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Daily News Egypt
4 days ago
- Business
- Daily News Egypt
Egypt launches campaign to curb single-use plastic pollution amid global climate push
Egypt's Minister of Environment, Yasmine Fouad, on Sunday launched a nationwide awareness campaign titled 'Reduce It' to combat single-use plastic pollution, aligning with World Environment Day 2025 and its global theme, 'Beat Plastic Pollution.' The initiative, supported by the United Nations Industrial Development Organization (UNIDO) and the Government of Japan, aims to reduce the environmental impact of single-use plastics and promote sustainable alternatives across the country. Held in Cairo, the campaign launch brought together senior representatives from government, international organizations, the private sector, and civil society. Among the attendees were Japan's Ambassador to Egypt, Oka Hiroshi, UNIDO Regional Director Patrick Gilabert, industry leaders, and officials from the Ministry of Environment and waste management authorities. Minister Fouad thanked President Abdel Fattah Al-Sisi for his continued support of Egypt's environmental efforts, describing his endorsement of the national plastic reduction strategy as a 'cornerstone' of the country's broader environmental agenda. She emphasized that the campaign builds on a multi-year initiative to introduce standards for plastic alternatives, balancing the interests of manufacturers and consumers. 'We are shifting the focus from bans to gradual reduction—especially in anticipation of a future global, legally binding agreement on plastic pollution,' Fouad said, referencing current negotiations led by the UN Environment Programme. Fouad outlined the economic and environmental advantages of reducing plastic use, including lower import costs for raw materials, reduced production expenses, and new opportunities for local industries to develop eco-friendly alternatives. She also pointed to serious health and ecological risks—citing marine and livestock harm observed in Egypt's southern Red Sea protectorates. Transitioning to sustainable alternatives, she noted, will require modern technology, regulatory clarity, and skilled labor—all supported by Egypt's new investment law, which prioritizes green industries such as plastic alternatives. Japan's Ambassador, Fumio Iwai, praised the campaign as a continuation of the 2019 agreement between President Al-Sisi and the Japanese government, emphasizing Japan's support for SMEs in adopting greener practices. 'We believe this effort will help position Egypt as a regional hub for environmental innovation and sustainability,' he said. UNIDO's Patrick Gilabert echoed this sentiment, explaining that the campaign is part of a broader project to embed circular economy principles within Egypt's plastics value chain. Funded by Japan, the initiative aims to reduce plastic consumption, raise awareness, and strengthen technical capacity within local businesses. Gilabert noted that UNIDO is currently supporting 23 environmental projects in Egypt worth approximately $3.5bn, with an additional $4.6bn planned under Egypt's Vision 2030. Short films were screened at the event, highlighting the dangers of single-use plastics and the goals of the 'Reduce It' campaign. A panel discussion followed, focusing on regulatory approaches and circular economy practices in Egypt's plastics industry. The campaign forms part of Egypt's broader national strategy to phase out harmful plastic products and is embedded within the 'Enhancing Circular Economy Practices in the Single-Use Plastics Value Chain' project, jointly implemented by UNIDO and supported by the Japanese government. Officials say the initiative is expected to reduce demand for virgin plastic by promoting reusable alternatives—helping to cut carbon emissions, reduce environmental degradation, and improve public health. It also aims to stimulate green industry growth, create jobs in recycling and sustainable manufacturing, and reduce Egypt's reliance on imported materials. In closing, Minister Fouad thanked key partners—including UNIDO, the World Bank, the Japanese Embassy, Egyptian lawmakers, and civil society groups—for their support. She reaffirmed her commitment to championing African climate and sustainability priorities in her upcoming role as Executive Secretary of the United Nations Convention to Combat Desertification.
