Digital Transformation was a main topic discussed during Egypt’s Economic Summit held Tuesday.
During a panel entitled, “Digital Transformation: from grassroots movement to regional upheaval”, with the participation of Chairman & Managing Director of E-finance Egypt Ibrahim Sarhan, Vice President Chief Commercial Officer at WE Mohamed Abo-Taleb, Chief Corporate Affairs Officier at Etisalat Misr Khaled Hegazy, Chief Digital Officer at Orange Egypt Maged Gabriel, and External Affairs and Legal Director at Vodafone Egypt Ayman Essam.
“There is a partnership between E-finance Egypt and the government in terms of digital transformation and e-payment,” Chairman & Managing Director of E-finance Egypt said.
He added that 2019 witnessed a progress in terms of the end of traditional payment methods and turning it into 100% electronic.
“Egypt issued a law stipulating any payment exceeds LE500, will be electronic, otherwise there will be an extra fees,” Sarhan stated.
“Revenues of e-payments recorded LE 4 billion after the holy month Ramadan,” Sarhan added.
Vice President Chief Commercial Officier at WE said that Infrastructure witnessed a big progress during last two years.
Building infrastructure is the base of digital transformation, Abo-Taleb added.
“WE pumped LE3billion in infrastructure lately: LE2billion out of which was invested during last two years,” Abo-Taleb pointed.
Abo-Taleb said that building infrastructure faces three challenges; financial, technical and human.
Infrastructure, Internet Speed, and an application are the main pillars of transformation, Abo-Taleb noted.
According to Abo-Taleb, Internet Speed has been doubled since the start of 2019.
He announced that WE launched e-wallet service today.
For Ayman Essam’s part, He said that mobile network is a digital service used by around 90-100% of Egyptians.
“Egyptians are able to transform digitally,” Essam stayed.
“Vodafone Egypt is technological partner with the government in health insurance in Port Said,” Essam said.
He added that Vodafone Egypt is the largest in terms of e-wallet service.
Etisalat Misr launched landline phones, Khaled Hegazy Chief Corporate Affairs Officier at Etisalat Misr said.
“Unlike other companies, Etisalat Misr doesn’t depend on the infrastructure of WE,” Hegazy explained.
Hegazy added that Egypt is able to export outsourcing serving to the world.
Digital transformation requires spreading awareness among users, according to Hegazy.
“Etisalat Misr is a partner with the government in developing new smart cities application,” Hegazy stated.
Moreover, Digital transformation is transforming what is physical into digital, Chief Digital Officer at Orange Egypt Maged Gabriel said.
Gabriel added that customers must get benefit from services through digital application to turn digitally by time.
Egypt Economic summit kicked off Tuesday, Nov. 12, in Cairo, under the auspices of Prime Minister Mostafa Madbouli.
The summit tackled Egypt’s vision post the economic reform program, including panels related to sectors of banking and finance, Information and Communication Technology (ICT),Industry, Investment, and real estate.
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