Egypt’s digital economy is set to reach a record-high of $3.5 billion in 2017, leading organizations announced today at the Egypt Inspire event hosted by digital transformation enabler and market leader in enterprise application software, SAP.
In Egypt, ICT’s contribution to GDP is currently at $3.16bn said the Ministry of Communications and Information Technology.
Organizations agreed small businesses will be a catalyst for Egypt’s technology-backed economic growth, with the United Nations’ Social Fund for Development loaning over $169.7 million to 150,000 micro-businesses and 15,000 small businesses.
Tech industry a driver
With Egypt’s economy transforming, the Cairo-based Qalaa Holdings (formerly known as Citadel Capital) believes that investment in Egypt’s technology sector will drive growth.
“Public-private partnerships are essential for Egypt’s nationwide digital transformation to deliver sustainable economic, social, and environmental growth,” said Mr. Ahmed Abd El Sattar, Group CIO, Qalaa Holdings, an African leader in Infrastructure and Energy.
One of Egypt’s leading digital transformation enablers, EOH, an ARETA Global company, argues that the cloud will usher in new business insights and transform the citizen and customer experience, especially for SMEs.
“Egypt’s organizations want to stay relevant and competitive in the Digital Economy. With the cloud, SMEs can gain the same levels of business competitiveness as large enterprises,” said Islam Youssef, Chief Technology Officer, EOH.