Announcement of Eighth Annual Class of Scholars Underscores Qalaa Holdings’ Commitment to Investing in the Future of Egypt

Seventeen top Egyptian students to pursue graduate educations at elite universities abroad with scholarships from Citadel Capital Scholarship Foundation; awards are conditional on recipients returning to Egypt to work post-graduation

The Citadel Capital Scholarship Foundation (CCSF)[1] announced today the names of its eighth annual class of scholars. The seventeen members of the 2014-15 class of Citadel Capital Scholars will pursue master’s-level studies at top international universities and institutes in Europe and the United States. As a condition of acceptance, the recipients of a CCSF scholarship pledge to return to Egypt to work in their chosen field following the completion of their studies.

The CCSF is one of the largest private-sector-funded scholarship programs in Egypt; awards are open to scholars pursuing masters and doctoral degrees in all disciplines.

“The task of building a fair, vibrant and prosperous Egypt is a generational task, and one that is particularly relevant at this point in our nation’s history. We are honored to play a part not just by investing in these bright young men and women, but by serving as an example of how a private sector entity can help lead change,” said Ambassador Hussein El-Khazindar, Secretary General of the Board of Trustees of the Citadel Capital Scholarship Foundation. By conditioning these awards on the scholars’ return to Egypt post-graduation, we are not just making a difference in the lives of 16 individuals, but of 16 communities.”

The CCSF was founded by Qalaa Holdings (formerly Citadel Capital), an African leader in infrastructure and investment, as a part of its commitment to sustainable education and human resource development in Egypt and across the region. The announcement of this year’s class of scholars brings to 122 the number of talented young Egyptian men and women who have been granted scholarships to pursue graduate degrees.

“From nanotechnology to public policy, heritage conservation to political development, this year’s scholars are a remarkable group of talented young Egyptians who will help our nation tackle opportunities and challenges alike in the decade ahead. It is an honor to play a role in furthering their academic studies,” said Qalaa Holdings Chairman and Founder Ahmed Heikal.

Governorates represented by this year’s class include Fayoum, Alexandria and Cairo; students from 12 governorates have won CCSF Scholarships since the foundation was first endowed, studying in fields including medicine, engineering, architecture & design, telecommunications, environmental studies, molecular biology, economics, human rights, law, business, development and education.

“We take a very wide view on what constitutes our duties as responsible investors,” said Qalaa Holdings Co-Founder and Managing Director Hisham El-Khazindar. “In that sense, we are careful to invest in education not for the direct benefit of our firm or our subsidiaries, but for the benefit of the communities in which we do business — be they major urban centers or rural areas.

“We believe lawmakers across our footprint have a duty to take seriously the imperative of educational reform and funding — and that the private sector has a duty to both their nations and their shareholders to not just advocate for world-class education systems, but to also make direct contributions in any way they can,” El-Khazindar said.

In addition to supporting community-based vocational training initiatives at the subsidiary level, Qalaa Holdings has also endowed the Citadel Capital Services Center, while El-Khazindar has personally endowed the Khazindar Business Research and Case Studies Center, both at the American University in Cairo.

Recipients of Citadel Capital Scholarships have attended top international institutions including Harvard, Stanford, Duke, Wharton, Pratt, the University of Pennsylvania and Columbia universities in the United States; Oxford, Cambridge, the University of London, University College London, Imperial College London and the London School of Economics in the United Kingdom; Lund University in Sweden; University of Heidelberg in Germany; University of Helsinki in Finland; Ghent University in Belgium; and ESADE Business School in Spain, among other top universities and institutes.

The 2014-15 Class of CCSF Scholars includes:

Name University Field
Mahmoud Hassib University of Pennsylvania LLM
George Anis New York University LLM
Amr Arafa Geneva LLM
Mahmoud Sarhan Cornell University MSC, Environmental Development
Khaled El-Samman Durham Heritage Conservation
Yasmine El-Garf Columbia MA, Political and Economic Development
Amr El-Shawarby Warwick MSc, Economics
Mohamed Abu Aziza Sussex MSc, Economics
Randa El-Borollosy Wharton MBA
Ahmed Farouk IMD MBA
Amira Aboul Seoud Harvard MBA
Sherif Assaf Duke MBA
Karim Malak Columbia MA, Middle Eastern Studies
Maher Rashwan Queen Mary University MSc, Dental Materials
Ahmed Nazeem UCL Mechanical Engineering
Nadine Salib Tufts MA, Public Policy



*The Citadel Capital Scholarship Foundation is an independent non-profit foundation endowed by Qalaa Holdings (then known as Citadel Capital) in 2007. The CCSF will in future be known as the Qalaa Scholarship Foundation.

The Citadel Capital Scholarship Foundation (soon to be renamed Qalaa Scholarship Foundation) helps bright Egyptian students pursue graduate degrees at elite international institutions on the condition they return to Egypt to work following graduation. The Foundation was established in 2007 by Qalaa Holdings, an African leader in infrastructure and industry. For more information, see


Qalaa Holdings (CCAP.CA on the Egyptian Stock Exchange) is an African leader in infrastructure and industry. Formerly known as Citadel Capital, Qalaa Holdings controls subsidiaries in core industries including Energy, Cement, Agrifoods, Transportation and Mining. To learn more, please visit


For more information, please contact:

Ms. Ghada Hammouda
CMO and Head of Corporate Communications
Qalaa Holdings

Tel: +20 2 2791-4439 • Fax: +20 22 791-4448

Mobile: +20 106 662-0002