Zawya
09-04-2025
- Business
- Zawya
MoIAT transforms conformity labels elevating Made in the UAE products globally
The update aims to enhance the competitiveness of Emirati products locally and abroad. Companies have up to a year to transition to the new label designs and conformity marks. Abu Dhabi – The Ministry of Industry and Advanced Technology (MoIAT) has issued a resolution updating 12 national conformity marks and efficiency labels, aligned with the National Strategy for Industry and Advanced Technology (Operation 300bn) and in support of the Make it in the Emirates (MIITE) initiative. The move aims to enhance the competitiveness of Emirati products in both domestic and international markets while attracting new investments. The updates introduce a new visual identity for the badges and labels, along with a transitional period for manufacturers and suppliers to comply with the new procedures. The transition period is set at 12 months for products already in local markets and 6 months for imported products, ensuring that companies have ample time to adjust. The updated conformity marks and efficiency labels include the following: UAE Standards and Metrology Mark National Conformity Mark 'Compliant' Oxo-Biodegradable Plastic Products Mark (Biodegradable) Conformity Mark for Legal Measurement Instruments (Verified) Environmental Mark Free-Range Chicken Mark Made in the Emirates Mark Energy Efficiency Label for Electrical Appliances Water Efficiency Label RFID Tire Label Environmental Performance Label for Paints and Varnishes His Excellency Omar Al Suwaidi, Undersecretary of MoIAT, said: 'MoIAT is committed to enhancing the competitiveness of Emirati products locally and internationally, in line with Operation 300bn. The recent resolution to update the national conformity marks and efficiency labels will reinforce the position of Emirati products in regional and global markets while supporting companies that strive to manufacture high-quality goods.' He added, 'The UAE has a mature quality infrastructure system, ranking fifth in this year's Quality Infrastructure for Sustainable Development Index, as reported by the United Nations Industrial Development Organization (UNIDO) and the International Network on Quality Infrastructure (INet QI). This achievement reflects our continuous collaboration with federal and local government entities, as well as private sector companies, to enhance performance, productivity, and industrial competitiveness, ultimately improving the quality of our products and their export capabilities.' HE Al Suwaidi emphasized, 'We take immense pride in Emirati products that bear the Made in the Emirates Mark, which distinguishes them in international markets due to their exceptional quality. By enhancing our national conformity marks and efficiency labels, we aim to facilitate trade, eliminate technical barriers, and unlock additional investment opportunities.' A national market survey conducted by MoIAT in 2023 highlighted the UAE's commitment to global best practices, revealing a 93% product compliance rate with UAE standards in local markets. This showcases the robustness of the country's quality infrastructure, enhances consumer confidence, and contributes to national economic growth. MoIAT will host the fourth edition of Make it in the Emirates, set to be the largest edition yet in terms of delegates, exhibitors, event space, and announcements. Scheduled for May 19-22, 2025, this edition will serve as a premier platform for local and regional investment, as well as industrial and technological cooperation. All local and international companies are invited to participate, and the event will showcase new incentives, enablers, and guaranteed purchasing opportunities under the National In-Country Value (ICV) Program.
Zawya
27-02-2025
- Business
- Zawya
Final event of the Global Eco-Industrial Parks Programme in Egypt
Cairo – As part of its ongoing efforts to achieve sustainable industrial development, the United Nations Industrial Development Organization (UNIDO), in collaboration with the Ministry of Industry, is holding the final event of the Global Eco-Industrial Parks Programme in Egypt (GEIPP-Egypt). The event aims to highlight the programme's key outcomes, including the promotion and mainstreaming of the Eco-Industrial Parks (EIP) approach in policies, identifying opportunities for their establishment, and initiating implementation to balance industrial development with environmental preservation while creating new economic opportunities. The event will be attended by a distinguished group of officials, stakeholders, and partners, including: Mr. Bernhard Soland, Deputy Head of Office for International Cooperation, Embassy of Switzerland Mr. Emad Abdelhameed, Assistant to the Minister for Developmental Projects and Financial Affairs, Developmental Projects Unit, Ministry of Industry Dr. Patrick Jean Gilabert, Representative of the United Nations Industrial Development Organization (UNIDO), Regional Office in Egypt The GEIPP-Egypt project, funded by the Swiss State Secretariat for Economic Affairs (SECO) and implemented by UNIDO in collaboration with the Ministry of Industry, aims to demonstrate the feasibility and benefits of eco-industrial parks in enhancing resource productivity and improving the economic, environmental, and social performance of industries. The project is being implemented in three industrial zones in Egypt: Orascom Industrial Park, Polaris Industrial Park, and the Robbiki Leather Clster. Key stakeholders also include the General Authority for the Suez Canal Economic Zone, the Industrial Development Authority, and the General Authority for Investment and Free Zones.
