Business Reporter: Why One Company That's Helping Impoverished Egyptian Communities Is Making Sure They Can Stand On Their Own Two Feet

Business Reporter: Why One Company That's Helping Impoverished Egyptian Communities Is Making Sure They Can Stand On Their Own Two Feet

PR Newswire

LONDON, June 22, 2020

LONDON, June 22, 2020 /PRNewswire/ -- The rural settlement of El Deir in Egypt is a long way from Cairo and Alexandria – not just geographically, but socially and economically too. It suffers from high levels of unemployment, crumbling infrastructure, limited access to healthcare and education, and unsanitary housing conditions.

The EFG Hermes Foundation is helping to change all that, however. Videos produced in association with Business Reporter show how the Foundation is helping improve the lives of the 75,000 people who live there by building new homes with proper sanitation, developing educational centres powered by solar panels, establishing a new community service centre, renovating and supporting healthcare units. In September last year, for example, the foundation established a village preschool, the Young Scholars Academy, which equips 70 children with the skills they need to follow a successful educational path. The facility also created jobs for the local community, with 27 women hired as teachers from the village and trained in the Montessori philosophy.

"The EFG Hermes Foundation was created to support sustainable, high impact development initiatives to assist local underprivileged communities across Egypt today," says Karim Awad, Group CEO of EFG Hermes. "It is part and parcel of our strategy to integrate sustainable practices in every facet of our operations as we work to give back to the communities in which we live and work to the benefit of the economy, society, and the environment."

EFG Hermes aims to make positive changes, in El Deir and other communities, by supporting sustainable, innovative programmes that lead to greater opportunity and positive growth. These projects are not merely charitable works with a limited lifespan, but are designed to help communities stand on their own two feet and become sustainable, positive places for their inhabitants. The foundation's focused, collaborative approach means it is committed to delivering a sustainable project model until it is clear that the local community is able to support itself.

Since 2006, more than half a million people have benefited from projects financed and run by the foundation. Its principles are grounded in a commitment to creating an ecosystem based on good governance and environmental and social practices. As a result, EFG Hermes is the first financial services corporation in Egypt to become a signatory of the United Nations Principles for Responsible Investment. As foundation CEO Hanaa Helmy explains, "If you want to see an impact in a community, you must work on every need. Without having your basic human needs of food, shelter, and education met, you cannot be the citizen your community needs you to be to grow and prosper."

To watch some films showing the EFG Hermes Foundation's work in El Deir, and for more information about its projects, click here.

Notes for editors

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About the EFG Hermes Foundation

The EFG Hermes Foundation is a non-profit, non-governmental organisation established in 2006, with the aim of assisting people and institutions in overcoming the financial, educational and health-related challenges facing the region. The Foundation supports innovative and sustainable programmes that increase the opportunities for those most in need, to make a positive change in our local communities. Since its establishment, the Foundation has played a significant role in the development of local societies, working with reputable institutions and NGOs on numerous projects.

About EFG Hermes

With a current footprint spanning thirteen countries across four continents, EFG Hermes started in Egypt and has grown over 35 years of success to become a leading financial services corporation in Frontier Emerging Markets. Drawing on our proven track record and a team of more than 5,600 talented employees, we provide a wide spectrum of financial services that include investment banking, asset management, securities brokerage, research and private equity to the entire MENA region. Commitment to good governance and environmental and social practices, has led EFG Hermes to becoming the first financial services corporation in Egypt to become a United Nations Principles for Responsible Investment (UNPRI) signatory.

EFG Hermes Finance, the Group's non-bank financial services platform, offers consumer finance, mortgage, payments, microfinance, factoring, leasing and insurance.

EFG Hermes is the premier financial services corporation in Frontier Emerging Markets with a presence in Egypt, the United Arab Emirates, Saudi Arabia, Kuwait, Oman, Jordan, Pakistan, the United Kingdom, Kenya, the United States, Bangladesh, Nigeria and Vietnam.

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