Cairo, 24th of October
Under the auspices of the Italian Ambassador to Egypt, ALEXBANK – a bank of Intesa Sanpaolo Group, El Sewedy Education, and E4Impact Foundation, signed a Memorandum of Understanding (MoU) to implement and develop a dedicated Agri-Entrepreneurship Program.
According to the MoU, ALEXBANK will fund the “Agri-Entrepreneurship Program” as part of its efforts to achieve sustainable development and support entrepreneurship, with formation to be delivered by E4Impact foundation and El Sewedy Education through its Innovation Hub, which nurtures the innovation ecosystem promoting innovative thinking, foster start-ups’ growth, and connect them with investors capable to enable a faster scale up.
The MoU was signed in a ceremony held at the Italian Embassy, in the presence of H.E Michele Quaroni, Italy’s Ambassador to Egypt, H.E Dr. Rania Al-Mashat, the Minister of International Cooperation, H.E Dr. Ali Meselhy, Minister of Supply and Internal Trade, Dr. Ziad Bahaa Eldin, Chairman of ALEXBANK, Mr. Dante Campioni, Managing Director and CEO of ALEXBANK, Eng. Ahmed ElSewedy, Chairman of El Sewedy Education, Mr. Ihab Salama, CEO of El Sewedy Education, and Dr. Frank Cinque, General Manager of E4Impact Foundation.
The Agri-Entrepreneurship program intends to support innovative entrepreneurship in the agribusiness field addressing the emerging need of a growing productivity while preserving the natural resources and the environment in general, and reaffirm the importance of the agricultural sector and its sustainable development also to combat climate change.
H.E. the Italian Ambassador to Egypt, Michele Quaroni, underlined the importance of a partnership that brings together leading institutions, from Italy and Egypt, in the field of Education and Finance, and emphasized the contribution the program will give to the sustainability of the agricultural sector in Egypt. This, he added, falls in line with the international efforts to promote the UN Sustainable development goals and the discussions that will be held at the COP27 in Sharm el Sheikh.
Upon signing the MoU, Eng. Ahmed El Sewedy, Founder and Chairman of El Sewedy Education stated that “the initiative follows El Sewedy Education’s broader strategy to promote entrepreneurship and apply the latest technologies and best practices targeting activities impacting the main economic pillars of the country and its sustainable development following Egypt’s 2030 vision”
In Addition, Ihab Salam, CEO of El Sewedy Education assured that “Signing this agreement comes as a role of implementing the Egyptian government’s directives for major investors to support entrepreneurs and their ideas, noting that it provides all training solutions in agriculture technology for entrepreneurs, supporting entrepreneurship in Egypt and contributing to supporting youth.
He added that it is working on spreading the start-ups among students and youth in Egypt, supporting them with all possible means, in order to implement and promote their ideas and ensure their success, so Egyptian companies get to have a strong position in Middle East and North Africa Region
Mr. Dante Campioni, Managing Director and CEO of ALEXBANK added: “We recognize the importance of the agricultural sector for Egypt’s economy, as one of the vital contributors to sustainable development and GDP formation; this MoU emphasize our efforts in supporting the development of this sector with a holistic approach, affirmed through several strategic alliances entered during the years with major public and private sector entities. Providing technical and financial support to the Agri-Entrepreneurship Program, complement our strategy to develop the entrepreneurial ecosystem in Egypt to achieve in the longer term a thriving, robust and self-sufficient agricultural sector.”
Mr. Frank Cinque, General Manager of E4Impact Foundation added “We are proud to start collaborating with relevant institutions such as Alex Bank and El Sewedy Education in support of entrepreneurs. We really hope that this partnership will generate the same significant impact in Egypt as in the other 19 countries where E4Impact Foundation operates.”
Press Extras: El Sewedy Education is an Egyptian education investment and management company, established with the purpose of becoming the leading provider of high-quality, sustainable, and fit-for-purpose education, optimizing the benefits for students and businesses alike. The Innovation Hub is an initiative by El Sewedy Education as a multidimensional platform that aims to create awareness of and support the innovation climate and entrepreneurship ecosystem in Egypt and Africa.