Majid Al Futtaim Global Solutions reinforces commitment to Egypt as key growth market

Announced signing an agreement with ITIDA that will further strengthen its operations in Egypt

Cairo, Egypt: Majid Al Futtaim Global Solutions announced signing an agreement with the IT Industry Development Agency (ITIDA) that will further strengthen its operations in Egypt. The agreement will further enhance the growth of Majid Al Futtaim Global Solutions’ Egypt center of excellence, which provides a range of diverse offerings such as finance, human capital, IT, procurement and government relations, across Majid Al Futtaim’s operating companies and offices present within 17 countries.

In presence of H.E. Prime Minister of Egypt Dr. Mostafa Madbouly, and Dr Amr Talaat, Minister of Communications and Information Technology, the agreement was signed by Eng. Amr Mahfouz, CEO, ITIDA and Mohamed ElGarhy, VP Finance Service Delivery at Majid Al Futtaim Global Solutions.

Taking place at Sultan Hussein Kamel Palace in Cairo; one of Egypt’s most historic gems, the signing event has seen several global tech companies and enterprises announcing their new investment or expansion of global delivery centers and shared services operations, showcasing sustained confidence in Egypt’s offshoring and outsourcing sector. The signing ceremony marked the second agreement between ITIDA and Majid Al Futtaim Global Solutions, following the establishment of Global Solutions’ operations in Egypt on August 2021.

Dr. Amr Talaat, Minister of Communications and Information Technology endorsed the agreement inked with Majid Al Futtaim (MAF) Global Solutions which comes amongst several agreements with 29 multinational companies, creating over 34 thousand jobs directed towards exports through 35 global delivery centers with export value worth USD 1 billion annually. “These agreements reflect “Egypt’s conducive business environment and multinationals’ confidence in our qualified local talent,” Talaat commented. 

H.E. Talaat underlined Egypt’s potential as the next big hub for digital and high-end services, thanks to the constant efforts made to boost Egypt’s competitiveness in the offshoring industry. “With its unique central location at the crossroads between 3 continents, Egypt delivers a resilient high-quality digital infrastructure, and provides a supportive legislative framework catching up with the global rapid growth,” he continued. “Our plentiful supply of tech talent is all set and ready at a competitive cost, with proven experience in business services delivery for global firms to more than 100 countries with 20 different languages,” Talaat affirmed.

Amr Mahfouz, former CEO of ITIDA, said: “We’re thrilled to reach an agreement with Majid Al Futtaim (MAF) Global Solutions, helping ITIDA achieve its strategic goals of the ambitious Digital Egypt strategy for the offshoring industry (2022-2026), that aims at multiplying the exports revenues from the offshoring sector, while creating more domestic jobs for our skilled pool of talent,”.

“ITIDA is working diligently to leverage the current geopolitical situation that led to major challenges across key delivery locations. As we monitor the global shortage of talents, we invest heavily in building the digital and soft skills of our large talent pool, with a strategic focus on developing the country’s capabilities in high-value services, including engineering, research & development (ER&D), embedded software, and electronic design,” Mahfouz added.

Commenting on the opening, Khaled El Chidiac, Chief Executive Officer at Majid Al Futtaim Global Solutions, stated: “the agreement is yet another opportunity to showcase our growth strategy and commitment to Egypt. ITIDA has been a key partner throughout every milestone of Majid Al Futtaim Global solutions’ success in Egypt. We are proud to continue to play a role in upskilling the Egyptian local talent and enhancing the capabilities of the ICT sector. Egypt is on the right track to become one of the top offshoring and outsourcing hubs in the world and at Majid Al Futtaim, we are honoured to be part of that journey.”

The diverse IT & digital services, abundance of talent, cost competitiveness, and the resilient business operations among with the government support, are among Egypt’s unique advantages that encourage global enterprises to launch and expand their global operations reinforcing the country’s reputation as a favorable, reliable IT offshoring destination and business services’ hub.

Majid Al Futtaim Global Solutions has been established to transform Majid Al Futtaim’s operating model into a more streamlined, connected business through its head offices in Egypt, enabling the organisation’s overall growth and sustainable development. Majid Global Solutions currently employs over 650 in Egypt and continues to grow further.

Atos opens new Global Delivery Center in Cairo

Prime Minister along with the Minister of Communications & IT witness signing agreement between Atos and Egypt’s ITIDA

  • Prime Minister along with the Minister of Communications & IT witness signing agreement between Atos and Egypt’s ITIDA to expand Atos’ operations in Egypt
  • The new GDC provides cutting-edge, best-in-class digital services to clients across the globe

Cairo, Egypt – Atos today announces the opening of its new Global Delivery Center (GDC) facility in Cairo, Egypt concluded in a formal signing ceremony together with the Egyptian Prime Minister, Mr. Mostafa Kamal Madbouly, and Egypt’s Minister of Communications and Information Technology, Dr. Amr Talaat.

With this new GDC, Atos reinforces its presence in the Middle East and Africa and its commitment to both regional and global clients. This new GDC will boost its offshore delivery capability in addition to enabling it to explore business prospects from the wider region.

