ITIDA signs deal with UAE’s MGN to expand operations in Egypt

The signing ceremony, which was held on the sidelines of the Egyptian participation in the World Governments Summit in Dubai, was witnessed by Egyptian Prime Minister Mostafa Madbouly and Minister of Communication and Information Technology Amr Talaat.

Under the terms of the agreement, MGN commits to hiring a minimum of 300 new Egyptian employees over the three-year duration of the agreement. These new hires will be primarily engaged in export activities related to banking business services.

Moreover, MGN will expand its operations in Egypt including extending offshoring services, such as data analysis services, business intelligence, internal audit, credit management, and various financial and banking services in areas such as risk management, product management, and shariah governance.

The company also intends to export these services from Egypt to customers of Mashreq Bank.

Minister Talaat highlighted that the increased investment by MGN in Egypt underscores the competitiveness of the country’s ICT sector, particularly in the business process outsourcing (BPO) and offshoring services industry.

Talaat also stressed that Egypt is a premier choice for multinational companies looking to expand their operations and establish captive centres for global delivery services.

“This preference is attributed to Egypt's abundant pool of professional, multilingual talent with proven digital capabilities in diverse IT fields,” according to Talaat.