The United Nations Global Compact’s (UNGC) Global Reporting Initiative (GRI) highly endorses Qalaa Holdings’ first Sustainability Report in recognition of its commitment to sustainability, governance and transparent communication with its stakeholders.
Qalaa Holdings (CCAP.CA on the Egyptian Exchange), an African leader in infrastructure and industry, is the first Egyptian company to receive an A grade rating from the UNGC’s Global Reporting Initiative (GRI) on its first Sustainability Report. The GRI which helps businesses and governments communicate the impact of business on critical sustainability issues, awarded Qalaa Holdings for its alignment of the company’s business operations with the UNGC’s principles for environmental, social and governance policies.
“This recognition from the UNGC is a testament to the success of our efforts to integrate our corporate governance framework with a responsible investment philosophy and global best practices,” said Ahmed Heikal, Qalaa Holdings’ Chairman and Founder. “Since our inception we have been committed to building an institution that takes into consideration the principles of sustainability, inclusivity, human capital development and innovation.”
Adding to this, Qalaa Holdings’ Co-Founder and Managing Director Hisham el Khazindar said, “Although we have grown and changed structurally over the years, we have always held our principles close – and our responsibilities as a corporate citizen even closer. Today our investments create jobs and help make economies more efficient, more sustainable and more globally competitive.”
Qalaa Holdings firmly believes that joining and becoming active members in international organizations like UNGC and the Global Impact Investing Network (GIIN), is key for Egyptian companies as they aim to become integrated into the global community and attract larger volumes of FDI and financing from Development Finance Institutions (DFI’s).
The multi-sector investment holdings company’s sustainability programs focus on three main pillars: community and human capital development, the environment, transparency and governance. The company also advocates the adoption of “the double bottom line” a term coined to measure a company’s success based on both positive social impact and financial performance. In addition, it strives to develop human capital across its footprint from its Management Trainee program in East Africa and its Scholarship Foundation - now in its 10th year and with 140 scholars - focusing on shaping the next generation of great Egyptian business leaders.
Since the company’s inception adhering to environmental principles has been at the heart of its investments. For example, its Egyptian Refining Company will cut Egypt’s sulfur emissions by nearly a third; Tawazon is a waste management company that recycles and turns waste into energy and Nile Logistics – a freight forwarding and logistics provider, is relieving pressure on Egypt's roads and highways by using more fuel-efficient byways on the Nile River.
Qalaa Holdings’ commitment to sustainability was recently praised at the Egyptian Exchange’s (EGX) Sustainability Conference for being a top performer on the exchange’s sustainability index. Speaking at the conference, Ghada Hammouda, Qalaa Holdings’ CMO and Head of Marketing Communications, said: “Profit should no longer be the only measure of growth and it is imperative that the private sector adopts a more holistic approach in the decision making process. Responsible investing is proven to be a win- win for all stakeholders, with equal weight given to shareholder profit as well as ensuring social and environmental responsibility with regards to the communities in which we operate across our footprint in Egypt and East Africa.”
Qalaa Holdings has recently won international recognition for its sustainability programs for its governance framework (2015 Corporate Governance Awards), and outstanding sustainability innovation for an investment firm in Egypt (Egypt Innovation and Excellence Awards 2015).
Previous Qalaa Holdings press releases on this subject and others may be viewed online from your computer, tablet or mobile device at qalaaholdings.com/newsroom.
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, 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.
For more information, please contact:
Ms. Ghada Hammouda
CMO & Head of Marketing Communications
Tel: +20 2 2791-4439
Fax: +20 22 791-4448
Mobile: +20 106 662-0002