cloudBuy launches initiative with Visa and e-finance to develop e-commerce in Egypt

Jul 25, 2016

Launch event in Cairo attended by UK Trade Envoy, Sir Jeffrey Donaldson MP and Yasser ElKady, Egyptian Minister of Communications and Information Technology

July 25th, 2016: cloudBuy, the global provider of B2B cloud-based e-commerce solutions, has launched an initiative with e-finance and Visa to help the Egyptian government increase e-commerce in the country, to drive trade and support the creation of new businesses. The launch event in Cairo was attended by Yasser ElKady, Egyptian Minister of Communications and Information Technology, and the British Prime Minister’s trade envoy to Egypt, Sir Jeffrey Donaldson MP, as part of his week-long visit to Egypt to promote new trade and education initiatives.

The initiative supports Egypt’s strategy to grow its small businesses, offer new employment opportunities, increase exports and develop the knowledge economy in Egypt.

Ronald Duncan, cloudBuy Chairman said, “cloudBuy was brought into this important economic initiative in Egypt by its partner, Visa, because of our unique range of solutions for e-commerce and new businesses. cloudBuy’s company formation arm has helped create over 300,000 businesses. We also have the technology to create e-commerce websites for organisations of all sizes and the ability to bring them together to increase trade via cloudBuy e-marketplaces. Putting these solutions together offers a compelling package which will assist the government of Egypt to reinvigorate its economy through the application of the latest business technologies.”

“It is especially pleasing to be launching this initiative during Sir Jeffrey Donaldson’s visit to Egypt. Sir Jeffrey is MP for Lagan Valley in Northern Ireland. cloudBuy provides the technology which powers the province’s respected InvestNI website which attracts investment and new business for Northern Ireland. This will provide a useful source of ideas and experiences which cloudBuy will take to this new project in Egypt.”

The launch event took place at Smart Village Egypt in Cairo’s western suburb, which is Egypt’s first Communication and Information Technology Cluster (CIT) and Business Park. Speeches were given by Ibrahim Sarhan, e-finance Chairman; Tarek Mahfouz, General Manager of Visa Egypt; and cloudBuy’s Ronald Duncan. Ahmed El Wakil, President of the Federation of Egyptian Chambers of Commerce and the Union of African Chambers of Commerce also spoke, recognising the fact that the Chambers’ 4 million+ members will be beneficiaries from this important initiative.

To download a PDF version of this press release, please click here.

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