Deloitte UK will inject $30 million into Egypt’s economy on the sidelines of officially inaugurating the Deloitte Innovation Hub in Cairo, which started operations in September.
According to a statement released by the Information Technology Industry Development Agency (ITIDA), the fund aims to boost the country’s talent ecosystem over the next three years.
Launching the Hub in Egypt demonstrates Deloitte’s acknowledgment of the country’s rich talent base in Computer Science, Computer Engineering, Business & Information Systems, and Data Engineering.
“The Innovation Hub will enable us to foster and develop local talent, making an impact that matters to Egyptian people and society, as well as deliver exceptional value to our clients across different markets in Europe and the Middle East,” said Hani Girgis, leader of the Innovation Hub in the statement.
In line with that, the Egyptian Minister of Communication and Information Technology Amr Talaat stated that “the opening of the Deloitte Innovation Hub in Cairo demonstrates global confidence in Egypt as a prime destination for IT services and digital innovation.”
He highlighted Egypt’s robust pool of young skilled talent in modern digital technologies, which draws foreign investments. Talaat also stressed the state’s commitment to creating high-value jobs for Egyptian youth. This will in turn boost Egypt’s digital exports which already reached $6.2 billion in 2023.
The newly established Innovation Hub seeks to offer a comprehensive range of services to clients in Europe and the region, including Artificial Intelligence, Data Analysis, Marketing, Cloud solutions, Cybersecurity, and Enterprise Resource Planning.
The Deloitte Innovation Hub in Cairo stands as one of the firm’s pioneering delivery centers. Since it commenced operations, the Innovation Hub has swiftly expanded to include over 350 of Egypt’s finest talents, ranging from fresh graduates to experienced hires, underscoring its dedication to nurturing and empowering local talent.
Notably, the agreed-on initiative plans to create around 5,000 jobs in the coming years.
According to Ahmed El Zaher, CEO of ITIDA, the hub will enhance the digital economy, and strengthen Egypt’s position on the global outsourcing map. He added that the hub will provide an environment conducive to innovation and the development of modern, highly specialized, and valuable tech solutions to meet global market needs, thus increasing Egypt’s IT service exports.
Deloitte was established more than 175 years ago and it started operating in the Middle East in 1926. The company delivers a set of services, including auditing and assurance, tax and legal advisory, general consulting, financial advisory, and risk consulting. The firm supports around 90% of the Fortune Global 500 companies in addition to thousands of private enterprises globally.
