SGS Announces the First MSI 20000 Certification in Egypt
After a long process of evaluation and verification, strictly evaluated on the basis of the specifications of the MSI 20000 regulation, SGS has announced that the Egyptian company Auto-Group conforms to MSI 20000 standards.
The official MSI 20000 certification ceremony was held at the firm's registered offices, in the presence of the general management, the principal shareholders and the financial teams. After presentation of the diagnostic conclusions, the full reports and certificates of conformity issued by SGS were presented in the presence of international MSI experts, who had traveled specially from Paris and Geneva.
MSI 20000: The International Standard Dedicated to Certification of Financial Quality in Business
Finalized by the world's top financial experts, the MSI 20000 certification process uses a sectorial approach to analyze all data regarding business finances and management, through a framework and very strict principles, based on several evaluation criteria. The diagnostics, based on solidity and performance, are expressed respectively according to the major areas of evaluation such as management of assets, liabilities, liquidity, risks, and human resources, as well as commercial, economic, financial and operational aspects of performance.
Thus, the MSI 20000 standard provides information on financial governance and respect for good practice in financial management. Conformity to the MSI 20000 standard is an indicator of quality and market readiness for all economic players and financial operators seeking reliable and independent financial data. MSI 20000 certification is not just a strong marketing tool but also an excellent tool for decision making and continuous improvement.
One of the key assets of financial certification lies in the total independence between the body which establishes the quality certification, in this case MSI Organization, and the certification bodies. This perfect independence is unique in the world of financial analysis.
Auto-Group seeks two objectives with this certification: to reassure the firm's financial environment (shareholders, investors and creditors) regarding solvency and to reassure the firm's economic environment (commercial partners, clients, suppliers) regarding the group's sustainability and financial soundness. Through this strong initiative, Auto-Group shows its desire to continuously improve and increase value, making it a financially attractive business.
A new step for Auto-Group, as it seeks to conquer the Egyptian automobile market
In a context where transparency and financial liability constitute a critical stake in economic development and demonstrate the security of economic players, many businesses, in particular branches of multi-nationals and large global groups, annually submit to certification according to MSI 20000 regulation, in order to achieve continuous improvement as well as obtaining certification of financial conformity. Auto-Group now belongs to this elite sector of excellence. Auto-Group, well known to the markets as a pioneer and leader in automobile distribution in Egypt, recognized on a national level, sells several thousand vehicles every season and is a distributor for Renault and KIA, in particular.
This certification is an accolade for Auto-Group. In this way, the company indicates its ambitions: to establish the business throughout Egypt and increase gains in market share, while at the same time consolidating its current positioning and developing new business opportunities. This announcement follows an investment and commercial strategy plan which has been shrewdly operated by the senior management of Auto-Group.
For further information, please contact:
Dr. Ashraf El-Zoheiry
t: +2 02 27 26 3052
About MSI Organization
Established in Geneva, under the Swiss Civil Code, the non-profit NGO MSI Organization is the distribution and technical regulation body of the MSI 20000 standard. The MSI Organization gathers leading international experts from throughout the financial sphere. All the members of the MSI scientific committee are graduates of the world's top universities (Harvard, Oxford, Stanford, Columbia, UCLA, etc..) and have worked for major financial institutions or prestigious universities.
SGS is the world’s leading inspection, verification, testing and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 95,000 employees, SGS operates a network of over 2,400 offices and laboratories around the world.