Egypt’s Digital Economy to Reach Record-High EGP 62 Billion in 2017

In Egypt, ICT’s contribution to GDP is currently at EGP 56 billion
Digital-Egypt-Pyramids

Egypt’s digital economy is set to reach a record-high of EGP 62 billion in 2017, with nationwide digital transformation improving daily lives and businesses, leading organizations announced today at the Egypt Inspire event hosted by digital transformation enabler SAP.

In Egypt, ICT’s contribution to GDP is currently at EGP 56 billion, according to the Ministry of Communications and Information Technology. With 10 percent annual growth, the contribution could reach a record-high of EGP 62 billion in 2017. Small businesses will be a catalyst for Egypt’s technology-backed economic growth, with the United Nations’ Social Fund for Development loaning over EGP 3 billion to 150,000 micro-businesses and 15,000 small businesses.

With Egypt’s economy transforming, the Cairo-based Qalaa Holdings (formerly known as Citadel Capital, CCAP.caqalaaholdings.com), an African leader in Infrastructure and Energy, believes that investment in Egypt’s technology sector will drive growth.

“Public-private partnerships are essential for Egypt’s nationwide digital transformation to deliver sustainable economic, social, and environmental growth. Qalaa Holdings has seen strong business success on our own digital transformation, and we’re eager to share best practices with Egypt’s public and private sector organizations to drive Egypt’s diversified economy and national competitiveness,” said Mr. Ahmed Abd El Sattar, Group CIO, Qalaa Holdings.

Using business solutions running on the SAP HANA in-memory platform, Qalaa Holdings has simplified its IT landscape, and is driving real-time financial reporting and business analytics.

One of Egypt’s leading digital transformation enablers, EOH, an ARETA Global company, argues that the cloud will usher in new business insights and transform the citizen and customer experience, especially for SMEs. Cloud services will align with the Ministry of Communications and Information Technology’s ICT 2030 Strategy to unlock more growth opportunities for organizations of all sizes and verticals.

Egypt Inspire

“Egypt’s organizations want to stay relevant and competitive in the Digital Economy. Channel partners, such as EOH, help organizations, especially SMEs, to adopt cloud solutions. With the cloud, SMEs can gain the same levels of business competitiveness as large enterprises. We are exchanging smart tools and global resources for Egypt’s organizations to build for the future,” said Islam Youssef, Chief Technology Officer, EOH.

SAP Appoints New Egypt MD and Invests in Egyptian Talent Development

Signifying the strength of Egypt’s Digital Economy, SAP today announced a new investment plan for Egypt, crowned with the appointment of a new Managing Director for Egypt, Cherif Morcos.

Based in Cairo, Engineer Cherif Morcos brings more than 20 years of technology experience, and will report directly to Gergi Abboud, Managing Director for the Gulf, Levant, North Africa, and Pakistan at SAP.

“Egypt’s economy is rebounding, and 2018 will be a vital year for organizations to undergo digital transformation. The success of Egypt Inspire emphasizes SAP’s commitment to supporting Egyptian organizations with fresh ideas, practical strategies, real-life case studies, and partnering with public, private, and educational institutions to enable Egypt’s workforce of the future,” said Eng. Cherif Morcos, Managing Director, SAP Egypt.

Supporting Egypt’s digital economy and business innovation, the SAP Training and Development Institute launched the WINnovate design thinking program, which aims to embed a culture of innovation in organizations. The Institute also supports partnership with educational institutions, startups, and a Dual Study Program partnership with the German University in Cairo.

“Cherif Morcos has strong leadership qualities and in-depth knowledge of the challenges and opportunities facing Egypt’s organizations in their digital transformation. Our Egypt Inspire event is serving as a launch pad for Egypt’s organizations to exchange best practices, and seize the opportunity to drive new digital business models and upskill their staff on technology innovations,” said Gergi Abboud, Managing Director for the Gulf, Levant, North Africa, and Pakistan at SAP.

At the SAP Inspire event, hundreds of Egypt’s decision-makers from across the public, private, and academic sectors, along with startup enablers, discussed and debated the future of business innovation, experienced the latest cloud technologies across artificial intelligence, blockchain, machine learning, and the Internet of Things, and networked with their peers.

Knowledge Hub Specialized in Publishing Insights and Analytics Developed for Digital Marketing, Public Relations and Communications Experts.

Here's some more stories...