Egypt signs $50 mln deals to digitise 60 public enterprises

Seven holding companies under the Egyptian Ministry of Public Business Sector have signed on Thursday 21 digital transformation contracts with five IT and IT systems integration companies.

Under these contracts, the companies along with their 60 subsidiaries – operating in insurance, marine, and land transport, mineral, chemical, cotton, textile, pharmaceuticals, and tourism industries – will go through digital restructuring process at cost of $50 million.

The IT companies and IT systems integrators – who signed the contracts are SAP and Microsoft while the IT systems integrators are Fiber Misr, Atos and Wadi El Nile.

The seven companies are the Metallurgical Industries CO., Chemical Industries Holding Company (CIHC), Cotton & Textile Industries Holding Co., Holding Co. for Maritime & Land Transport, HoldiPharma, Holding Co. For Tourism, Hotels and Cinema, and Misr Insurance Holding Company.

The digital transformation project aims to improve, automate, and lift the efficiency of these companies, Mohamed Masoud, digital transformation officer at the Ministry of Public Business Sector, told Amwal Al Ghad.

This project is the largest digital transformation project in Egypt and the Middle East, Masoud said.