Maghreb 50 launch

In October 19, 2011, Allworld Network and ISED Solutuions launched the Maghreb 50/Egypt 25 in partnership with Cisco.

The ceremony took place virtually connecting via Cisco’s Telepresence a live event with participants form Tunis, Casablanca, Cairo and Algiers and Riyadh.  The U.S. Ambassador’s welcome remarks touched  on his personal commitment and that of the USG to decrease unemployment in Algeria and the region at large through SME growth and their access to capital, connecting its importance to an initiative such as the Maghreb 50. 

The VP for Cisco International elaborated on how barriers of time zone, and travel are eliminated because of technology that enables businesses to be conducted efficiently and the direct correlation between technology and GDP’s of developing economies, a situation that is very relevant now in North Africa.  His commitment is to SME's growth spurred through technology efficiency and his willingness to continue to collaborate with ISED Solutions and AllWorld on future programs.

Yesterday's event was such a success with a far reaching regional and global implication of this unique collaboration between ISED Solutions through its MEPI funded ROCCD Programming in North Africa, AllWorld of Harvard University and Cisco for this Maghreb 50 event.  Applications kept coming in via the online portal and through emails to ISED Solutions’ Tunis staff even as of close of Tuesday. Vetting and ranking of these companies was not possible within the short time frame for the ranking to be completed.  With over 100 applications received, 33 have been approved and ready to be ranked.   With 50 spots available and 33 qualified and approved, 17 spots remain in November, the application system for the Maghreb 50 will be opened for another 2 weeks to receive more applications and complete ranking. 

Some stats on the 33 that have bee approved and waiting to be ranked

3 are from Algeria, 4 from Morocco, 9 from Egypt and 17 from Tunisia.

 Their average size annual revenue is $6million

They experience 37% growth annually

Together, they employ 13 thousand people.  Average of 110 people employed per company.

One third of their sales come from outside of their own countries

Sectors represented by these 33 companies:  1) Construction 2) Manufacturing 3) Food and Beverage  and  4) Technology.