Opening of a PwC British Company Center in Egypt Providing 5,000 Jobs

PwC

The Egyptian Prime Minister's page posted a statement issued by the Ministry of Communications and Information Technology, announcing the opening of the Egypt Technology and Innovation Center (ETIC), affiliated with PricewaterhouseCoopers (PwC). PwC, a UK-based global leader in consulting and professional services, has invested $10 million in the center located in Cairo. The company aims to innovate digital solutions and apply them in key areas such as cloud services, data analytics, and cybersecurity for the Egyptian market and export to the company's clients in the Middle East and Europe markets.

The Egypt Technology and Innovation Center (ETIC) has already hired 400 technology experts. The center plans to provide 5000 job opportunities by 2025 and achieve digital exports worth $300 million over three years.

The technology experts at the center will work with PwC consulting teams across the Middle East, the United Kingdom, Germany, and the Netherlands to develop tech solutions focused on enterprise applications, supporting PwC's business growth in areas of data science, data analytics, cybersecurity, and artificial intelligence.

Dr. Amr Talaat, Minister of Communications and Information Technology, confirmed that the interest of global companies like PwC in investing in Egypt and employing Egyptian youth in their centers specialized in developing advanced technologies reflects Egypt's distinguished position on the global map for the development and export of advanced technology and value-added services with an outsourcing system.

The British Ambassador in Egypt, Gareth Bailey, commented, "I am very proud to see PwC, a British company and one of the world's largest professional services providers, opening its new technology and innovation center here in Cairo. The opening of this center could not come at a better time, as Egypt continues its digital transformation journey. This center will bring PwC's extensive expertise in digital solutions to the Egyptian and regional markets, and support enterprises for development and global competition."

Ahmed Al-Zaher, CEO of the IT Industry Development Agency "ITIDA", clarified that the agency aims to enhance Egypt's competitiveness in the field of high-value services export and value-added services by attracting global companies and specialized centers in knowledge-based sectors and engineering research and development services, such as the advanced Egypt Technology and Innovation Center affiliated with PwC. He pointed to the role played by the agency in developing the capacities of human resources and specialized digital skills, international promotion efforts, and showcasing Egypt's unique advantages to attract more foreign investments in the Egyptian outsourcing sector.

Wael Mustafa, Partner at PwC Middle East and Head of the Egypt Technology and Innovation Center, said, "Amidst the digital revolution Egypt is witnessing, we are honored to play a role in the country's digital transformation agenda. The opening of the center reinforces our commitment to building a community of analysts who develop solutions that support technology and help reimagine the future of business. This also represents an important step for the company since its longstanding presence in Egypt. With the government's efforts to promote Egypt's position as a favorable and reliable destination for outsourcing services and providing cross-border IT services, we are confident that the Egypt Technology and Innovation Center will complement PwC's current digital capabilities in innovation on both the regional and global levels."

The establishment of PwC's Egypt Technology and Innovation Center aligns with its vision to expand in the region in general and in Egypt in particular. It strengthens the company's commitment to accelerating digital transformation throughout the region. It also comes as part of the company's ongoing and long-term investment in digital transformation and digital skills in Egypt, in addition to supporting the government's efforts to enhance Egypt's competitive capabilities in the outsourcing industry and cross-border services.

It's worth mentioning that last year, PwC signed a strategic memorandum of understanding with the Information Technology Industry Development Agency (ITIDA) to enhance the company's ongoing investment in its capabilities.

PwC is a network of firms present in 152 countries and employs nearly 328,000 people who are committed to delivering the highest standards of quality in auditing, consulting, and tax services.