Egypt Post achieves EGP 3bn budget surplus in FY 2020/21

Daily News Egypt
2 Min Read

Sherif Farouk, Chairperson of Egypt Post, has said that the authority’s board of directors approved its budget for fiscal year (FY) 2020/21, with a net surplus of EGP 3.183bn.

He added that the authority succeeded in making many achievements on the ground during the last fiscal year with the continuous support of Amr Talaat, Minister of Communications and Information Technology.

He stressed that the authority achieved a net profit growth of 51%, and services revenue growth of 5% to EGP 3.394bn. The savings fund amounted to EGP 264bn. 

This success came as a result of a comprehensive strategic plan developed by the authority to bring about a qualitative leap in all sectors and services and a great technological leap that confirms the presence of the authority in the Egyptian market and enhances its ability to compete, praising the efforts of the workers and their dedication to work to upgrade their authority and the level of services provided to citizens.

He pointed out that the large investments in developing post offices, applying digital transformation and financial inclusion, automating all procedures and providing outlets with the latest systems and technological solutions, all had a great impact in providing the appropriate environment for workers and customers and reducing operational costs, which led to maximizing revenues and achieving a major boom in the performance.

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