Latest news with #El-Zaher
Zawya
30-04-2025
- Business
- Zawya
Egypt showcases digital ambitions at AmCham Investment Conference
Cairo, Egypt — Egypt is strengthening its position as a global hub for digital business services and technology innovation. At the American Chamber of Commerce in Egypt's Investment Conference, held on April 29, Ahmed El-Zaher, CEO of the Information Technology Industry Development Agency (ITIDA), participated in a high-level panel discussion titled 'A Hub for Digital Innovation: Untapped Opportunities.' During the session, El-Zaher underscored Egypt's expanding role in the global offshoring landscape, citing its strategic geographical location, multilingual and cost-effective talent pool, and continued public investment in digital infrastructure and innovation ecosystems. 'Egypt offers an exceptional platform for investors and technology companies aiming to scale regionally and globally,' said El-Zaher. 'With over 760,000 university graduates annually—including 50,000 in ICT, approximately 171,000 in finance and accounting, and 28% in STEM fields—combined with 80% foreign-language proficiency among the workforce, Egypt stands out in the global services market.' He added that Egypt delivers cost savings of up to 68% in outsourcing operations —across contact centers, business process services, IT, engineering R&D, and embedded software—compared to traditional outsourcing destinations. A Mature Destination for Services Delivery El-Zaher also emphasized ITIDA's strategic priorities: attracting foreign direct investment (FDI), accelerating digital skills development, and advancing Egypt's IT offshoring ecosystem. 'Egypt is already home to more than 205 global service delivery centers—cementing its position as a leading offshoring destination and a rising hub for high-value digital services,' he said. Scaling Egypt's Digital Talent Pipeline ITIDA CEO spotlighted key government-led programs aimed at equipping youth with market-ready digital skills. These initiatives, driven by the Ministry of Communications and Information Technology (MCIT) and delivered through affiliated institutions such as the Information Technology Institute (ITI) and the National Telecommunication Institute (NTI), aim to train 500,000 individuals in 2024–2025. 'Our 'Train-to-Hire' model ensures talent isn't just trained—it's job-ready,' El-Zaher noted. 'Through close collaboration with institutions like ITI and NTI, we're closing the gap between education and industry demands.' A High-Profile Industry Dialogue The panel featured an influential lineup of speakers: Mr. Ahmed Yehia, CEO of Fintech and Digital Lifestyle at e& Egypt Ms. Amal Enan, Managing Partner at 500 Global Mr. Todd Wilcox, Co-Chair of AmCham's Banking Committee and CEO and Deputy Chair of HSBC Mr. Mohamed Refaie Ahmed, Global Enterprise Networking Services Practice Leader at IBM The discussion was moderated by Mr. Hossam Seifeldin, Co-Chair of AmCham's Digital Transformation Committee and CEO of Capgemini Egypt. Towards Resilient Growth Held under the theme 'Towards Resilient Growth: Egypt's Future as an Investment Hub', the AmCham conference brought together a distinguished audience of policymakers, business leaders, and global investors. The event explored Egypt's growing competitiveness as a destination for foreign capital and innovation-driven investment.
Al-Ahram Weekly
29-01-2025
- Business
- Al-Ahram Weekly
ITIDA, Concentrix sign MoU to invest $1 bln in Egypt's outsourcing landscape - Tech
The Information Technology Industry Development Agency (ITIDA) and global technology services leader Concentrix have signed a memorandum of understanding (MoU) to invest $1 billion in Egypt's outsourcing landscape. This partnership aligns with ITIDA's mission to attract international investments, empower local talent, and advance Egypt's digital strategy, further solidifying the country's leadership in the global digital economy. According to an Egyptian cabinet statement released on Tuesday, Ahmed El-Zaher, CEO of ITIDA, and Amr Sobhi, general manager of Concentrix Egypt, signed the MoU. The agreement aims to strengthen collaboration between the two entities and support the growth of Concentrix Egypt's export-driven services in wider international markets. It outlines the company's ambitious plan to create 16,000 new jobs over the next four years, positioning Concentrix as one of Egypt's largest multinational employers. Concentrix's workforce in Egypt will expand to 35,000 employees by 2028, supporting the nation's strategy to foster sustainable youth employment and enhancing Egypt's vibrant ICT sector. Prime Minister Mostafa Madbouly highlighted that Concentrix's decision to expand its operations in Egypt through new investments and workforce growth underscores the country's rising role as a leading global outsourcing hub. Egypt's outsourcing sector exports surged from $2.4 billion in 2022 to $3.7 billion in 2023, aiming to reach $9 billion by 2026, as reported by the Information and Decision Support Centre (IDSC). Madbouly pointed out the government's efforts to foster a business-friendly environment for global outsourcing firms and to invest in the development of digital skills, enabling the production of multilingual and digital services at competitive costs. "This expansion — the largest in Egypt's outsourcing history — strengthens the sector's global competitiveness and contributes to creating thousands of high-value job opportunities for young Egyptians," Minister of Communications and Information Technology Amr Talaat stated. Talaat added that the outsourcing industry is a key driver of economic development, advancing digital exports and promoting inclusive growth by equipping the nation's youth with essential digital skills. El-Zaher pointed out that Concentrix's expansion underscores Egypt's advantages, including a skilled talent pool, multilingual capabilities, cost-efficient operations, and strong government support. Since its inception in 2009 with just 150 employees, the company has more than doubled its workforce in the past four years, employing over 19,000 people across 11 centres in various governorates. El-Zaher emphasized that this growth demonstrates Egypt's robust digital infrastructure and its ability to provide scalable talent solutions for IT businesses and global service delivery centres. Chris Caldwell, president and CEO of Concentrix, praised Egypt's leadership for its support of the country's ICT industry. He highlighted Egypt's skilled workforce, safety, and resilient economy, noting that the expansion reflects Concentrix's confidence in Egypt's rising role as a global business hub. Sobhi expressed enthusiasm about the ITIDA partnership, adding that 95 percent of the company's employees are university graduates, positioning Concentrix Egypt to further expand its global influence and service delivery. Concentrix, which provides technical support and customer service to global clients across diverse markets, plans to strengthen its presence in existing centres and expand into Mansoura, demonstrating its commitment to growing its operations and boosting Egypt's outsourcing service exports. Short link:
