotiations for further contracts in the coming period.
Managing director of i-Score, Mohamed Refaat, said that the company collects data about borrowers in Egypt and makes it available to the bodies that grant funding.
He added that the company will focus on small and medium enterprises (SMEs) in the coming period, noting that i-Score has recently signed a contract with Standard & Poor’s to partner with in that field. He furthermore pointed out that the company is preparing to compete in a tender for the movable guarantees registry.