News

IBM Opens New Doha Office To Support Qatar’s Digital Growth

The move is a significant step for the company as it deepens its presence in a market with huge growth potential.

Published

2 years ago

December 16, 2024

ibm opens new doha office to support qatar's digital growth

IBM has officially opened its new office in Al Mana Tower, situated in Doha’s Corniche area. The inauguration ceremony was attended by key figures, including H.E. Mohammed bin Ali Al Mannai, Qatar’s Minister of Communications and Information Technology, U.S. Ambassador Timmy Davis, and IBM executives Shukri Eid and Wissam Shmait. Local business partners and clients also joined the event, which took place during the Qatar Global AI Summit.

This new office marks a significant step in IBM’s strategy to deepen its presence in Qatar — a market with tremendous potential for growth. With the goals of Qatar National Vision 2030 and the Digital Agenda 2030 shaping the country’s ambitions, IBM aims to contribute to Qatar’s ongoing digital transformation by delivering cutting-edge solutions and advisory services directly from its Doha base.

Speaking about this development, Sami Mohammed Al Shammari, Assistant Undersecretary for Infrastructure and Operations Affairs at Qatar’s Ministry of Communications and Information Technology, emphasized the importance of IBM’s role. “We are pleased to witness the expansion of IBM’s presence in the State of Qatar and its role in supporting our journey towards building an advanced digital future,” he said. He described the move as more than a commercial investment, highlighting its potential to empower key industries and foster stronger collaboration between Qatar’s public and private sectors. He added that this partnership aligns with the country’s vision of building a robust digital infrastructure and advancing a knowledge-based economy.

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IBM’s regional leader, Shukri Eid, echoed these sentiments. “The opening of our new office in Qatar reflects IBM’s commitment to supporting the country’s accelerated digital transformation journey,” he said. He underscored IBM’s focus on driving innovation and equipping clients with advanced technological solutions to help realize Qatar’s digital ambitions.

The new office not only strengthens IBM’s ties with local businesses and government entities but also positions the tech corporation as a key player in the ongoing development of Qatar’s digital ecosystem. By fostering innovation and driving technological adoption, IBM will be ideally poised to play a central role in the country’s broader goals for digital advancement.

News

Egypt’s Mobile Wallets Are Booming, But Cash Still Has Power

Egypt’s telecom regulator says $57.6 billion moved through more than 57 million wallets in six months. And one operator handled 77% of the value.

Published

4 days ago

September 12, 2026

Nour Nasir

egypt's mobile wallets are booming but cash still has power

Egypt’s mobile wallets handled EGP 2.96 trillion ($57.6 billion) in transactions in the first half of 2026, according to the National Telecom Regulatory Authority – a 56% rise on the EGP 1.90 trillion ($36.9 billion) recorded a year earlier. Transactions grew faster still, up 62% to 2.22 billion, while registered wallets climbed 23% to 57.01 million.

On one reading, that is exactly what Egypt’s regulators have been pushing for: a payments system that runs through telecom-linked wallets rather than banknotes. But the same data shows how far cash still reaches into it. Cash withdrawals made up just 12% of the transactions taking money out of wallets, yet 75% of the value withdrawn or spent.

Money arrives mostly from bank accounts: transfers through InstaPay accounted for 78% of deposit transactions and 58% of the value deposited, while incoming remittances from abroad made up 3% of deposit transactions but 10% of their value. Once inside, it largely moves between wallets – wallet-to-wallet transfers accounted for 54% of all transactions and 67% of total value, with mobile and internet top-ups a distant second at 25% of volume. In effect, the wallet is serving as a transfer layer: the place money passes through between the bank account and the banknote.

That layer also runs predominantly through one operator. Vodafone Cash held 53% of registered wallets and 57% of active ones, but handled 69% of transactions and 77% of their value. Its nearest rival, e& money, held 23% of registered wallets but 14% of transaction value; Orange Cash 20% and 8%; WE Pay 4% of wallets. How many of the 57.01 million are active is not stated.

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Adoption is rather uneven in other respects. Men held 38 million wallets, or 67% of the total, against 19 million held by women. Users aged 26 to 45 accounted for half of all wallets, and Cairo alone had 10.6 million, or 19% of the national total, with Giza next at 6.5 million.

The NTRA says it is continuing to work with telecom operators on the regulatory framework for wallet services, part of a wider effort to expand electronic payments and financial inclusion. Its own figures show that effort succeeding on the way in. On the way out, three-quarters of the value still leaves as cash.