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The United Bank launches 13 developmental and investment initiatives

29/05/2023

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The United Bank launches 13 developmental and investment initiative to add eco-value in the educational system

Ghada Mostafa- Assistant Managing Director and Head of Investment sector, The United Bank

  • UB has invested in the educational field more than 600 million Egyptian Pound.
  • The Egyptian State policy and The Central Bank of Egypt strategy is to deepen the Egyptian identity and build a well-educated and innovative generation.
  • UB dedicates a priority to deepen the cognitive and technological investment.
  • Investment in education is a springboard towards the new state.
  • UB innovates financing mechanisms to apply 2030 strategy and mobilize investments in private sector.
  • 13 developmental and investment initiative to make an advancement in the educational system

Cairo: May 29th, 2023

Under the auspices of Dr. Reda Hegzay- Minister of Education and Technical Education, The United Bank announced the sponsorship for the second annual summit for investment in the educational sector. Under the title of “Harmony private sector and the government to support the state ownership document in the educational field”. With the presence of businesspersons, economists, professors in education and a constellation of media figures.

The second annual summit shed the light on the importance of the educational system.  As a top priority for the Egyptian government towards the new state through the integrated investment with the private sector. This is as per the framework of the state ownership policy towards maximizing the educational and knowledge system according to the technological and international standards.

A range of discussion sessions, were held discussing vital issues, like setting a road map to enhance the private sector participation in the educational system. In addition to discussing the technical education axes as the real core to settle industry in Egypt. As well as, demonstrating suitable financing solutions to invest in the educational sector.

As the welcoming speech was discussing a road map to enhance the private sector participation in the educational system. Ghada Mostafa- Assistant Managing Director and Head of Investment sector, The United Bank spoke about banking investing in education focusing on UB investments within a unique and innovative strategy to develop and qualify the educational system. Wael Zyada- Partner and Executive Manager of Zila Capital moderated the session.    The session included Engineer Ater Hanoura- Head of private sector partnership Unit - The Ministry of Finance, Mohamed El Rasheedy- The Managing Director of Education Company for administration services. As well as, Ahmed Wahby- Chief Executive Officer, Egyptian Education Platform EEP, Mohamed El Kolla- Chief Executive Officer of Cairo company for Real estate CIRA and Mahmoud Khalifa- Chief Executive Officer of Light House educational platform.

Ghada Mostafa began her speech by demonstrating UB strategy that emerge from the National Strategy for human rights in 2021 that was launched by His Excellency President Abdel Fattah El Sisi, and directed through The Central Bank of Egypt in order to give more weight to educational system. The strategy was followed by the State Ownership document. It compromises developing and maximizing investments in the educational system, either private or governmental sectors, with all its different stages as obligatory education (pre- university education), commercial education, technical and agricultural education, applied technology schools, and dual system education.

She added that Egypt investment in fields of education, higher education, and scientific research have exceeded 22.8% annually. The government has allocated 317 billion Egyptian Pounds for pre- university stage education, and 159.2 for the higher education. In addition to launching integrated plans to enhance the infrastructure and tackle the overcrowded classrooms. Through building classrooms and renovating a big number of schools all over the Republic. As well as, expansion in building technological schools, Japanese schools, El Nile Egyptian schools, and schools for excellent students in science, technology and international schools.

The Egyptian state policy and CBE approaches seek to deepen the Egyptian identity and build an educated innovative generation as per the latest international educational standards. A generation, who is capable of facing challenges, leads the future, and promotes new state accomplishing sustainable integrated development. In addition, providing support scientific research system, and groups of innovative and creative in different fields. 

Ghada Mostafa stated that UB strategy is based on encouraging private sector investments and supporting the educational governmental institution. In order to promote the educational system with all different stages, and the technical education system, which is regarded as the locomotive of development.

UB concerted efforts include 13 investment and developmental initiative to promote Education in Egypt.

  • UB has joined the Egyptian alliance in establishing Light House platform for educational consultancies. Light House platform enjoys promising opportunities, through investing in Egyptian cadres who are capable of establishing effective projects in education. The alliance strategy is to invest in education directed to the middle class, and expand in governments and use the assets of the state via Light House platform, by establishing new schools and purchasing already established schools in order to improve them and maximize their value.
  • Launching Easy Learn banking solution to provide individuals the opportunity to financing their children education expenses either, conventional or compatible to shariaa provisions. Ghada Mostafa pointed out to Easy Learn UB product presented as smart and distinctive financing solutions to the Egyptian family and the educational institutions. That was with an official fatwa “Islamic statement”, issued from UB’s Shariaa Supervisory board. Clients can get this product with the simplest procedures from any of UB 68 branches, or through any of UB five digital centers in: Giza, 6th of October, El Sheikh Zayed, the industrial zone in Gamasa Dakhahlia, New Cairo, and El Mokattam. Therefore, the client can enjoy the product any time around the clock.

