Africa and Middle East Depositories Association looks to Egypt as HQ for MEA-centered data center

Cairo – May 28, 2024: The Africa and Middle East Depositories Association (AMEDA) aims to establish a comprehensive data center catering to all member nations across Africa and the Middle East, with Egypt designated as its primary headquarters according to Abdullah Abdin, President of AMEDA.

Highlighting Egypt's pivotal role as a central hub for AMEDA, Abdin emphasized the acquisition of essential licenses from the Egyptian Ministry of Foreign Affairs as a crucial milestone.

This strategic decision reinforces AMEDA's ongoing efforts, fostering seamless operations throughout diverse markets by fostering the exchange of information and expertise among member states.

Formed during the CSD8 International Conference in April 2005, AMEDA stands as a non-profit entity comprising central depository firms from regions spanning Africa and the Middle East.

Its overarching objective is to cultivate collaboration and unity among its constituents, striving towards collective goals. Presently, AMEDA boasts a membership of 40 entities representing over 30 countries.

Egypt inaugurated its first government data and cloud computing center in April, serving as a centralized repository for ministry data. Previously, much of Egypt's data resided overseas, however, the government has made a concerted effort to localize data in recent times.

Abdin clarified Egypt's advantageous position, citing substantial infrastructure enhancements, robust logistical frameworks, and strides in technology and administration, all contributing to the sophisticated and sustainable management of member data.