Prime Minister Mostafa Madbouly witnessed the signing of 55 memoranda of understanding (MoUs) between the Information Technology Industry Development Agency (ITIDA) and a mix of global and local firms to establish or expand operations in Egypt’s ICT sector. The agreements, inked during the Global Offshoring Summit, are expected to generate 70,000 new jobs across Egypt’s rapidly growing digital economy.
ICT Minister Amr Talaat emphasized that the deals align with Egypt’s Digital Egypt strategy, launched in 2019, which aims to transform the country into a global hub for digital services and production. Backed by a $6 billion investment in digital infrastructure, the government’s efforts have expanded fiber connectivity to 4,500 villages and positioned Egypt as Africa’s fastest and most affordable internet market.
Talaat noted that Egypt’s ICT sector now grows three to four times faster than the national economy, contributing significantly to GDP. He added that nearly one million Egyptians receive digital skills training annually, enabling a new generation of tech talent.
Major signatories include global leaders such as IBM, Ericsson, Capgemini, Deloitte, Teleperformance, HSBC, and Accenture. Of the 55 firms, 39 are expanding existing operations, while 16 are launching in Egypt for the first time. The new wave follows the 2022 summit, where 29 firms pledged 34,000 jobs—rising to 60,000 by 2024. Talaat affirmed, “The future of global digital services begins in Egypt.”
