The Information Technology Industry Development Agency (ITIDA) and global technology services leader Concentrix have signed a $1 billion memorandum of understanding (MoU) to invest in Egypt’s outsourcing industry. This partnership aims to strengthen Egypt’s digital economy and attract international investments while creating 16,000 new jobs over the next four years.
The agreement, signed by Ahmed El-Zaher, CEO of ITIDA, and Amr Sobhi, general manager of Concentrix Egypt, highlights the collaboration’s focus on expanding Concentrix Egypt’s export-driven services and supporting the growth of the nation’s outsourcing sector. The workforce is set to grow to 35,000 employees by 2028, making Concentrix one of Egypt’s largest multinational employers.
Prime Minister Mostafa Madbouly emphasized that Concentrix’s expansion aligns with Egypt’s goal of becoming a leading global outsourcing hub, with the country’s outsourcing sector expected to reach $9 billion by 2026. Minister of Communications and Information Technology, Amr Talaat, praised the expansion as a key driver of economic growth and youth employment, underlining the importance of digital skills in enhancing Egypt’s competitiveness.
Concentrix’s expansion, which began in 2009 with only 150 employees, has already grown to over 19,000 employees across 11 centers. The new investment is set to boost Egypt’s position as a key player in global outsourcing, with a focus on providing high-value job opportunities and a skilled talent pool.
