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Eng. Raafat Hendi, Minister of Communications and Information Technology, witnessed the signing of a Memorandum of Understanding (MoU) between Telecom Egypt (WE) and e-finance for Financial and Digital Investments. The MoU aims to explore cooperation opportunities and develop integrated technological and financial solutions tailored to the needs of both the public and private sectors.

The signing took place on the sidelines of the 30th edition of the Cairo International Technology Exhibition and Conference (Cairo ICT 2026). The agreement was signed by Eng. Tamer El-Mahdi, Managing Director and CEO of Telecom Egypt, and Mr. Ibrahim Sarhan, Chairman and Managing Director of e-finance Group.

Pillars and Key Areas of Joint Cooperation

The new partnership builds on combining the capabilities of both leading companies. Telecom Egypt will leverage its advanced infrastructure, secured data center services, cloud computing integrated with artificial intelligence, and cybersecurity solutions.

In return, e-finance brings its extensive expertise in software development and operations, managing and operating the government financial network, digital identity verification, data management, and secure electronic payment and collection platforms. This synergy ensures the delivery of a comprehensive, highly secure suite of digital services designed to modernize organizational operations and enhance public services.

Telecom Egypt: Expanding AI Applications for Enterprises

Eng. Tamer El-Mahdi emphasized that this MoU serves as a launchpad to integrate Telecom Egypt’s cloud computing and enterprise solution capabilities with e-finance’s expertise in financial and digital system operations. He noted that the primary goal is to innovate joint solutions that help organizations modernize their operations and expand the utilization of AI applications across various sectors.

e-finance: Firm Steps Toward Egypt Vision 2030

Mr. Ibrahim Sarhan highlighted that this partnership represents a pivotal step toward building an integrated national digital ecosystem, combining robust infrastructure with digital financial expertise. He added that integrating their capabilities will accelerate digital transformation for government entities, deliver more efficient and secure services to citizens, support the objectives of Egypt Vision 2030, and reinforce Egypt's position as a regional technology hub.