Egypt, UAE sign IT services export deal
CAIRO, EGYPT and DUBAI, UAE — Egypt’s Information Technology Industry Development Agency (ITIDA) and UAE-based Mashreq Global Network recently signed an agreement that is set to expand Egypt’s IT sector and create 300 banking services jobs.
The deal was signed in Dubai during the 2024 World Government Summit. Egyptian Prime Minister Mostafa Madbouly and Minister of Communications and IT Amr Talaat attended the ceremony.
Under the agreement, MGN commits to hiring a minimum of 300 additional Egyptian staff over three years, expanding its current Egyptian workforce of 116. The new hires will support retail banking, legal affairs, auditing, risk management, and other operations.
Mashreq Global will also broaden its offerings from Egypt, providing financial data analysis, business intelligence, and credit management solutions to Mashreq Bank.
Talaat highlighted the deal shows Egypt’s strength in the ICT sector, particularly in the business process outsourcing (BPO) and offshoring services industry.
He also highlighted the country’s deep talent pool, which helps multinational companies pick Egypt to expand their operations and establish captive centers for global delivery services.
ITIDA and MGN’s agreement aligns with Egypt’s five-year goal to double digital exports. ITIDA’s CEO said it reflects rising confidence in Egypt’s offshoring industry amid strong growth.
Mark Edwards, Group Head of Operations at Mashreq, said the expansion opens opportunities for Egyptian professionals while supporting the digital economy.
“We look forward to achieving a successful collaboration that creates opportunities and opens limitless horizons.”
