Egypt ranks among top 3 countries in start-up entrepreneurship in MENA region: Minister Talaat at Cairo ICT

Ahram Online , Sunday 17 Nov 2024

Minister of Communications and Information Technology (MCIT) Amr Talaat said Egypt ranks among the top three countries in start-up entrepreneurship in the Middle East and North Africa (MENA) region, according to a statement by the Egyptian cabinet.

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Digital Egypt Pavilion

 

Talaat made these remarks in a speech he delivered at the 28th edition of the International Technology Fair and Forum for the Middle East and Africa (ICT 2024), held under the auspices of President Abdel-Fattah El-Sisi. The fair runs from 17-20 November at the Egypt International Exhibition Centre in New Cairo.

Prime Minister Mostafa Madbouly officially inaugurated the fair on Sunday. Ministries, companies, and experts participate in the event. According to the event's website, ICT provides a "dynamic platform" for innovations and an opportunity to share knowledge, foster collaborations, and drive technological advancements.

Talaat explained that Egypt has supported entrepreneurs in founding over 600 tech-driven startups and has established 23 Digital Egypt Innovation Hubs in 19 governorates. He added that Egypt plans to establish 32 hubs nationwide.

Furthermore, Talaat noted that digital capacity-building budgets have increased by 2400 percent between 2018 and 2024, and the number of trainees increased in the same period from 4,000 to nearly 400,000, half of whom are women.

Moreover, he highlighted that the ICT sector has exceptionally grown by over 16 percent annually, making it the fastest-growing sector in Egypt for five consecutive years.

According to Talaat, the ICT sector has significantly contributed to GDP in recent years. In 2023, the sector constituted 5.8 percent of GDP, compared to 3.2 percent in 2014. He noted that Egypt leads Africa in fixed internet speed with an average of 76.4 Mbps, and it has advanced 49 places in the AI Government Readiness Index, moving from 111th in 2019 to 62nd in 2023.

Moreover, Talaat indicated that Egypt improved its standing in the Digital Government Readiness Index, climbing from Group C in 2018 to Group A in 2023.

Egypt's outsourcing sector has also grown significantly. According to Talaat, the sector currently employs over 145,000 who serve 175 companies globally at 195 centres.

Egypt's digital advancements
 

Following the inauguration, PM Madbouly toured various exhibition pavilions. He started with the MCIT pavilion, where Talaat outlined Egypt's Digital Transformation Strategy, which focuses on digital services, job creation, entrepreneurship, robust infrastructure, and legislative frameworks to attract investment and foster partnerships.

Furthermore, Talaat showcased key digital transformation projects, including the Digital Egypt Platform, which provides services to over 8 million citizens. He also reviewed the MCIT's contributions to automating universal health insurance, creating company establishment platforms, and implementing remote litigation systems.

In addition, Talaat highlighted projects under the National Artificial Intelligence Strategy, including highly accurate healthcare applications for early detection of glaucoma, diabetic retinopathy, and breast cancer.

He explained that the ministry offers programs for different age groups. These include Digital Egypt Buds and Youngsters for school students and initiatives such as Digital Egypt Builders and Pioneers for graduates.

Talaat added that the ministry also provides specialized training for freelancers and professionals and supports individuals with special needs.

 

Prime Minister Madbouly during the inauguration of the Cairo ICT 2024 exhibition

Cairo ICT 2024

Cairo ICT 2024 is held under the theme "The Next Wave."

The event will highlight advancements in 5G, AI-driven solutions, blockchain innovations, and satellite communications.

Talaat explained that Cairo ICT 2024 includes two main halls. The first highlights government-led initiatives, including the Egyptian Post pavilion, which showcases financial inclusion efforts through over 4,600 mostly upgraded post offices.

Other key pavilions include the "New Beginning for Building the Egyptian Citizen," the Financial Regulatory Authority, and the Central Bank of Egypt, all of which present technological innovations in education, health, employment, digital insurance, and mobile payment systems.

The second hall, Talaat continued, showcases private sector contributions and the National Telecommunications Regulatory Authority's advancements in 5G services, supported by a $675 million licensing investment.

In addition, the hall exhibits innovations in mobile services, cloud computing, and data centre technologies.

 


ICT pavilion gathering

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