 

  • Middle and Small enterprises financing products meant for educational institutions. Mostafa mentioned that the educational process needs an intellectual and executive revolution. Therefore, there must be a strong partnership among the private sector, financial institutions, and the state to support development plans. Moreover, improve the quality and level up the efficiency of educational services offered, either through expansions with buildings or through technical applications and equipment. She added that UB provides financing services for educational institutions in order to finance equipment purchasing processes, either the equipment are technological or audio or visual. This product also applies to finance school transportation. Therefore, we can guarantee a better future for our children.
  • Deepening e- learning system, with the cooperation of the Egyptian Banking Institute and large local and international institutions. Mostafa pointed out that on the breakdown of Covid-19, UB started to innovate alternative mechanisms, to deepen the educational system and training, in order to improve and enhance the human cadres. The e- learning was the channel to proceed in education, and many criteria were set to guarantee the best applicable practices. The thing that contributed in:
  • Decreasing the cost of travelling and commuting to get a training course.
  • Developing the traditional kind of training courses to be something like discussion panels, and work sessions through PCs, cell phones, video conference.
  • Taking care of the trainee comfort and providing them with the ability to get the training material via their own PCs.
  • E- Learning is flexible in terms of time and place. Moreover, it provides more freedom for different age segments in order to continue self-training and learning.
  • The ability to get specialized training courses by the best well- known trainers according to international standards.
  • Decreasing time assigned to move into and out from the training course place. Therefore, increasing the volume of information the trainee gets.
  • UB invests in human resources and qualifying them to future leadership. That is one of UB major challenges is to qualify fresh and middle management workforce with innovative ideas, administration and applications opening the gate for emergency of young qualified leadership. High Fliers are future leaders who have successfully accomplished all internal training courses and external in the Egyptian Banking Institute. In order to start the practical participation of setting strategies and executive UB transformation plans.
  • Support obligatory school students in South Sinai governorate. Ghada Mostafa mentioned that UB has played a vital developmental role in overcoming the problem of students early leaving schools in South Sinai. UB provided support to a number of 356 students in obligatory education. In addition, encourage them to proceed with their educational journey especially those with distinctive performance.
  • The architecture engineering students- Cairo University. She stated that UB, for three years in row, has provided support to a number of Egyptian researchers to participate in international events. That is in the framework of The Egyptian state vision of sustainable development 2030. A number of 26 students and graduates of architecture engineering- Cairo University have won the second and third rewards in international competitions. The competitions were in Portugal and Italy; they were about designing houses with sustainable standards to residents of slums.
  • Providing 19 scholarship for Zewail University for Sciences and Technology. She stated that UB has granted 12 scholarships in Zewail University for Sciences and Technology for eligible students. As per the framework of supporting and developing the scientific research system, and working on empowering Egyptian students and developing their innovative abilities and accomplish advancement in scientific research system.
  • Supporting Engineering faculty students- Cairo University. UB provided support to the Engineering team in Cairo University. The support was to sponsor their innovative project of an energy- saving racecar. The project has won in “Shell eco- Marathon” competition in Italy.
  • Launching the initiative of “Our Children in Our Eyes” under the auspices of The Minister of Education and with the collaboration of “Good Makers” institution. Ghada has stated that launching that national initiative aims to eliminate blindness causes and what causes it for children of Egypt. With the collaboration of “Good Makers” institution and under the auspices of the Minister of Education and Technical Education. This initiative aims to raise the general awareness and shedding the light on these children and improve their lives, in a way that afford them a “decent life” and better future. The causes of Blindness is a real threat to the upcoming generation, who is supposed to make a better future to our nation. Blindness would hinder them from making outstanding academic achievements. Therefore, limiting their opportunities to make progress among their life. The medical team has examined schoolchildren in four governorates: South Sinai, Halayeb we Shalateen, El Fayoum, and Luxor. They also provided the children with the necessary medical service on three main axes: fighting causes of blindness, fighting anemia, and diabetes.
  • Providing support to the Arts Academy for Applied Technology - the first school in the Middle East and Africa that graduates trained technical work force, specialized in executing live shows. In all artistic specialization performances, shows, the heritage professions in cultural industries, such as: film making, theatre, video, ballet and the musical performances, folklore, child arts… etc.

 

Ghada said that UB has issued “Meeza” pre- paid national card for the students, as a monthly reward all along the academic period, and during the internship. In addition, UB organized a range of cultural and financial lectures. In order to spread the non- monetary financial transactions. Through the package of “Your Bank Online”, that includes UB digital wallet, Mobile Banking, and Internet Banking. Moreover, ATMs provide services for the students, the academic staff in the school.

 

  • Supporting Asdaa community team in LEGO international competition for robots. Three handicapped teams have won in the international competition. Asdaa presented three different projects:
  • The first: changing the magnetic field of earth with an area far from wind turbines. Therefore, changing the places with high temperature and sunlight, by using concave mirrors to collect sun light and risen the temperature in places far from wind turbines. The thing that makes birds continue with their journey without being hit by turbines. In addition, providing those birds with feeding resources far from wind turbines and near heat and sunlight. Which let wind turbines produce electricity without stop.
  • The second project: building a whole robot unit, that walks through the solar cells of the station. The robot is sensitive to cells covered with dust. It cleans those cells automatically. As well as, it senses broken and burnt cells, and then exchange them with good cells. Moreover, sensors are used to measure the electricity passing through cables. And once the electricity is off, the sensors detect the spot of blackout, then report the maintenance team of that spot to get it fixed. Therefore, solar stations can work with full power.
  • The third project: was about the solar energy. This project provides a solution to the poor efficiency of the solar cells, and the amount of electricity produced while the solar panels are covered with dust, or broken, or burnt.
  • Sponsoring the annual competition of Holy Quran recite. Ghada Mostafa pointed out to UB dedication to organize the annual competition of Quran recite, and sponsor Quran reciters in 18 governorates in the Republic. The number of reciters exceeded 3000. This takes place within the framework of an integrated annual program to support those reciters on social and scientific levels. This aims to provide the community with an integrated model of educated religious man who knows the provisions of sharia.

 

End.