Zawya
17-02-2025
- Business
- Zawya
Sustainability, Green Finance among key strategic pillars of Abu Dhabi Commercial Bank – Egypt: CEO
Egypt - Ihab ElSewerky, CEO and Managing Director of Abu Dhabi Commercial Bank Egypt confirmed that sustainability and green finance are among the most important strategic pillars of the bank. The bank implements a sustainability plan that aligns with the Abu Dhabi Commercial Bank Group's strategy in the UAE. ElSewerky explained that this plan is based on three main pillars. The first is the customers, where the bank supports their transition to a green economy by offering innovative banking products, entering into partnerships with international organizations to provide them with technical support, and expanding financing for their sustainable projects. The second pillar focuses on society, through supporting and financing sustainable community projects and innovative entrepreneurs. The third pillar is the bank's internal operations, where the use of artificial intelligence and robotics in internal processes helps reduce the carbon footprint, enhance customer service levels, and improve energy efficiency and resource use, contributing to a positive environmental impact. Green Finance for Corporates ElSewerky noted that the bank has launched the first sustainable account in Egypt, specifically designed for businesses to manage their funds. Additionally, the bank introduced the Green Facility Program for corporate financing and cooperated with the United Nations Industrial Development Organization. These actions reflect the bank's commitment to activating international partnerships at this level to expand its sustainable finance portfolio and support its SME clients, believing that technical support is an essential catalyst to improve their efficiency, enhance competitiveness, and help them expand into new markets. Supporting the National Economy ElSewerky stated that Abu Dhabi Commercial Bank Egypt successfully contributed to several syndicated loans supporting the national economy and driving the growth plans of its clients. He pointed out that the syndicated loan portfolio reached EGP 6.4bn by the end of 2024, with significant activity in financing major projects. As a result, the bank achieved a 52% increase in its corporate financing portfolio compared to the previous year, and a 29% growth in corporate deposits for the same period. Retail Banking The retail banking sector also achieved significant growth, with the bank reaching a 36% increase in its customer base, driven by strong activity in banking services and products. The bank witnessed a 61% rise in individual deposits through offering a variety of accounts and savings instruments with competitive returns tailored to customer segments. The launch of the 'Double Your Money' campaign for savings accounts, supported by monthly cash prizes and a grand prize at the end of the competition under the supervision of the Ministry of Social Solidarity, contributed to a 43% increase in account balances compared to the previous year and attracted many new customers. According to ElSewerky, the bank recorded a 35% increase in individual loan balances and a 98% rise in the credit card portfolio by the end of 2024, compared to the previous year. He also emphasized that the bank has formed strategic partnerships to serve its individual clients and continues to offer innovative and comprehensive solutions that meet their needs and aspirations, aiming to become their preferred bank. Among these partnerships is an exclusive strategic agreement with VISA a world leader in digital payments, enabling the bank to continue offering innovative and secure payment solutions, giving customers more freedom and control over their payments. Additionally, the bank renewed its strategic partnership with Allianz Life Insurance – Egypt, which contributes to offering comprehensive insurance services and innovative value-added solutions to achieve customer satisfaction and strengthen the bank's position in the Egyptian market. Digital Services In terms of digital services, ElSewerky mentioned that the bank continues to implement its strategy for development and innovation to enhance the customer banking experience through alternative channels that align with global standards. He pointed out that the bank led the way in offering account opening services via a mobile app, which received the highest customer satisfaction ratings, increasing the number of electronic channel users to 72,000 by the end of 2024, a 33% increase compared to the previous year. Business Results Regarding business results and performance indicators at the end of 2024, ElSewerky stated that the bank achieved growth in all lines of business, recording a leap in net profits to EGP 4.27bn, reflecting a 109% increase compared to the previous year. He noted that this profit surge comes in parallel with the increase in total assets, which reached EGP 134.157bn, an increase of 37%, and the growth of lending and financing portfolios to EGP 56.026bn and deposits to EGP 116.504bn, an increase of 48% and 35% respectively, compared to the previous year. The total investment portfolio reached EGP 61.3bn, an increase of 27% over the same period. The bank also achieved a 48% increase in the return on average equity which reaches 38%, and a 54% growth in the return on average assets, which reaches 3.7%. Moreover, the bank managed to maintain efficiency and risk ratios that align with this growth. According to ElSewerky, these indicators reflect exceptional performance and the bank's success in executing its growth strategy and increasing its market share, while adhering to a commitment to excellence in customer service. The bank continues to play a vital role in supporting the national