Cairo, Egypt, August 17, 2014—IFC,
a member of the World Bank Group, today signed an agreement to help enhance
the skills of prospective information and communication technology (ICT)
workers in Egypt, develop sector specific education and training, and improve
the employability of ICT graduates.
IFC will help the Information Technology Industry Development Agency (ITIDA)
set up a foundation for talent development, in line with the needs of the
market. This includes developing a National Qualifications/Skills Competence
Framework that will demonstrate the skills and competences required by
the sector as well as providing advisory support on existing sector specific
education and training. IFC will also help ITIDA set up new educational
initiatives to meet the needs of the ever evolving ICT sector, and encourage
dialogue between the government and private ICT companies.
“Sourcing talent has become a major challenge to companies as graduates
do not possess the necessary technical skills to join the industry,” said
Hussein El-Gueretly, ITIDA’s Chief Executive Officer. “Our partnership
with IFC will help us improve ICT education and narrow the skills gap.”
ICT is one of the most dynamic and fastest growing sectors in Egypt. It
has an annual growth rate expected to reach 14 percent in 2016 and contributes
about 4.4 percent to the country’s gross domestic product. The need for
a skilled workforce across the sector is expected to grow as the market
grows and foreign direct investment increases.
“Skills development is vital for reducing youth unemployment in Egypt,”
said Mouayed Makhlouf, IFC Director for the Middle East and North Africa.
“Providing a qualified labor force will support the ICT sector’s growth,
enhance competitiveness, and increase its contribution to the economy.”
The agreement is part of IFC’s E4E Initiative for Arab Youth. Active since
2012 in Egypt, Jordan, Tunisia and Morocco, the program focuses on partnering
with the private and public sector to help bridge the skills gap and equip
young people with the abilities that employers require.
The project is supported by IFC development partners UKaid, State Secretariat
for Economic Affairs SECO, and the Netherlands.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. Working with private
enterprises in about 100 countries, we use our capital, expertise, and
influence to help eliminate extreme poverty and boost shared prosperity.
In FY14, we provided more than $22 billion in financing to improve lives
in developing countries and tackle the most urgent challenges of development.
For more information, visit www.ifc.org
The Information Technology Industry Development Agency (ITIDA) is a governmental
entity affiliated to Egypt’s Ministry of Communications and Information
Technology. It is responsible for growing and developing Egypt’s position
as a leading global outsourcing location by attracting foreign direct investment
to the industry and maximizing the exports of IT services and applications.
Located in the heart of the modern business environment at Smart Village,
the six hundred acre business park on the outskirts of Cairo, ITIDA is
a self-sustainable entity that drives the IT industry in Egypt and raises
awareness among the Egyptian people of the benefits and use of ICT to advance
socio-economic welfare of the whole community. For more information, please