Egypt produces 100,000 IT graduates each year, with a diverse, gender-balanced workforce. Over 80% of its young working population are fluent in languages such as Arabic, English, French and German. Egypt was also ranked the 4th most pandemic- resilient country, solidifying its position as one of the world’s best delivery locations1.

Leveraging Egypt’s diverse and skilled workforce and strong support from the Ministry of Communications and IT, Atos aims to provide cutting-edge, best-in-class digital services to its clients across the globe. It offers a full range of services, including digital workplace, application development, automated testing, project management, analytics and database, mainframe, server and infrastructure support to its clients with competitive pricing.

Dr. Amr Talaat, Egypt’s Minister of Communications and Information Technology endorsed the agreement inked with Atos which comes amongst several agreements with 29 multinational companies, creating over 34 thousand jobs directed towards exports through 35 global delivery centers with export value worth USD 1 billion annually. “These agreements reflect Egypt’s conducive business environment and multinationals’ confidence in our qualified local talent,” Talaat commented.

H.E. Talaat underlined Egypt’s potential to become the next big hub for digital and high- end services, thanks to the constant efforts made to boost Egypt’s competitiveness in the offshoring industry. “With its unique central location at the crossroads between 3 continents, Egypt delivers a resilient high-quality digital infrastructure, and provides a supportive legislative framework catching up with the global rapid growth,” he continued. “Our plentiful supply of tech talent is all set and ready at a competitive cost, with proven experience in business services delivery for global firms to more than 100 countries with 20 different languages,” Talaat affirmed.

Amr Mahfouz, CEO of ITIDA, said: “We’re thrilled to reach an agreement with Atos, helping ITIDA achieve its strategic goals of the ambitious Digital Egypt strategy for the offshoring industry (2022-2026), that aims at multiplying the exports revenues from the offshoring sector, while creating more domestic jobs for our skilled pool of talent.”

“ITIDA is working diligently to leverage the current geopolitical situation that led to major challenges across key delivery locations, while simultaneously monitoring the global shortage of talents. We invest heavily in building the digital and soft skills of our large talent pool, with a strategic focus on developing the country’s capabilities in the high-value services, including engineering, research & development (ER&D), embedded software, and electronic design,” Mahfouz added.

The diversity of the IT and business services provided in Egypt, along with its cost competitiveness, and government support, encourage global enterprises to launch and expand their global operations reinforcing the country’s reputation as a favorable, reliable IT offshoring destination and business services hub.

Sven Hesterman, Head of Global Delivery Centers Atos, said “We are proud and excited to open a new Global Delivery Centre in Egypt, adding our network of award-winning centres around the world. The talented and diverse workforce in Egypt is an excellent addition to the thousands of dedicated colleagues we have in our centres around the world, serving our customers on a daily basis.”

Ahmad Elharany, General Manager Egypt at Atos, “Our focus is to establish Egypt as one of the key Global Delivery Centers for the Atos Group and its clients worldwide. We aim to bring in a highly skilled workforce along with the right mix of onsite, onshore and offshore capabilities to meet our customers’ needs. We will continue to invest in recruiting and developing the right skill sets and enhancing our existing talent pool through continuous training and development programmes”.

Now with 350 IT professionals, Atos in Egypt plans to hire another 1,000 employees over the next 12 months with an emphasis on local talent. Atos will continue its investment in premise extension, training and skill set development and recruitment of local resources.

Egypt’s IT offshoring and business services sector sees strong growth momentum

With 29 new agreements with technology MNCs

  • A signing ceremony between ITIDA and 29 global enterprises was held in Cairo, showcasing sustained confidence in Egypt’s offshoring and outsourcing sector
  • The agreements, witnessed by Egypt’s Prime Minister, create over 34k jobs directed towards exports 

CAIRO, Dec. /PRNewswire/ — Branded as an attractive Mediterranean hub, Egypt is a choice for many as a big business destination, given its premium offshoring status. The country has proved its resilience as a leading global IT offshoring and outsourcing hub with numerous investments in the sector over the past few years. Today, the confidence of multinational partners in Egypt’s highly skilled talent pool is highlighted through a signing ceremony held by the Information Technology Industry Development Agency (ITIDA) cementing Egypt’s position as a leading global offshoring and outsourcing hub.

The signing ceremony of 29 agreements with big IT offshoring and business process services providers, was witnessed by the Prime Minister of Egypt Dr. Mostafa Madbouly, in the presence of Minister of Communications and Information Technology, Dr. Amr Talaat, at Sultan Hussein Kamel Palace in Cairo; one of Egypt’s most historic gems.

Dr. Amr Talaat, Minister of Communications and Information Technology endorsed the agreements inked with 29 multinational companies, that creates over 34 thousand jobs directed towards exports through 35 global delivery centers with export value worth USD 1 billion annually. “These agreements reflect Egypt’s conducive business environment and multinationals’ confidence in our qualified local talent,” Talaat commented.

