Deloitte has inaugurated its first-ever Innovation Hub in Cairo, Egypt, with a significant investment of $30 million over three years. This development marks a strategic milestone for Deloitte, aiming to expand Egypt’s role as a hub for IT services and digital innovation in the Middle East and Europe.
The launch was graced by Egypt’s Minister of Communications and Information Technology, Dr. Amr Talaat, along with senior officials from Deloitte and the Information Technology Industry Development Agency (ITIDA).
The Deloitte Innovation Hub, a first for the company, will deliver various advanced technology services to clients across Europe and the Middle East, including artificial intelligence, data analysis, marketing, cybersecurity, and enterprise resource planning.
With plans to employ up to 5,000 individuals in the coming years, the hub will not only provide valuable services to clients but also foster local talent, creating high-value jobs and furthering Egypt’s digital exports.
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Dr. Talaat emphasized that this move underscores global confidence in Egypt as a prime destination for digital services. He highlighted the government’s commitment to expanding high-value job opportunities, bolstering digital exports, and cultivating a knowledge-based economy.
Egypt’s digital exports have grown significantly, reaching $6.2 billion in 2023, up 26% from the previous year. Government efforts aim to continue this trajectory, with ambitious plans for youth training, projected to grow the outsourcing workforce to 130,000 by 2024 and potentially hit 550,000 by 2026, driving digital exports even higher.
Ahmed El Zaher, CEO of ITIDA, praised the Deloitte Innovation Hub’s role in shaping Egypt’s competitive edge in the global digital economy. The ICT sector in Egypt has grown substantially, with contributions to the GDP increasing from 4.4 percent in FY 2019/2020 to an expected 5.1 percent in FY 2022/2023.
