Cairo, June 24, 2024: The Qalaa Holdings Scholarship Foundation (QHSF), Egypt’s largest private sector-funded scholarship program, hosted a ceremony to celebrate its 18th anniversary and announce the recipients of the 2024/2025 scholarships. The event also recognized scholarships sponsored by the Egyptian Refining Company (ERC), Qalaa Holdings' primary investment arm, as part of its community engagement initiatives.

Monday, June 24, 2024

Cairo, June 24, 2024: The Qalaa Holdings Scholarship Foundation (QHSF), Egypt’s largest private sector-funded scholarship program, hosted a ceremony to celebrate its 18th anniversary and announce the recipients of the 2024/2025 scholarships. The event also recognized scholarships sponsored by the Egyptian Refining Company (ERC), Qalaa Holdings' primary investment arm, as part of its community engagement initiatives.

The ceremony was attended by H.E. Dr. Hala Elsaid, Minister of Planning and Economic Development, and Ms. Ghada Waly, former Minister of Social Solidarity, in addition to senior officials, government representatives, diplomatic envoys, and other notable attendees. Distinguished participants included: from Qalaa Holdings, Dr. Ahmed Heikal, Founder and Chairman; Hisham El-Khazindar, Co-Founder and Managing Director; Ghada Hammouda, Group Chief Sustainability and Marketing Officer; QHSF’s Board of Trustees led by Eng. Mohamed Aly El Hamamsy, Vice Chairman of the Board of Trustees, and Yasmine El-Dorghamy, Executive Director. Representatives from the Egyptian Refining Company (ERC) included Aliaa Heikal, Chief Financial Officer of ERC, and Mr. Hany Ismail, Head of the Community Development Office. Additionally, representatives from the U.S. Embassy in Egypt were present, including Mr. Ruben Harutunian, Minister Counselor for Public Affairs - as Treasurer, and Ms. Sarah Awad, Public Affairs Specialist.

This comes as part of Qalaa Holdings’ strategy, through which it seeks to develop the educational system and enhance the capabilities of Egyptian youth in line with the state's strategy and in accordance with the UN Sustainable Development Goals (SDGs), specifically SDG 4 (Quality Education), SDG 5 (Gender Equality), SDG 8 (Decent Work and Economic Growth), and SDG 10 (Reduced Inequalities). The QHSF aims to have a significant impact on Egyptian society through the scholarships it offers, targeting the creation of a generation of young people capable of being role models in perseverance, pursuit of education, gaining experiences in various sectors, and sharing knowledge, to have a positive impact on society.

This year, 7 male and female recipients were awarded scholarships in the fields of economics, business administration, law, and financial technology. Following a rigorous evaluation process, these scholars were selected for their exceptional qualifications and adherence to the scholarship criteria. The recipients for the upcoming academic year hail from the governorates of Cairo, Giza, Fayoum, and Gharbia, exemplifying the Foundation's dedication to broadening its scholarship outreach to encompass all regions of the country. To date, the Foundation has proudly awarded over 215+ scholarships, underscoring its ongoing commitment to educational excellence and regional inclusion.

Scholarship applicants must be Egyptian citizens residing in Egypt and not exceeding 35 years of age at the application deadline. Additionally, applicants must have already been accepted into the university they intend to enroll in and must attach the university acceptance letter with their application form. They must demonstrate an outstanding academic record and a genuine need for financial support to pursue their studies. Furthermore, applicants should exhibit exceptional personal qualities and a strong passion for learning and research. Scholarship recipients are required to return to work in Egypt for a minimum of two years after completing their studies, thereby ensuring that the knowledge and skills acquired benefit the country and its people.

