UAE’s Mawarid Technology pledges to pump $ 100m investments in Egypt

UAE-based Mawarid Technology plans to pump $100 million in the Egyptian market in the coming period, said Mohamed Al Nueimi, its Chairperson.

During his visit to Cairo ICT 2016, Al Nueimi expressed his company’s willingness to fully support Egyptian government to realise the ‘smart government’ concept.

He also added that Mawarid Technology upholds Egypt as a regional gate though which it can access more Arab and African markets.

During the exhibition, Mawarid Technology showcased a bunch of latest tech solutions in areas of defense, security, information technology, e-payment, financial inclusion and smart government applications.

Mawarid was established in early 2016 with joint investments pumped by the three major companies:  Falcon Eyes, TacME, and Quicknet, which have long history in implementing huge technology projects across the Middle East

For his part, Habib Halabi, General Manager of Mawarid Technology Group asserted that the company owns sufficient expertise to establish technological infrastructure for major projects, pointing out that the coming period will witness major expansions in the Egyptian market creating a great number of job vacancies for Egyptian youth.

He added, “We aim at establishing local partnerships in addition to acquiring some entities specialized in security solutions in Egypt in order to establish a major entity for the company in Egypt. Through this entity we can support and boost digital transformation in the Egyptian market, which is one of the most growing markets in the Arab and African regions.”

Mawarid is present in the Emirati market through 3 branches located in Dubai and Abu Dhabi and it works on implementing a number of major governmental projects in the UAE.