Success story: Ministry of Programming

Success story: Ministry of Programming

Ministry of Programming is one of the most successful IT companies in BiH. Established in 2015, MoP grew into a multimillionaire exporter in only three years. Its products are changing the world for the better in the technological sense, and young people from all over the region are coming to Sarajevo to work in this company.

“We decided that we want a company that will differ from the others at the very beginning, and that is the reason why we chose to get into production of start-ups. So, our main role is to be the technological and logistical support for start-ups, the upcoming technology companies,” said Resad Zacina, who founded the Ministry of Programming together with his brother Faris.

“Back then, starting a company represented a large risk for us. I worked in Sweden, in one of the most promising start-ups there. Faris worked in Sarajevo for an American company. We were both interested in this story about start-ups, and we also wanted to transfer some of the things that were being done in the world to our country. We wanted to allow our people to be part of the flow of the world and to work with advanced technologies,” said Resad.

The rise of the company

After they managed to find their first partner, their success was unstoppable. After only a year, they employed 20 people. That number was twice as big after just two years. Today, their team counts more than 80 people, and the Ministry of Programming moved from several rented tables in a co-working area to its own offices at a total of 600 square meters in just three years.They produced 30 start-ups on that path. All of the start-ups are abroad, and the export that this company achieves is measured in millions. Their start-ups now work in Sweden, Germany, the United States, the United Kingdom, and Switzerland. The company is especially proud of NAGA start-up.

“NAGA is one of our most successful products. It is the first blockchain platform for decentralized trading, investment and education on financial markets, virtual goods and cryptocurrencies. This is the best example where we made something from nothing. From a company with two employees, NAGA has grown into a company with two hundred employees and it was listed on the Frankfurt Stock Exchange,” said Resad.

Ministry of programming found its place in Deloitte’s annual list of 50 fastest-growing companies in central Europe, taking the 21st place in the ranking,

Number of employees

The company’s number of employees increased by more than 100% since 2017. From 42 in 2017 to 68 in 2019 and finally over 100 employees currently in 2020.

Sales and export revenue

MoP’s total sales revenue experienced sig growth over the past years. The sales revenue increased in 2018 by BAM 3,214,872 or 76 %. In 2019, sales revenue amounted to BAM 6,139,136, which represents an increase of BAM 1,276,974 or 17% compared to the previous year. On the other hand, export revenue increased from 2017 to 2019 by 46%.

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