Egypt’s IT industry 7th most attractive in region - report

Egypt came in 7th in a Fitch Solutions report ranking regional IT market attractiveness amid government efforts to push for digitization,according to the National. The report noted the increasing importance of IT for the Egyptian government, which is investing in digitizing its services and developing tech-focused investment zones. “However, retail PC demand (in Egypt) will remain muted owing to uptake of smartphones and cannibalisation of use cases,” Fitch Solutions said. According to the report, which surveyed 12 markets, rising oil prices and economic diversification efforts were behind the IT industry’s growth, which could attract up to USD 2.7 bn across the region in 2022. The UAE came in first place, while Kenya came in last.