$3 million is the volume of our exports to the Libyan market and we plan to double our technology exports and be present in the Saudi market
Prepared for publication: Mustafa Ibrahim
Engineer Mohamed El-Mofty, Chairman of the Board of Directors of "ICT Misr", specialized in technological solutions and digital infrastructure, confirmed in response to a question from " Alam Rakamy " that the majority of business institutions, governmental and private, rely heavily on cloud computing in its various types "private - public - hybrid", but according to the Egyptian laws regulating and the relevant authorities, 4 sectors are not allowed to keep their data outside the geographical borders, which are the government, banking, defense and oil sectors, due to the sensitivity of the data of these sectors and the danger of the information that can be obtained from analyzing this data, if it is hacked, so the state seeks to provide local data center services, which ensures the provision of services at the level of A world of efficiency and quality, but with a guarantee of keeping the national data of the Egyptian state within the borders.
He said in response to a question from " Alam Rakamy " that although there is no 100% information security, we work in cooperation with our global partners to provide diverse and integrated packages of cyber security solutions that can raise the level of difficulty or impossibility of the success of any attempt to hack the electronic institutions we deal with, as well as taking immediate measures to warn and contain any attempt by hackers and intruders to ensure that the losses of institutions do not increase even if they are hacked, not to mention keeping copies of the data to allow the continued operation of institutions' services even if they are hacked.
He added that in light of the acceleration of the digital transformation process in government and private entities and institutions, it is natural for electronic threats to increase, and here comes our role as a provider of infrastructure security solutions that has the technical and human capabilities in cooperation with our global partners specialized in developing the best cybersecurity solutions, as "ICT Misr" continues its pioneering cooperation with Dell, Oracle and Veritas, and in the field of cybersecurity, it continues its cooperation with Netwitness, Proofpoint and Fidelis.
The size of the company's information security sector represents 25% of the company's business volume, and it has partnerships with many companies, including NetWitness, Proofpoint and others, where cooperation with 25 different companies, all of which work on different aspects of securing information and cybersecurity, while the other part of the company's activity is represented in "data analysis" of customers of companies and government and private institutions, including customer communication data and products and services provided by these companies, in cooperation with many global companies, such as Cloudera and Informatica, and other major global companies.
Regarding the company’s vision to meet the needs of the banking sector in light of the significant growth in technological demand and financial inclusion for this sector, Al-Mufti said that “ICT Misr” is expanding by establishing a comprehensive sector for financial programs and applications for banks and Core Banking after 7 years of success in digital infrastructure services, cybersecurity, devices and programs, “Software & Hardware”.
“ICT Misr” also intends to attract new global partners to provide their services for the first time in the local market thanks to the significant development witnessed by the banking sector led by the Central Bank of Egypt and the state’s goals to support comprehensive digital transformation.
He added that the banking sector accounts for 80% of the company's business volume, which confirms the banking sector's confidence and pushes "ICT Misr" towards providing more digital services to banks and major financial institutions end to end, with the support of developing laws and regulations by all relevant regulatory bodies, most notably the Central Bank of Egypt, the Ministry of Communications, the Financial Regulatory Authority and all regulatory and supervisory bodies that push towards more digital transformation, explaining that the banks' confidence in "ICT Misr" services confirms expectations of seizing a distinct market share of banking software and applications services in light of the decline in the number of companies providing these services, explaining that software and digital transformation in Egypt will not stop growing and the banking sector is committed to accelerating its various operations for digital transformation to achieve the goals of financial inclusion and the transition to a cashless economy.
In response to a question from " Alam Rakamy " about the company's business volume during 2024, the Chairman of the Board of Directors of "ICT Misr" said that the company's revenues amounted to about $30 million in 2023, which means achieving a growth rate of 500% in 2023 compared to 2022, while it reached $30 million in the first half of 2024, and it is expected that our business volume will reach about $60 million.
In response to a question from “Alam Rakamy” about the company’s interest in training and qualifying human cadres, Al-Mufti said that the total number of employees at “ICT Misr” has exceeded 100 employees and is expected to reach 150 employees by the end of this year, explaining that “ICT Misr” is one of the fastest growing companies in the fields of technology, infrastructure and information security in Egypt and the Middle East, and has been able to provide a different vision for the Egyptian and Libyan markets and is preparing to expand in the Gulf and African markets after its success in providing a new aspect of added value to the government, banking, commercial, communications, commercial, financial and insurance sectors.
In response to a question from "Alam Rakamy " about the company's goals for its second participation in CairoICT24, ICT Misr will be the infrastructure sponsor of Cairo ICT 2024, and the pavilion will include ICT Misr and IoT Misr, and AVEVA solutions will be showcased during the exhibition. The banking applications sector will also be announced and the selection of the sector's head, who is one of the most prominent leaders in the information technology sector in the banking sector, will be announced. He added that ICT Misr's financial applications sector will be launched during its participation in CairoICT24 in November, as the work team has been completed, explaining that the new sector aims to provide more services to the banking sector and financial technology sectors, in addition to financial application services and applications of telecom operators.