economy, applying best corporate governance practices, and integrating sustainability standards into its operations and plans. He added that these efforts led to the bank receiving numerous prestigious awards from prominent International financial institutions. ElSewerky noted that since the brand's launch in 2020, the bank has achieved remarkable growth and distinguished itself as the best new bank, excelling in providing services, products, and digital innovations that meet customer needs, while adhering to best governance practices and integrating sustainability standards into its strategy. He added, 'We are also pleased to contribute to supporting the national economy and community development by financing major and green projects and participating in financial inclusion and corporate social responsibility initiatives. These achievements affirm the strength of our strategy, which is based on customer satisfaction as a key driver of growth, providing an outstanding banking experience according to the Abu Dhabi Commercial Bank Group's business model in the UAE.' Security Standards ElSewerky stated that as part of the bank's strong commitment to applying the highest security standards and enhancing its dedication to providing an exceptional banking experience to achieve customer trust and satisfaction, Abu Dhabi Commercial Bank has obtained the latest version of the Payment Card Industry Data Security Standard (PCI-DSS), a globally recognized standard designed to ensure a secure environment for entities that process, store, or transmit credit card information, minimizing the risks of data breaches and protecting the bank and its customers. In an important step to accelerate the bank's digital transformation agenda, ElSewerky highlighted the bank's agreement with 'Network International,' a leading provider of digital commerce services in the Middle East and Africa, to use the 'FICO Falcon' fraud detection platform. This collaboration supports the bank's digital transformation strategy by providing the latest payment processing capabilities and fraud detection using artificial intelligence and machine learning analytics from FICO's leading platform in the sector. 23 Awards ElSewerky pointed out that Abu Dhabi Commercial Bank – Egypt was crowned with several prestigious awards from renowned financial institutions in 2024, in recognition of its outstanding performance at all levels. The bank received 23 awards in areas such as advanced services and products, digital transformation, innovation in digital services, best digital security frameworks, fraud detection, corporate governance, financial inclusion, and sustainable development. The bank also won the 'Best New Bank' award from World Business Outlook and International Business Magazine, in recognition of its strong financial performance indicators and sustainable growth, as well as the 'Emerging Financial Institution' award from Global Brands. The bank commenced 2025 by receiving the 'Top Employer' award from the global TOP EMPLOYER organization, a culmination of its ongoing efforts over the past years to create an outstanding work environment. According to ElSewerky, this certification is an acknowledgement of Abu Dhabi Commercial Bank – Egypt's status as a trusted employer, its pivotal role in providing an inclusive work environment that prioritizes its employees, and its commitment to supporting their needs and professional development to enable them to achieve excellence. This also reflects the bank's commitment to adopting leading human resources strategies and practices as an integral part of its broader strategy to implement the best corporate governance practices and achieve its vision of being the most preferred bank for its customers. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Daily News Egypt
16-02-2025
- Business
- Daily News Egypt
Sustainability, Green Finance Among Key Strategic Pillars of Abu Dhabi Commercial Bank – Egypt: CEO
Ihab ElSewerky, CEO and Managing Director of Abu Dhabi Commercial Bank Egypt confirmed that sustainability and green finance are among the most important strategic pillars of the bank. The bank implements a sustainability plan that aligns with the Abu Dhabi Commercial Bank Group's strategy in the UAE. ElSewerky explained that this plan is based on three main pillars. The first is the customers, where the bank supports their transition to a green economy by offering innovative banking products, entering into partnerships with international organizations to provide them with technical support, and expanding financing for their sustainable projects. The second pillar focuses on society, through supporting and financing sustainable community projects and innovative entrepreneurs. The third pillar is the bank's internal operations, where the use of artificial intelligence and robotics in internal processes helps reduce the carbon footprint, enhance customer service levels, and improve energy efficiency and resource use, contributing to a positive environmental impact. Green Finance for Corporates ElSewerky noted that the bank has launched the first sustainable account in Egypt, specifically designed for businesses to manage their funds. Additionally, the bank introduced the Green Facility Program for corporate financing and cooperated with the United Nations Industrial Development Organization. These actions reflect the bank's commitment to activating international partnerships at this level to expand its sustainable finance portfolio and support its SME clients, believing that technical support is an essential catalyst to improve their efficiency, enhance competitiveness, and help them expand into new markets. Supporting the National Economy ElSewerky stated that Abu Dhabi Commercial Bank Egypt successfully contributed