The first of its kind for MAF Holding, the company aims to provide shared services operations including accounting, HR, procurement, and IT Services
Intending to launch its first ever shared services center in Egypt, Majid Al-Futtaim (MAF) Global Solutions has signed a cooperation agreement with Egypt’s Information Technology Industry Development Agency (ITIDA).
The first of its kind for MAF Holding, which is famously known for their popular shopping malls across MEA and Central Asia, the company aims to provide shared services operations including accounting, HR, procurement, and IT Services operating in but not limited to the Middle East, Africa, and Asia from its center in Egypt.
“We’re excited to cooperate with ITIDA through our shared services centre to serve the markets where MAF operates in different countries, leveraging Egypt's competitive advantages, most notably its diversified and abundant talent pool,” said Khaled El-Chidiac the CEO of MAF Global Solutions.
El-Chidiac highlighted that MAF partnerws with ITIDA due to its commitment to investing in local talent, training young people, enhancing experiences, and creating direct and indirect job opportunities for Egyptian youth.
The cooperation agreement states that MAF will employ a minimum of 600 new Egyptian employees over the course of the agreement, directed primarily to export activities.
MAF Holding’s decision to invest in Egypt reflects Egypt’s increased global appeal for investors especially in the outsourcing domain with more enterprises and global tech companies willing to relocate expand global business services in Egypt said ITIDA CEO Amr Mahfouz.
Mahfouz added that this boosts Egypt’s position as one of the fastest-growing offshore destinations in the world.
Minister of Communications and Information Technology Amr Talaat, who witnessed the signing, pointed out that business process outsourcing (BPO) is one of Egypt’s significant and labor-intensive industries, which also enjoys Egypt’s advantages due to its regional leadership and significant position on the global offshoring industry map.
Talaat added that Egypt remains one of the most favorable destinations for multinationals willing to establish service centers for global operations.
The minister also added that his ministry is eager to empowering the growth of the BPO industry and the increase of digital exports through finding solutions to obstacles that investors are facing, as well as increasing young Egyptians’ education and experience in the field.
Within the next few months, MAF will work to attract young people of the highest calibre to join its team to embark on the transformation journey that will lay the foundation for the sustainable growth of MAF businesses, according to El-Chidiac.
