September saw the foundation of 935 companies: CAPMAS

CAIRO – 23 November 2017: Some 935 companies were founded in September 2017 with a total capital of LE 2.4 billion, the Central Agency for Public Mobilization and Statistics (CAPMAS) said Thursday.

Foreigners contributed 2.4 percent to these companies, at a value of LE 57.3 million, while Arabs contributed 11.3 percent, at a value of LE 273.2 million.

The number of founded companies increased year-on-year in September to 935, from 785 in the same month last year. However, the number fell on a monthly basis as the number of companies founded in August stood at 1,447, according to CAPMAS.

Egyptians acquired 86.3 percent of the companies’ capital, at a value of LE 2 billion. The CAPMAS report showed that February saw the foundation of the biggest number of companies, with 2,005, followed by March, with 1,741 companies.