Foundever adds 5,000 jobs in Egypt expansion
CAIRO, EGYPT — Foundever, a global customer experience (CX) solutions provider, is expanding its presence in Egypt with a €65 million (US$68.6 million) investment and plans to create 5,000 new jobs over the next four years.
The company’s expansion includes a new state-of-the-art facility in Luxor, adding to its existing operations in Cairo’s Maadi Technology Park and City Stars Business Complex.
Expanding Foundever’s reach across Egypt
The announcement comes as Foundever renews its four-year Memorandum of Understanding (MoU) with Egypt’s Information Technology Industry Development Agency (ITIDA). The agreement strengthens the company’s partnership with Egypt’s government, which has championed digital infrastructure and workforce training programs.
“Our investment in Luxor marks our first venture beyond Cairo, and we see a great potential for it to become an important customer service hub,” said Benedita Miranda, General Manager of the Multilingual Region at Foundever.
“More locations will follow as we continue to grow and contribute to Egypt’s digital and economic development.”
This partnership demonstrates Egypt’s growing prominence as a global hub for CX services and IT offshoring. The company has shown remarkable growth, achieving a 115% increase from 2023 and now serves 15 clients across 14 different languages.
“While Luxor marks a new chapter, Cairo remains our center of excellence for shared services, driving operations, innovation in AI, machine translation, and next-generation solutions for the region and beyond,” Mina Wahba, Country Lead in Egypt, added.
Foundever also offers comprehensive CX solutions while supporting local talent development, including innovative programs like “Freelance Mama” that helps mothers re-enter the workforce.
Foundever ranked #49 in the OA500 2024, an objective index of the world’s top 500 outsourcing companies.
ITIDA’s role in supporting growth
ITIDA, established in 2004, plays a crucial role in advancing Egypt’s IT sector and offshoring industry. The agency collaborates with various stakeholders to foster innovation and tech-driven entrepreneurship, leveraging Egypt’s population of over 106 million, including a significant pool of multilingual, educated youth.
“The decision by Foundever to grow its operations in Egypt underscores the trust that global CX and offshoring players place in Egypt’s unparalleled value proposition as a hub for IT and Business Process Outsourcing services,” Ahmed El-Zaher, CEO of ITIDA, noted.
“Their expansion into Luxor and other governorates highlights confidence in the exceptional talent and adaptability of Egyptian professionals.”
