ITIDA, Foundever sign MoU to create 5k jobs in Egypt

By Aya Anwar On Dec 8, 2024

Egypt's Information Technology Industry Development Agency (ITIDA) and Foundever, a global leader in customer service and outsourcing, has signed a Memorandum of Understanding (MoU) to expand its operations in Egypt - Cabinet

Egypt’s Information Technology Industry Development Agency (ITIDA) and Foundever, a global leader in customer service and outsourcing, have signed a Memorandum of Understanding (MoU) to expand the company’s operations in Egypt. The agreement entails a €65 million investment and the creation of 5,000 jobs over the next four years.

Foundever’s expansion plans include enhancing its existing centers in Nasr City and Maadi Technology Park and establishing a new centre in Luxor Governorate, underscoring its long-term commitment to positioning Egypt as a key hub for outsourcing and customer support services.

Amr Talaat, Minister of Communications and Information Technology, hailed the agreement as a testament to Egypt’s rising stature in the global outsourcing industry. He highlighted the company’s confidence in Egyptian talent and its plans to invest beyond Cairo.

Foundever Egypt recorded a 115 per cent growth in 2023. The new Luxor centre, set to open by mid-2025, forms part of its broader strategy to capitalise on local expertise and cater to global market needs.

Attribution: Egyptian Cabinet

Subediting: M. S. Salama