The Egyptian government's recent surge in investments in the digital sector reflects its recognition of technology's potential to drive economic growth and exports. This increased focus on digitalization aims to bolster Egypt's capabilities in outsourcing, a key pillar in the country's aspirations to become a regional technology hub.

Egypt's Information Technology Industry Development Authority (ITIDA) and UAE-based Mashreq Global Network inked a cooperation agreement today at the World Government Summit, aiming to create 300 digital banking jobs for Egyptian professionals over three years.

This partnership goes beyond job creation, enabling Mashreq to expand its Egyptian operations in data analysis, business intelligence, and internal auditing. These services will be exported from Egypt to Mashreq Bank clients in the UAE, bolstering Egypt's digital export ambitions.

According to Egypt’s Minister of Telecommunications and Information Technology, Amr Talaat, the agreement reflects the attractiveness of Egypt's ICT sector, which has become a target for international companies seeking expansion.

The deal aligns with Egypt's 2022-2026 Digital Strategy for the Development of the Outsourcing Industry, which aims to double digital exports and create 34,000 export-oriented jobs by 2025.

Egypt's investments in the digital services export sector yielded $6.2 billion in 2023, a 26.5% increase from the previous year. The country eyes reaching nearly $9 billion by 2026.

Samira Njoya