Her Excellency Dr. Hala El-Said, Minister of Planning and Economic Development, praised the social development initiatives of Qalaa Holdings, particularly QHSF. She emphasized the importance of investing in education as the cornerstone for building a better future for Egypt. She stated: “Today's celebration brings hope, positive energy, and a promising outlook for our country's future. I extend my gratitude to the Qalaa Holdings and QHSF for exemplifying the private sector's crucial role in social responsibility. Their significant contributions to education represent the best investment for our future. By investing in youth and continually providing these scholarships, Qalaa Holdings reaffirms its deep-rooted belief in education as a catalyst for development and progress.”

Dr. Elsaid emphasized that during her eight-year tenure as a board member of QHSF, she closely witnessed the institution's unwavering commitment to delivering high-quality educational programs that promote diversity and inclusivity. This dedication empowers youth to realize their aspirations, underscoring QHSF's role in fostering sustainable development and social progress.

She explained that the foundation is dedicated to selecting students and awarding scholarships to the world's top universities, ensuring they receive an exceptional educational experience that prepares them for the job market. Continuous education and training are fundamental tools for building a better future. QHSF exemplifies leadership in this area, contributing not only to intellectual growth but also to character development and the promotion of positive values among youth.

She underscored the importance of partnerships between the public and private sectors and civil society, emphasizing their critical role in achieving the state’s plans and goals, particularly Egypt's Vision 2030, which provides the overarching framework for sustainable development. She concluded by stating, "The journey of education is not merely academic; it is a continuous cultural and social journey that contributes to the comprehensive development of individuals."

Ms. Ghada Wali, former Minister of Social Solidarity, praised Qalaa Holdings for its steadfast commitment over the past 18 years in supporting youth and investing in education. She highlighted education as the paramount refuge and a critical asset during challenging times globally and regionally. Ms. Waly also commended the organization for its accomplishments in promoting geographical diversity, dismantling traditional barriers that limit women's potential, empowering female mobility, and facilitating opportunities for international travel and study at prestigious universities.

She shared inspiring success stories of scholarship recipients through text and audio messages, stating, "I commend your investment in education, as it illuminates minds, enriches knowledge, and fosters wisdom.”

She emphasized that sustainability forms the core principle guiding development strategies, and highlighted that the private sector, when investing in education sustainably as exemplified by Qalaa Holdings, merits commendation, support, and recognition.

Dr. Ahmed Heikal, Founder and Chairman of Qalaa Holdings, expressed his pride in the foundation's Board of Trustees and the outstanding achievements of the young scholarship recipients, stating: “I extend my sincere gratitude to the foundation's Board of Trustees for their unwavering support and supervision and convey my best wishes to this year's scholars for their continued success."

He added: "We established QHSF to support the aspirations of Egyptian youth, focusing on disciplines of strategic importance. Our goal is to provide promising students with an integrated educational experience that expands their knowledge horizons, enhances their creative skills, and unleashes their potential to overcome challenges and drive sustainable economic growth.”

Dr. Heikal underscored Qalaa Holdings' steadfast commitment to social responsibility through diverse programs, prominently featuring the Qalaa Holdings Scholarship Foundation program as most notably exemplifying this commitment.

Hisham El-Khazindar, Co-Founder and Managing Director of Qalaa Holdings, emphasized during his speech that: “We believe in the importance of investing in human capital development, developing youth, and equipping them with skills to prepare a new generation of entrepreneurs and young leaders to build Egypt's future.” He highlighted the Foundation's significant commitment to empowering ambitious Egyptian youth, who are poised to drive positive societal change. This is facilitated through scholarships enabling them to pursue education at top-notch leading universities in their fields, with the commitment to return to Egypt and contribute for a period of two years post-study, fostering sustainable development and corporate responsibility.

Commenting on the ceremony, Ambassador Hussein El-Khazindar, Chairman of the QHSF Board of Trustees, emphasized that the foundation aims to enable scholarship recipients to achieve outstanding academic degrees at the world’s leading universities. He expressed pride in the Foundation's unwavering commitment to sustaining its scholarship program despite the substantial challenges confronting global educational systems.

