OUTSOURCING-

Gov’t greenlights seven firms to launch new call centers: The National Telecom Regulatory Authority (NTRA) has issued licenses for seven firms to establish and operate call centers using voice over internet protocol — known in the industry as VoIP — and other tools, according to a CIT Ministry statement. The companies include Vodafone International Services, Raya CX, Telecom Egypt’s Xceed, Concentrix, Capgemini Egypt, Genpact Egypt, and TTEC. The move comes as part of a larger effort to make Egypt into a global outsourcing hub, the statement reads.

Remember: The government wants to see digital outsourcing services bring USD 9 bn into the economy annually as of 2026. Egypt’s digital exports brought in USD 6.2 bn in 2023, up 26.5% y-o-y from 2022. The figure includes outsourcing exports — think call centers and human resource centers — which accounted for over half of the digital exports in 2023, standing at USD 3.7 bn, up 54% y-o-y.

LOGISTICS-

Ocean Express to ink final contract for Borg El Arab dry port next month: Egyptian company Ocean Express Shipping is expected to sign a final contract to develop the dry port and adjacent logistics zone in December, Al Borsa reports, citing unnamed sources. The company is currently studying how to finance the project with the Transport Ministry and are considering a number of different means of financing the project, having already entered negotiations with local banks in recent months.

Remember: Ocean Express Shipping signed an MoU with the General Authority for Land and Dry Ports for the project back in August of 2023. The project is set to take place over two phases; The first phase — previously estimated to be valued at EGP 780 mn — is set to be completed in one year, with the second phase set to take another year to complete. Al Borsa’s sources put the total project value at EGP 1 bn.

HEALTHCARE-

#1- Egypt and the UK to establish an oncology center in Egypt: The Egypt Healthcare Authority and the UK’s National Health Service will establish an oncology center at Ismailia Medical Complex in collaboration with one of Europe's leading cancer centers, The Christie, according to a statement from the authority. Medical staff at the Ismailia facility will be trained by 14 British experts in advanced diagnostic and treatment techniques and Egyptian doctors will receive training at NHS institutions in the UK. The center will expand to Upper Egypt at a later stage.

#2- Pharma giant GlaxoSmithKline could set up the region’s first multiomics research center in Egypt, according to a Health Ministry statement that detailed a meeting between Health Minister Khaled Abdel Ghaffar and a delegation from the company. The center would utilize advanced techniques to improve cancer treatment outcomes.

STARTUPS-

MSMEDA contributes USD 2.5 mn in Tanmiya’s TCV II Fund: The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) is contributing USD 2.5 mn to the Tanmiya Capital Ventures’ TCV II Fund to support SMEs by providing innovative financing methods for companies operating in various sectors, with an eye on the industrial and productive sector, according to an agency statement.

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