International Data Corporation (IDC) has announced the launch of an exciting new strategic program with Egypt's Information Technology Industry Development Agency (ITIDA).
“Africa Together” initiative aims to assist Egyptian ICT firms in penetrating high-growth markets across the African continent through joint partnership and market development efforts, further enhancing the role of Egypt's ICT industry as a key contributor to the country's economic growth.
The statistics certainly suggest there will be no shortage of opportunities for them to tap into, according to IDC.
IDC's latest forecasts show IT spending across Africa (excluding South Africa) reaching $26.4 billion by 2018, expanding at a compound annual growth rate (CAGR) of 7.03% — close to double the worldwide figure of 3.81%.
"The considerable demand that exists across the wider African continent for skills and knowledge transfer makes it an extremely appealing prospect for Egyptian ICT companies, as does the ability to introduce innovative, cost-effective, and relevant IT solutions to these markets," says Jyoti Lalchandani, IDC's group vice president and regional managing director for the Middle East, Turkey, and Africa.
"To this end, the 'Africa Together' initiative exploits the natural synergies that exist between IDC's unrivalled market insights and ITIDA's quest to increase the global competitiveness of Egypt's ICT industry. Working together, we will identify the key growth markets and segments across Africa that will provide the greatest opportunities for Egyptian companies," he added.
As part of the “Africa Together” program, IDC will match the capabilities of Egyptian ICT companies with the needs of African channel and end-user companies. This match-making process will culminate in two three-day events to be held in Lagos and Nairobi towards the end of 2014, where IDC will bring Egyptian ICT players face to face with leading end-user organisations and channels from the West and East Africa regions to discuss the potential for future cooperation and partnerships.
“The signed agreements with IDC come in line with ITIDA’s endeavours to boost the exports of local IT firms, help them expand beyond Egypt and tap into the business opportunities in the targeted countries in Africa,” says Hussein El-Gueretly, ITIDA’s CEO.
“Along with 'Africa Together' Initiative, hosting the CIO Forum in Cairo in collaboration with IDC will be a unique opportunity for ITIDA to rebrand Egypt an IT hub in the region and a rewarding experience and an excellent venue for CIOs to exchange information on current topics as well as create opportunities for cooperation with senior decision makers and business leaders from across the region,” he continued.