The European Bank for Reconstruction and Development (EBRD) has partnered with Transfora, a business process automation company, and a subsidiary of the Kuwaiti firm Agility, to fund and develop a digital operations platform for the Suez Canal Economic Zone (SCZone), according to a statement released on October 2.
SCZONE digitization
As per the agreement, Agility will provide Transfora with a 360-degree enterprise management platform, which will help SCZone manage inquiries from prospective investors and essential documentation.
Transfora is a low-code enterprise digitalization platform that integrates with a range of line-of-business systems, both in the cloud and on-premise. According to the statement, it is user-friendly for stakeholders, allowing easy modification and customization, and is accessible via desktops and mobile devices.
The planned platform will act as a comprehensive service hub for businesses and investors in the SCZone, said Waleed Khoury, VP of Strategic Projects at Agility and CEO of Transfora. It will also provide reporting and analytics capabilities, and grant access to over 60 electronic services for investors either current or potential.
Agility Economic Zones will also facilitate connections between SCZone authorities, customs officials, and regulators with investors, carriers, logistics service providers, shippers, and companies involved in manufacturing, assembly, and processing operations within the zone.
“We are keen to enhance partnerships and cooperation with EBRD, Agility, Transfora, and all the concerned parties to ensure the creation of a competitive and attractive business environment for investments in targeted projects,” said Waleid Gamal El Dien, SCZone Chairman, in the statement.
He added that this cooperation will allow the SCZone to elevate standards, improve data collection, and strengthen its overall structure.
Wael Khalifa, CEO of Agility Economic Zones, emphasized that adopting the Transfora platform within SCZone will enhance its efficiency and accelerate its development as a global center for maritime transport and logistics services. The zone has also established customs and logistics centers and is actively working to automate and integrate customs processes and operations for customs departments and other government agencies.
Transfora is owned by Agility, a multi-business owner and operator with significant investments in the SCZONE and Egypt. Since 2022, Agility’s Agility Economic Zones subsidiary has been the SCZONE’s modernization and development partner. Agility Economic Zones is implementing the SCZONE’s strategic vision in services, logistics and industrial zone support and has established customs and logistics centers in the zone. It is working to automate and integrate customs processes and operations for customs departments and other government agencies.
The Transfora project is one of many contributions by the EBRD in Egypt. The bank has provided funding, loans, and support for various initiatives, including renewable energy, infrastructure, female entrepreneurship, and financing for small and medium enterprises.
SCZone revenues
SCZONE’s revenues reached an all-time high of EGP 8.25 billion in FY 2023/2024, marking a 36% increase from EGP 6.07 billion compared to FY 2022/2023.
During the first board of directors meeting for FY 2024/2025, Gamal El-Din reported that SCZONE’s general surplus grew by 33%, reaching EGP 5.42 billion, up from EGP 4.08 billion in FY 2022/2023.
