Egypt’s CIT launches new electoral cycle for 2021/2025 Board of Directors

Daily News Egypt
2 Min Read

Egypt’s Chamber of Information and Communication Technology Industry (CIT) has announced the launch of the new electoral cycle for its Board of Directors, which will sit for the 2021/2025 period.

The entity invited member companies to participate in the general assembly, coinciding with the start of procedures for the Board of Directors elections. These apply to Egypt’s chambers of industry in general, and the Chamber of Information and Communications Technology Industry in particular.

This comes in accordance with the new regulations for the formation of the Board of Directors, which has allocated: four seats for small and micro companies; four seats for medium companies; four seats for large companies; and three seats for appointed members.

This coincides with the start of implementing the executive regulations of Law No 70 of 2019, which is meant to organise electoral procedures at the Federation of Egyptian Chambers of Commerce.

CIT has demanded that member companies complete the conditions for participation, which is to pay the annual subscription for 2019-2020 employees, and to submit an original certificate from an accounting office registered in the accountants’ schedule and auditors.

This is in addition to submitting an official copy of the establishment’s articles of association, the original copy of a recent commercial register, and a copy of the tax card.

These requirements are based on the principle of equal opportunities and equality among member companies to participate in the electoral process through voting or candidacy.

It is worth noting that the classification of the facilities will be based on the regulatory frameworks for the provisions of the law. This includes the invested capital for the years 2019 – 2020, according to the certificate issued by the facility’s certified accountant.

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