Image © m.elyoussoufi | iStock Usama Elsayed, COO and Managing Director for MEA region, BPC , charts how digital transformation in Egypt is boosting economic progress and financial inclusion With a population of more than 100 million , Egypt is confronting significant demographic challenges in its labour market. The country strives to advance its economic development by implementing the National Sustainable Development Strategy (Egypt Vision 2030), aligning with the UN Sustainable Development Strategy (2030 Agenda), and adhering to the 2063 Agenda. Despite these efforts, Egypt continues to face challenges with escalating unemployment rates and a growing influx of new entrants into the labour market. However, digital transformation may offer a potential lifeline. Demographic pressures in Egypt Unemployment in Egypt has consistently shown a structural tie to demographics, predominantly affecting young, educated individuals entering the labour market for the first time. In other words, Egypt’s burgeoning youth population is one of the main drivers of labour market pressures. More than 60% of Egyptians are under 30 , creating a massive need for job creation. The traditional industries have been unable to absorb the high number of new entrants, leading to urban unemployment rates hovering around 7-10% . This situation is […]
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