SEF Azel

completed

Azerbaijan Electronics is one of the most successful computer and office equipment suppliers and systems integrators in Azerbaijan. Its main lines of business, all related to the procurement, supply and maintenance of computers and office equipment, include: - systems integration; - retailing of electronic and computing products; - post-sale service; - software development; and - computer assembling.Azel was established in 1991 by Messrs. Igor Yakovenko and Emin Guliyev and has been consistently growing for the past fifteen years and expanding its business to become the market leader. Azel has a good track record with major computer and office equipment vendors such as Hewlett-Packard, IBM, Canon, Samsung, Microsoft and others, which has also helped the company to enter neighboring markets such as Georgia and Central Asia.The company has grown from 6 employees in 1995 to 130 in 2007. The company is now planning to create a stable platform for its development by investing in new and larger space for its main office and two additional retail stores. The company plans to: - purchase of 1,300 m2 of new office space in the center of Baku; and- expand the company’s computer/office equipment retail network to five stores by purchasing two new locations of 150m2 each. Total project cost is expected to be $5.1 million, and IFC has been requested to provide an A Loan of $2.5 million, with the balance to be financed by new equity and internal resources.