Datasonic Enters Into A Profit Sharing Deal With The Republic Of Guinea

Datasonic a well-established entity in government security already working with the Home Ministry is now offering its expertise to the Republic of Guinea with a new Memorandum of Agreement it had signed with the Ministry
of Urban Planning, Housing, and Territorial Development of the Republic of Guinea.

This will see both parties combine their capacities and resources to cooperate and collaborate on issues relating to the printing of secure documents, digitization, and improvement of land management solutions and services of the Republic of Guinea.

The project will include the implementation of new computerised citizen data in land matters; the incorporation of biometric authentication of land data; Manufacture, supply and customisation of high security documents for the land
title; The implementation of new secure procedures with an emphasis on transparency and efficiency in the processing of land title applications and authorisations. The development and provision of relevant technical materials.

In the collaboration, the Company will be the prime contractor and the MUHAT will be the project owner and the Company will carry out feasibility study on the Project to be carried out and the economic model. In the execution of the Project, the Company will ensure the transfer of skills.

While no project cost was discussed, the parties have agreed on a profit sharing rate in the proportion of 60% for MUHAT and 40% for the Datasonic. Duration of the Project will be 10 years (plus 5 years of Project extension).

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