The company’s participation highlights its commitment to lead by example through investments and projects that have sustainable economic, social, and environmental impacts
Qalaa Holdings (CCAP.CA on the Egyptian Exchange), an African leader in energy and infrastructure, participated in the GAFI-sponsored seminar “Social Responsibility: The Road to Investment and Development,” held on 6 March 2019. Represented by Chief Marketing and Sustainability Officer Ghada Hammouda, Qalaa Holdings’ participation reaffirms the company’s commitment to responsible investing as well as the importance of constructive partnerships in guiding the involvement of the private sector towards achieving the UN Sustainable Development Goals (SDGs). The conference was attended by government officials as well as leading members of the private sector and the civil society.
The event highlighted the vision of the Ministry of Investment and International Cooperation and GAFI regarding the advancement of corporate social responsibility with a focus on private sector success stories. Participants also discussed the various means in which government, the private sector, and NGOs (referred to as the Golden Triangle) can create partnerships and cooperate in areas related to social development, social responsibility and the advancement of the SDGs.
A leading pioneer in the area of social responsibility, Qalaa stressed the importance of increasing collaboration among the three sides of the Golden Triangle. Qalaa has had a successful track record in establishing partnerships based on mutual respect and shared interests. The company has established partnerships with more than 44 NGOs and more than 20 government entities, international organizations, and ratings agencies.
Hammouda outlined Qalaa’s responsible investing model, emphasizing the company’s commitment to leading by example and pursuing investments that can have a sustainable economic, environmental, and social impact. She also highlighted Qalaa’s dedication to aligning its operations with global environmental and social standards as well as the targets set forth by the SDGs and Egypt 2030 Vision. Her presentation included a documentary showcasing the Egyptian Refining Company (ERC) as an example of the effective integration of responsible investing via successful partnerships. ERC is the largest public private partnership project in Africa with total investments of US$ 4.3 billion.
Over the past 14 years, Qalaa has created nearly 40,000 job opportunities and developed more than 50 companies across various industries that have positively impacted the lives of local communities. Its investments have ranged from natural gas distribution, electricity distribution, solar power, and waste management solutions to financing for small- and medium-sized businesses.
Qalaa strives to comply with the SDGs as evidenced by efforts to improve the quality and competitiveness of Egypt’s workforce (SDG 8: Decent work and economic growth). Furthermore, the company firmly believes in enhancing and providing access to education as the foundation upon which to achieve development (SDG 4: Quality education). Qalaa adopts a comprehensive approach toward improving education in Egypt, reflected in the efforts of the Qalaa Holdings Scholarship Foundation, which has provided 184 scholarships for students to pursue graduate studies abroad since 2007. In addition, ERC’s Mostakbaly Program for Mostorod residents provided 51 scholarships for public school graduates to pursue college degrees and 60 scholarships for teachers. The company also provides various technical training programs across its portfolio companies that have benefited more than 32,000 individuals.
Qalaa is keen to realize its targets for responsible investing through comprehensive strategies that integrate global practices for social and environmental sustainability, as well as adopting international standards when preparing operational reports. Qalaa is dedicated to consulting regularly with its partners and any relevant parties to enhance coordination efforts and the performance of the initiatives taken by the company to achieve its sustainability goals.
Qalaa Holdings (CCAP.CA on the Egyptian Stock Exchange) is an African leader in energy and infrastructure. Formerly known as Citadel Capital, Qalaa Holdings controls subsidiaries in industries including Energy, Cement, Agrifoods, Transportation & Logistics, and Mining. To learn more, please visit qalaaholdings.com.
Statements contained in this News Release that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of Qalaa Holdings. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Certain information contained herein constitutes “targets” or “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “seek,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. Actual events or results or the actual performance of Citadel Capital may differ materially from those reflected or contemplated in such targets or forward-looking statements. The performance of Qalaa Holdings is subject to risks and uncertainties.