H.E. Talaat underlined Egypt’s potential as the next big hub for digital and high-end services, thanks to the constant efforts made to boost Egypt’s competitiveness in the offshoring industry. “With its unique central location at the crossroads between 3 continents, Egypt delivers a resilient high-quality digital infrastructure, and provides a supportive legislative framework catching up with the global rapid growth,” he continued. “Our plentiful supply of tech talent is all set and ready at a very competitive cost, with proven experience in business services delivery for global firms to more than 100 countries with 20 different languages,” Talaat affirmed.

Egypt’s offshoring industry is witnessing an unprecedented momentum of growth. The country enjoys many competitive advantages that established its reputation as a favorable global offshoring destination. The diverse IT & digital services, abundance of talent, cost competitiveness, resilient business operations, and the government’s support are among Egypt’s unique value proposition that encourage global enterprises to launch and expand their global operations.

Amr Mahfouz, CEO of ITIDA, said: “We’re thrilled to sign so many business agreements with global technology companies, which demonstrates the strength of Egypt’s IT sector to attract new business and cement existing relationships. The current geopolitical risks have led to major challenges and service disruption across key delivery locations, combined with the aching global shortage of talent. But through our mission to support the development of the technology sector in Egypt, ITIDA has helped industry players to be well-positioned and supplied with highly skilled, reliable talent, making Egypt the best option for multinationals looking to offshore and outsource their business.

“ITIDA continues to invest heavily in building the digital and soft skills of our large talent pool, with a strategic focus on developing the country’s capabilities in the high-value services, including engineering, research & development (ER&D), embedded software, and electronic design. This latest round of deals will be a significant contributor in helping ITIDA to achieve the goals of the Digital Egypt strategy for the offshoring industry which aims to multiply export revenues and create high-value job opportunities for our skilled domestic talent pool,” Mahfouz added.

The value of Egypt’s digital exports will increase by $1 billion annually, marking a significant growth to the current export revenue of $4.9 billion. Moreover, the agreements include both new partnerships with leading technology companies launching global delivery centers first time, and expansions of existing successful business relationships which will triple the size of operations in Egypt.

Entering the country for the first time are Capgemini, Evolvice, Nortal, PWC, Tech Mahindra, and Trimetis. While the leading companies who are expanding their current business include Advansys ESC, Amazon, ATOS, IBM Egypt, Microsoft, Majid Al Futtaim Global Solutions, Majorel, MEAPAL, Concentrix, MicroWize Technology, CrossWorkers, Dell Technologies, Pepsico, Expleo, SEITECH Solutions, Honeywell, Sitel Group, Sutherland, Webhelp, SYS Misr for Information Technology Services, Pixelogic, Valeo, and Vodafone Intelligent Solutions.

The 34,000 new jobs will spread across different export sectors including 21,000 in the Business Process Services sector (Contact Centers and Shared Services Centers), 10,500 in the IT Services sector, and 3,000 in the Engineering, Research & Development (ER&D) sector.

The agreements signing is in line with ITIDA’s mandate and strategic objectives to drive more foreign investments in the IT sector, increase Egypt’s digital exports, and create more jobs in the offshoring sector. Last February, the Information Technology Industry Development Agency (ITIDA) launched the Digital Egypt Strategy for Offshoring (2022-2026) to unlock further growth potential in the industry, based on a thorough and objective study of the Egyptian market and the global demand.

A few days away from the Euromoney Egypt Conference 2022 launch on 7 December in Cairo

The conference will review 2022 as well as the year ahead to get a clear picture of the Egyptian finance and investment narrative

Cairo, Egypt: The 25th edition of the Euromoney Egypt Conference will be held under the auspices of, and opened by, His Excellency Dr. Moustafa Madbouly, Prime Minister of Egypt. His Excellency Dr. Mohamed Maait, Egypt’s Minister of Finance, will also be participating along with other high-profile local and international speakers such as: H.E. Dr. Amr Talaat, Minister of Communications and Information Technology, Government of Egypt; Ayman Soliman, Chief Executive Officer, The Sovereign Fund of Egypt; Dr. Mohamed Farid Saleh, Executive Chairman, Financial Regulatory Authority (FRA); and Ahmed Kouchouk, Vice Minister of Finance for Fiscal Policies, Government of Egypt.

Delegates will have the opportunity to meet with and hear from senior representatives from the Egyptian Government, as well as local and international investors, financiers, and business leaders.

The conference will review 2022 as well as the year ahead to get a clear picture of the Egyptian finance and investment narrative and ask the questions:

  • Is the country still fragile or has the freeing of the Egyptian pound been a lasting turning point? The markets seem to think so. But can this trend continue and what else lies ahead for this pivotal Arab nation?
  • Can Egypt’s shift towards sustainability and low carbon energy be maintained and what opportunities does this present for global capital? All these key questions will be answered and many more. This event provides a significant opportunity to stay ahead of the curve in what is going to be a roller-coaster year in the global economy.

The lead sponsors of the conference are Mashreq Bank and Standard Chartered. The co-sponsor is Citibank. Find out more through the conference website, where you can view the full agenda:  https://events.euromoney.com/egypt2022