{"id":581989,"date":"2023-02-28T00:00:00","date_gmt":"2023-02-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/28\/uae-fintech-tabby-embarks-on-egypt-recruitment-drive-as-it-rethinks-local-operations\/"},"modified":"2023-02-28T00:00:00","modified_gmt":"2023-02-28T00:00:00","slug":"uae-fintech-tabby-embarks-on-egypt-recruitment-drive-as-it-rethinks-local-operations","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/28\/uae-fintech-tabby-embarks-on-egypt-recruitment-drive-as-it-rethinks-local-operations\/","title":{"rendered":"UAE fintech Tabby embarks on Egypt recruitment drive as it rethinks local operations"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">T<\/span><span style=\"font-weight:700\">abby to triple its local workforce as it turns Egyptian operations into regional <\/span><span style=\"font-weight:700\">support hub<\/span><span style=\"font-weight:700\">:<\/span><span> Emirati buy now, pay later firm <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tabby.ai\/en-EG\/business\" style=\"\">Tabby<\/a><\/span><span> will double down on recruitment in Egypt despite <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/23\/tabby-puts-egypt-business-on-ice-on-economy-woes-big-bosta-news-97680\/\" style=\"\">announcing last week<\/a><\/span><span> that it will suspend its local operations due to economic headwinds. The company <\/span><span>plans to at least triple its Egypt-based workforce within the next 12 months as it seeks to create a support hub here for its core markets, General Mana<\/span><span>ger Ahmed Khalil told Enterprise<\/span><span style=\"font-weight:400;\"> yesterday. The company currently employs more than 30 people in Egypt and will expand this to at least 100 to support operations in its key markets \u2014 the UAE, Saudi Arabia, Bahrain, and Kuwait \u2014 Khalil said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">When life gives you lemons:<\/span><span style=\"\"> Tabby last week said it would <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/23\/tabby-puts-egypt-business-on-ice-on-economy-woes-big-bosta-news-97680\/\" style=\"\">pause its services in Egypt<\/a><\/span><span style=\"\"> <\/span><span style=\"\">a mere <\/span><span>six months after <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/23\/tabby-puts-egypt-business-on-ice-on-economy-woes-big-bosta-news-97680\/\" style=\"\">entering the country<\/a><\/span><span> due to \u201crecent macroeconomic developme<\/span><span>nts.\u201d The fallout from the war in Ukraine and rising interest rates have tipped the Egyptian economy into crisis over the past year, causing the EGP to lose almost half its value against the greenback and sending inflation to its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/12\/food-prices-hit-record-high-on-january-devaluation-96498\/\" style=\"\">highest level in five years<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">A new office is in the works: <\/span><span style=\"font-weight:400;\">Tabby plans to relocate its Egypt team from its current office in Downtown Cairo\u2019s Greek Campus to bigger headquarters within the next couple of months in order to accommodate the new employees, Khalil told us, adding that the firm is still looking for a suitable location.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">And bigger plans are ahead: <\/span><span style=\"font-weight:400;\">The firm is also looking to expand its operations to other GCC economies soon, Khalil said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Tabby sees Egypt as an attractive place to grow its workforce despite its retreat from the market<\/span><span>.<\/span><span style=\"font-weight:700\"> <\/span><span>\u201cEgypt is a good place to hire. We\u2019re happy with the caliber we\u2019re getting,\u201d Khalil said. \u201cWe have great talent, language skills, and good education, and it makes economic sense compared to hiring in Saudi Arabia or the UAE, for example,\u201d he tol<\/span><span>d us.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">A number of global companies are outsourcing more of their ops to Egypt: <\/span><span style=\"\">Tabby is <\/span><span>joining the ranks of dozens of companies that have recently outsourced operations to Egypt. In December, 29 global firms \u2014 including IBM, Amazon, Microsoft, Majid Al Futtaim \u2014  inked <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/01\/dozens-of-multinational-firms-agree-to-invest-in-our-outsourcing-industry-89823\/\" style=\"\">agreements<\/a><\/span><span> <\/span><span>with the Communications Ministry to increase investments in Egypt and outsource more of their operations.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company plans to at least triple its Egypt-based workforce within the next 12 months<\/p>\n","protected":false},"author":1,"featured_media":581990,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[72,183,2053,95,639],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-581989","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam","tag-fintech","tag-outsourcing","tag-startup-watch","tag-technology","wpautop","entry"],"acf":{"mongo_id":"42a81b2c-77a4-47e3-96ab-a5ac410cd2d3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/2\/tabby-1600px.jpg","photo_position":"below","homepage_title":"Tabby plans Egypt hiring drive as it rethinks local ops","full_issue_title":"","related_issue":[581978],"teaser":"The company plans to at least triple its Egypt-based workforce within the next 12 months"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>UAE fintech Tabby embarks on Egypt recruitment drive as it rethinks local operations - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/28\/uae-fintech-tabby-embarks-on-egypt-recruitment-drive-as-it-rethinks-local-operations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UAE fintech Tabby embarks on Egypt recruitment drive as it rethinks local 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MENA region","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/331.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":581766,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/tabby-puts-egypt-business-on-ice-on-economy-woes-big-bosta-news\/","url_meta":{"origin":581989,"position":1},"title":"Tabby puts Egypt business on ice on economy woes + Big Bosta news","author":"enterpriseam admin","date":"23 February 2023","format":false,"excerpt":"Egypt team will continue to support operations in other core markets","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup 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The fund, which will focus on early-stage startups across Africa, plans to reach second close before the end of the year and then a third close\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/166.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555643,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/22\/venturesouq-launches-usd-50-mn-mena-fintech-fund\/","url_meta":{"origin":581989,"position":3},"title":"VentureSouq launches USD 50 mn MENA fintech fund","author":"enterpriseam admin","date":"22 November 2021","format":false,"excerpt":"Dubai-headquartered Venture capital firm VentureSouq has formally launched a USD 50 mn fintech fund that has already made several investments in Egyptian startups this year, it said in a statement (pdf). The MENA Fintech Fund I has deployed capital in Egyptian digital trucking platform Trella, which this year closed a\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/546.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566262,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/07\/hey-there-opontia-wink-wink\/","url_meta":{"origin":581989,"position":4},"title":"Hey there, Opontia (wink, wink)","author":"enterpriseam admin","date":"7 June 2021","format":false,"excerpt":"Egypt could receive some of the USD 20 mn Riyadh-based consumer holding startup Opontia has earmarked for regional acquisitions. The company plans to open up offices in Egypt, Nigeria and Turkey in the coming months after raising USD 20 mn in a seed funding round that will finance future acquisitions\u2026","rel":"","context":"In &quot;SPEED ROUND: INVESTMENT WATCH&quot;","block_context":{"text":"SPEED ROUND: INVESTMENT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/440.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549697,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/27\/b2b-e-commerce-marketplace-mazaya-to-launch-in-nigeria-following-usd-5-mn-pre-seed-round\/","url_meta":{"origin":581989,"position":5},"title":"B2B e-commerce marketplace Mazaya to launch in Nigeria following USD 5 mn pre-seed round","author":"enterpriseam admin","date":"27 September 2022","format":false,"excerpt":"B2B e-commerce marketplace Mazaya (not to be confused with the perfume and makeup store) closed a USD 5 mn pre-seed round led by Raya Trade and Distribution, it said in a statement (pdf) yesterday.About Mazaya: Founded in December 2021 by Amir Aboul Fotouh (LinkedIn), who was previously commercial planning senior\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/393.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/581989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=581989"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/581989\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/581978"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/581990"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=581989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=581989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=581989"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=581989"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=581989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}