Egypt Investor Testimonials
Cisco Systems International
Cisco has been present in Egypt since 1999, and presently has over 80 employees, and over 250 business partners in the country. In December 2016, Cisco announced a $10 million investment plan in Algebra Ventures to seed a sustainable model of job-creation and economic development in Egypt. This investment is targeted at small businesses that provide innovative products, services and solutions. Cisco believes that job creation and an environment that creates opportunities for Egyptian citizens are the key ingredients to sustainable economic development. Through its Networking Academy CSR Program, 81,000 students graduated from its different programs preparing them for the job market and giving them the basic IT skills as well as advanced networking skills.
Ayman El Gohary, Managing Director
Commercial International Bank-CIB
CIB as a private sector bank was a joint venture 40 years ago between Chase Manhattan and the National Bank of Egypt. CIB is currently the largest private sector company in Egypt and the largest in the Stock Exchange, with a $5 billion market cap and 6 thousand employees. The bank has a great role to play, being the third in terms of total balance sheet and capital, and the first in terms of the private sector."
Hisham Ezz Al-Arab, Chairman and Managing Director
Procter & Gamble
P&G has been doing business in Egypt for over 30 years. We see the potential that a 90 million consumer market presents and we partner with Egypt to develop the market even further. In addition, we believe in Egypt as a hub for P&G in the region; where we export 40% of our production and we are ranked as the largest exporter in the non-oil chemicals sector. We have invested hundreds of millions of dollars in Egypt to date. Since 2011, we have established a new diapers manufacturing plant and a planning service center for the MEA region and we plan to double our investment rate over the coming two years. Consumers are at the heart of everything we do and we continue to offer leading brands that touch and improve the lives of our consumers everywhere we operate. P&G is committed to its citizenship efforts; Women represent 50% of our employees at our head office. Both of our plants in Egypt have zero manufacturing waste to landfill, and We lately called out our commitment to bringing clean water to hundreds of thousands of Egyptians in rural Egypt, part of our clean water campaign.
Karim Kamel, Vice President, Procter & Gamble Egypt and Near East region