EGYPT – PepsiCo Egypt, has signed a cooperation agreement with the Information Technology Industry Development Agency (ITIDA) to expand its regional shared service operations in the food company’s Cairo Business Services (CBS) Hub.

ITIDA CEO Amr Mahfouz and PepsiCo Egypt Chairman and CEO Mohamed Shelbaya signed the agreement in the presence of Minister of Communications and Information Technology (MCIT) Amr Talaat.

The three-year agreement aims at increasing the Egyptian exports of IT products and services, including the BPO and shared services, through collaborating with PepsiCo Egypt to expand its services’ delivery to different markets from the Cairo Hub.

The agreement will help provide the company with trained manpower and create at least 200 new job opportunities for young Egyptians, thus strengthening the country’s global position on the BPO and shared services industry map.

It also reflects on Egypt’s remarkable position as an attractive destination for providing this type of services, as well as its regional leadership in the Middle East and Africa in that major industry.

Shelbaya stated that PepsiCo Egypt is pleased to collaborate with MCIT. He commended ITIDA efforts in boosting the shared services sector and qualifying young people for professional work, thus helping attract international companies to Egypt.

He added that the partnership is within PepsiCo’s vision to support young people, enhance expertise and create more job opportunities to attain sustainable development in line with Egypt Vision 2030.

PepsiCo Egypt has been providing shared services since 2019, making Cairo Hub the main center for delivering those services in the Middle East, Africa, and Pakistan.

The company targets doubling the number of employees over the next three years and hiring a highly qualified Egyptian workforce specialized in sales, marketing, HR, and supply chain.

It is worth noting that the shared services centers—as part of an organization or as an external provider—help integrate and merge the business processes and services used by multiple departments in a single organization and execute them according to mutually agreed standards and criteria in a way that helps reduce costs and maintain high quality.

The move is part of PepsiCo’s planned investment in latest technologies, sustainable development and community development projects, which it had earmarked to inject a total of US$515 million into the Egyptian market from 2018 to 2021.

As part of its investment, the company plans to expand the production lines of two of its subsidiaries, Pepsi Cola Egypt and Chipsy for the food industries.

Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE