Egypt’s digital economy to hit record $3.5 billion in 2017

Egypt’s digital economy is set to reach a record-high of $3.5 billion, organisations announced today at the Egypt Inspire event hosted by SAP.

The applications firm also announced a new investment plan for Egypt, and the appointment of a new managing director for Egypt, Cherif Morcos.

In Egypt, ICT’s contribution to GDP is currently $3.17 billion, according to the Ministry of Communications and Information Technology.

With 10 percent annual growth, the contribution could reach a record-high of $3.5 billion in 2017.

Cairo-based Qalaa Holdings, an African leader in Infrastructure and Energy, 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,” Ahmed Abd El Sattar, group CIO, Qalaa Holdings said. “Qalaa Holdings has seen strong business success in our own digital transformation, and we’re eager to share best practices with Egypt’s public and private sector organisations to drive Egypt’s diversified economy and national competitiveness.”