Prime Minister Mostafa Madbouly inaugurated OPPO’s new mobile phone factory in 10th of Ramadan City, marking a major step in the company’s $50 million investment plan to expand manufacturing operations in Egypt.

valU, MENA’s financial technology platform, has partnered with MobileMasr, Egypt’s tech-driven marketplace for second-hand electronics, to introduce the country’s first peer-to-peer Buy-Now, Pay-Later (BNPL) service for pre-owned smartphones, as per an emailed press release.

Mobile phone subscriptions in Egypt reached nearly 120 million in 2024, accompanied by more than 10% growth in mobile internet usage compared to the previous year.

Prime Minister Mostafa Madbouly met with a delegation from Samsung Electronics, reaffirming the government’s commitment to localizing advanced technology industries and discussing mechanisms to support the company under the new export subsidy program.

The cabinet has proposed a plan to President Abdel Fattah El-Sisi to boost the industrial sector.

The mobile industry in Egypt is facing a number of challenges, especially with the government announcing its negotiations with Apple to establish a factory in Egypt, Communications and information technology experts revealed. Experts stressed that Egypt has infrastructure and information technology, as well as skilled and trained workers, which could qualify it to draw in international investments in this industry.

Egypt is currently targeting the presence of four global smartphone producers in the local market, Prime Minister Mostafa Madbouly announced during his inspection tour at the 10th of Ramadan factories on May 11th.

Egypt’s imports of mobile phones rose by 48% year on year (YoY) last November to about $1.42 million, compared to about $960,000.

Egypt’s imports of mobile phones declined by 57.7% last October, recording about $235,000, compared to about $556,000 in October 2022.