Tarek Tawfik, head of the Egyptian Business Development Association, said there are 600 franchise companies in Egypt competing for an estimated LE12 billion in annual sales.
Tawfiq added that the franchise system offers 800,000 direct jobs and 1.5 million indirect jobs in complementary industries. “Direct investments in this sector are estimated at LE60 billion,” he said.
This news was revealed during the opening of the XIII International Franchise Exhibition, with the participation of 55 exhibitors from Egypt and 10 foreign countries.
Trade and Industry Minister Mounir Fakhry Abdel Nour said the Social Development Fund finances small and medium franchises for the youth through 30 branches in various governorates.
Participants in the exhibition include companies working in the field of restaurants, fast food, cafes, electronic tools, real estate, home appliances, frozen food, consulting, information technology, garments, education and training, printing and recreational activities.