Konecta to establish regional HQ in Egypt with $100M investment plan

Updated 1/12/2025 9:20:00 AM

Arab Finance: Prime Minister Mostafa Madbouly witnessed the signing ceremony of a memorandum of understanding (MoU) between the Information Technology Industry Development Agency (ITIDA) and Konecta Egypt, an arm of Spain’s Konecta, according to a press release.

The joint agreement was signed by Ahmed El-Zaher, CEO of ITIDA, and Ahmed El-Harany, CEO of Konecta for the Middle East and Africa.

Through the MoU, Konecta Group will operate in Egypt by setting up a regional headquarters in New Cairo to serve markets across the Middle East, Africa, Europe, and the Americas.

This marks the Spanish company’s first Global Center of Excellence (CoE) for Gen-AI in Egypt, serving its global delivery operations and leveraging the group's knowledge and expertise.

The company intends to invest around $100 million over the next three years and employ 3,000 specialists to deliver advanced digital and technical services.

It will deploy AI solutions, digital transformation, cybersecurity, the internet of things (IoT), and multilingual customer services in English, French, German, Italian, and Spanish.

Amr Talaat, Minister of Communications and Information Technology, commented: "The growth of the offshoring industry and the rising interest from global companies in establishing service centers in Egypt to deliver advanced digital services highlight the country’s competitiveness in this thriving sector.”

"Konecta’s decision to expand its operations in Egypt will not only create valuable job opportunities but also play a pivotal role in developing young talents capable of meeting the growing demand for outsourcing services across European, American, and Middle Eastern markets,” Talaat added.

Ahmed El-Zaher, CEO of ITIDA, stated: "It [the partnership] will generate diverse job opportunities across key areas, including business process outsourcing, IT services, and engineering R&D."

Nourdine Bihmane, Group CEO of Konecta, noted: “By establishing our regional headquarters in Egypt, we aim to harness the country’s exceptional talent pool to deliver cutting-edge digital solutions and foster a highly skilled workforce that will shape the future of customer experience globally.”