New USD 3 million facility is one of IBM's most innovative global sales centers

Part of a three-year agreement with the Egyptian government to create more than 800 Egyptian jobs.

The new center is designed to transform the way IBM digitally engages with clients and business partners across 70 countries in the region.

Cairo, 16 February 2015: The opening this week of the IBM Middle East and Africa Digital Sales Center in Cairo, Egypt, represents the latest significant investment in Egypt's growing technology sector and demonstrates the central role the country plays as a hub for multinational firms to connect within the region.

"IBM's new center offers further evidence of the growing technology market in Egypt and will create local job opportunities which can only advance our position as a gateway for technology firms looking to reach the Middle East and North Africa," said Minister of Communications and Information Technology Atef Helmy.

IBM's new USD3 million center in Cairo is the latest in a series of the company's investments across the African continent. It is designed to transform the way IBM digitally engages with clients and business partners across 70 countries in the region. A specialized IT sales force will provide services to IBM clients in Arabic, English, French and Portuguese, using IBM's innovative technologies.

In 2014, IBM and the Egyptian Information Technology Industry Development  Agency (ITIDA)  embarked on a project to provide cloud computing expertise to 100 Egyptian software companies to help drive innovation and new cloud development skills in the country.  The goal is to boost Egypt's efforts to become a center of cloud computing excellence in the region.

IBM has been present in Egypt since 1954, serving clients across Africa since the 1920s.  The company has expanded its presence and investments in recent years and now has presence in 24 African countries.

Egypt is increasingly seeing foreign investment in the country's technology sector due to its large consumer population - it is the most populous Arab nation with 90 million people - and its highly-skilled, low-cost talent pool which has strong technical and language competencies.

Last month, Egypt-based mobile carrier Mobinil and UK-based Vodafone signed wholesale agreements with Telecom Egypt (TE) that are expected to generate EGP 15 billion (USD 2 billion) in revenues over the life of the long-term contracts. The agreements will allow the operators to access to TE's international gateway rather than acquiring their own gateway licenses.

Further development of the technology sector will be a key focus of the Egyptian Economic Development Conference (EEDC), which will take place on 13-15 March in Sharm el-Sheikh. The EEDC comes at a very important time for Egypt, as the country seeks to increase foreign investment and aims for economic growth of at least 4 per cent in 2015 and at least 7 per cent in the next decade.

The EEDC is part of an ambitious reform program underway in Egypt to restructure and transform the country's economic base by improving productivity, encouraging private sector-led growth while supporting social justice.  

The reforms Egypt has started to implement, and the inauguration of major projects, have boosted consumer and business confidence.  An economic turnaround has started to materialize in the country with a 6.8 per cent growth rate in the first quarter of the current fiscal year and the Egyptian government expects the growth rate for this year to be north of four per cent, above its initial target.  The economic progress being made in Egypt has been recognized with positive ratings from international rating agencies, the IMF and World Bank, among others.

About the EEDC
His Excellency President Abdel Fattah El-Sisi is proud to be hosting the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh on 13-15 March 2015. The conference will be a key milestone in the implementation of the government's medium term reform program designed to accelerate the economic development of Egypt.

Attracting leading global figures from business and politics, the EEDC will highlight the extensive reforms the government has already implemented and showcase future reforms designed to restore fiscal stability, drive growth and attract investment with the overarching aim of improving the welfare of the Egyptian people. The conference will also present investment opportunities, across key sectors, to domestic and international investors.

The EEDC will reaffirm Egypt's potential as a source of political and economic stability in the region and a trusted partner on the international stage.

For more details see the dedicated conference website: www.egyptthefuture.com

The dedicated Twitter feed is: @egyptthefuture

For more information please contact:
Peter Folland, Hill+Knowlton for the EEDC: peter.folland@hkstrategies.com;
+44 207 973 5935

Merrie Leininger, Hill+Knowlton for the EEDC: Merrie.Leininger@hkstrategies.com;
+1 202 944 5160

Mohamed Mohsen, Hill+Knowlton for the EEDC: Mohamed.mohsen@hkstrategies.com; +2 010 05739217

© Press Release 2015