Egypt’s ICT becomes the “highest” growing sector for 2021
The Information and Communications Technology (ICT) industry is Egypt’s highest growing sector for 2021, with a growth rate of 16%.
According to Information Technology Industry Development Agency (ITIDA) CEO Amr Mahfouz, the sector’s contribution to the country’s Gross Domestic Product (GDP) increased from 2020’s 4.4% to the current 5%.
“The value of Egypt’s digital exports grew from $4.1 billion in 2019/2020 to $4.5 billion in 2020/2021,” he stated.
The Assistant Minister pointed out that Egypt is already home to 500 Fortune companies with the likes of Valeo, Teleperformance, Amazon, Microsoft, IBM, Uber, and many more tech giants. Tech unicorns and startups like Instabug, Vezeeta, Fawry, and Swvl has also established their presence in the country.
“We’re confident that the sector will witness further growth amid the accelerated endeavors to achieve full digital transformation and the increased reliance on automation and digital services,” Mahfouz added.
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