Intelligent CIO Africa Issue 74 | Page 10


eFinance signs partnership MoU with F5 to protect and optimise Egypt ’ s Digital Transformation priorities eFinance ’ s customers in Egypt ,” said Atef Mohamed , IT and Cloud Director , eFinance . “ Our mission is to enable organisations across the country to lead cutting-edge , transformative initiatives that are aligned with vital social development goals . F5 is an ideal partner for us in this respect .” eFinance has signed a Memorandum of

Understanding ( MoU ) with F5 , a multicloud application services and security specialist , to help protect and optimise Egypt ’ s Digital Transformation priorities .
eFinance , a partner of choice for Egypt ’ s growing digital economy and financial transformation , as well as in-country public cloud provider , is now set to offer F5 ’ s extensive solutions portfolio to organisations across the country .
Initially , the partnership will focus on cloud and cybersecurity-based technologies .
“ We are delighted to partner with F5 , which is already supporting many of
F5 offers a unique portfolio of automation , security , performance and insight capabilities . It empowers customers to create , secure and operate the applications – whether monolithic or modern – that help reduce operational cost and complexity , protect users ’ experience and create business value .
“ eFinance is integral to the Egyptian government ’ s Digital Transformation strategy , so it is a huge honour to finalise this MoU ,” said Bassem Saleh , Sales Lead for Egypt at F5 .

Gartner forecasts worldwide IT spending to grow 2.4 % in 2023

Worldwide IT spending is projected to total US $ 4.5 trillion in 2023 , an increase of 2.4 % from 2022 , according to the latest forecast by Gartner .

This is down from the previous quarter ’ s forecast of 5.1 % growth . While inflation continues to erode consumer purchasing power and drive device spending down , overall enterprise IT spending is expected to remain strong .
“ Consumers and enterprises are facing very different economic realities ,” said John-David Lovelock , Distinguished VP Analyst at Gartner . “ While inflation is devastating consumer markets , contributing to layoffs at B2C companies , enterprises continue to increase spending on digital business initiatives despite the world economic slowdown .
“ A turbulent economy has changed the context of business decisions and can cause CIOs to become more hesitant , delay decisions or reorder priorities ,” said Lovelock . “ We ’ ve seen this in action with the reshuffling taking place among some B2B companies , especially those that overinvested in growth . However , IT budgets are not driving these shifts and IT spending remains recession-proof .”
The software and IT services segments are projected to grow 9.3 % and 5.5 % in
2023 . The devices segment is forecast to decline 5.1 %.
“ During the height of the pandemic , employees and consumers had technology refreshes of tablets , laptops and mobile phones due to remote work and education ,” said Lovelock . “ Without a compelling reason for an upgrade , device assets are being used longer and the market is suffering .”
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