Highlighting QHSF's achievements over 18 years of dedicated effort, Ambassador El-Khazindar noted: "QHSF has successfully awarded over 215+ scholarships across 35 academic disciplines from more than 65+ prestigious global universities. These initiatives have nurtured qualified human resources essential for driving development in Egypt." He affirmed the Foundation's ongoing mission to support exceptional Egyptian students and provide outstanding educational opportunities, aligning with its core principles and commitment to creating value for all stakeholders.

Yasmine El-Dorghamy, Executive Director of QHSF, affirmed that since its inception, the Foundation has diversified the fields of scholarships offered to outstanding Egyptian youth, believing in the importance of investing in developing their academic capabilities across various specialties. She stated, “One of the core strengths of QHSF is its commitment to empowering prodigies across diverse disciplines. The foundation focuses on a wide array of fields to offer opportunities for aspiring youth interested in studying rare, innovative, or non-traditional areas.”

Aliaa Heikal, Chief Financial Officer of the Egyptian Refining Company (ERC), expressed her pride in the Egyptian Refining Company's seventh consecutive year of awarding scholarships to Egyptian youth to study at leading international universities and share their expertise for community advancement. She emphasized that the company takes it upon itself to support academically accomplished individuals, and is dedicated to providing any necessary support that contributes to achieving the nation's developmental goals, thereby fostering community development and enhancing opportunities for youth to secure prominent careers.

Heikal highlighted: "This initiative underscores Egyptian Refining Company's corporate responsibility as a strategic partner in the development of our communities, including Mostorod, El Khosous and East Shubra. These scholarships are part of our broader efforts through the “Mostakbaly” program, aimed at fostering education and advancing knowledge across various fields."

Ghada Hammouda, Group Chief Sustainability and Marketing Officer at Qalaa Holdings, highlighted the strategic focus of community development initiatives on enhancing and adapting educational processes. She stated: "Given the ongoing evolution and interconnected nature of global challenges, the inclusive education approaches, diverse skills, innovation, and creativity are crucial for achieving integrated and sustainable economic and social development." Reflecting on the Foundation's 18-year journey amidst recent global economic challenges, she noted: "I am proud of the Foundation's resilience and impact in overcoming barriers, raising awareness, expanding opportunities, and integrating emerging fields like financial technology and digital engineering to align with the competitive global landscape and foster a new generation of exceptional business leaders.”

Hammouda further emphasized, "Qalaa's commitment extends beyond enhancing economic and social development and fostering knowledge acquisition. It also encompasses promoting inclusivity, equality and equity, and geographic diversity." She praised QHSF for providing equal opportunities across approximately 15 governorates, ensuring gender parity, and integrating people with special needs. Notably, female recipients of the QHSF program represent 46%.

Qalaa Holdings and its subsidiaries have been at the forefront of corporate social responsibility, particularly in advancing the educational system. This strategic focus aims to elevate educational standards across all levels, starting from kindergarten to post graduate studies. It is worth noting that the total number of direct beneficiaries of Qalaa Holdings' human capital development programs has reached c.54,200 male and female recipients. On a subsidiary level, ERC’s comprehensive approach to educational development includes initiatives such as the "Mostakbaly for Teachers" and "Naddarty" programs, which provide grants to teachers, and "Mostakbaly for Students" program and QHSF, offering scholarships for university, vocational, and master's education, in addition to refurbishing 45 schools.

ERC extends its support through the "Mostakbaly for Students and Teachers" program, benefiting residents in the vicinity of the Mostorod project. To date, this initiative has positively impacted 480 individuals. Since its inception in 2016, "Mostakbaly for Students" program has supported 153 students, including six who received scholarships for graduate studies at international universities, and 106 students who received technical training scholarships at Don Bosco Institute. The "Mostakbaly for Teachers" program, launched in 2017, has benefited 215 educators.

QHSF Class of 2024\2025