to several syndicated loans supporting the national economy and driving the growth plans of its clients. He pointed out that the syndicated loan portfolio reached EGP 6.4bn by the end of 2024, with significant activity in financing major projects. As a result, the bank achieved a 52% increase in its corporate financing portfolio compared to the previous year, and a 29% growth in corporate deposits for the same period. Retail Banking The retail banking sector also achieved significant growth, with the bank reaching a 36% increase in its customer base, driven by strong activity in banking services and products. The bank witnessed a 61% rise in individual deposits through offering a variety of accounts and savings instruments with competitive returns tailored to customer segments. The launch of the 'Double Your Money' campaign for savings accounts, supported by monthly cash prizes and a grand prize at the end of the competition under the supervision of the Ministry of Social Solidarity, contributed to a 43% increase in account balances compared to the previous year and attracted many new customers. According to ElSewerky, the bank recorded a 35% increase in individual loan balances and a 98% rise in the credit card portfolio by the end of 2024, compared to the previous year. He also emphasized that the bank has formed strategic partnerships to serve its individual clients and continues to offer innovative and comprehensive solutions that meet their needs and aspirations, aiming to become their preferred bank. Among these partnerships is an exclusive strategic agreement with VISA a world leader in digital payments, enabling the bank to continue offering innovative and secure payment solutions, giving customers more freedom and control over their payments. Additionally, the bank renewed its strategic partnership with Allianz Life Insurance – Egypt, which contributes to offering comprehensive insurance services and innovative value-added solutions to achieve customer satisfaction and strengthen the bank's position in the Egyptian market. Digital Services In terms of digital services, ElSewerky mentioned that the bank continues to implement its strategy for development and innovation to enhance the customer banking experience through alternative channels that align with global standards. He pointed out that the bank led the way in offering account opening services via a mobile app, which received the highest customer satisfaction ratings, increasing the number of electronic channel users to 72,000 by the end of 2024, a 33% increase compared to the previous year. Business Results Regarding business results and performance indicators at the end of 2024, ElSewerky stated that the bank achieved growth in all lines of business, recording a leap in net profits to EGP 4.27bn, reflecting a 109% increase compared to the previous year. He noted that this profit surge comes in parallel with the increase in total assets, which reached EGP 134.157bn, an increase of 37%, and the growth of lending and financing portfolios to EGP 56.026bn and deposits to EGP 116.504bn, an increase of 48% and 35% respectively, compared to the previous year. The total investment portfolio reached EGP 61.3bn, an increase of 27% over the same period. The bank also achieved a 48% increase in the return on average equity which reaches 38%, and a 54% growth in the return on average assets, which reaches 3.7%. Moreover, the bank managed to maintain efficiency and risk ratios that align with this growth. Ihab ElSewerky According to ElSewerky, these indicators reflect exceptional performance and the bank's success in executing its growth strategy and increasing its market share, while adhering to a commitment to excellence in customer service. The bank continues to play a vital role in supporting the national economy, applying best corporate governance practices, and integrating sustainability standards into its operations and plans. He added that these efforts led to the bank receiving numerous prestigious awards from prominent International financial institutions. ElSewerky noted that since the brand's launch in 2020, the bank has achieved remarkable growth and distinguished itself as the best new bank, excelling in providing services, products, and digital innovations that meet customer needs, while adhering to best governance practices and integrating sustainability standards into its strategy. He added, 'We are also pleased to contribute to supporting the national economy and community development by financing major and green projects and participating in financial inclusion and corporate social responsibility initiatives. These achievements affirm the strength of our strategy, which is based on customer satisfaction as a key driver of growth, providing an outstanding banking experience according to the Abu Dhabi Commercial Bank Group's business model in the UAE.' Security Standards ElSewerky stated that as part of the bank's strong commitment to applying the highest security standards and enhancing its dedication to providing an exceptional banking experience to achieve customer trust and satisfaction, Abu Dhabi Commercial Bank has obtained the latest version of the Payment Card Industry Data Security Standard (PCI-DSS), a globally recognized standard designed to ensure a secure environment for entities that process, store, or transmit credit card information, minimizing the risks of data breaches and protecting the bank and its customers. In an important step to accelerate the bank's digital transformation agenda, ElSewerky highlighted the bank's agreement with 'Network International,' a leading provider of digital commerce services in the Middle East and Africa, to use the 'FICO Falcon' fraud detection platform. This collaboration supports the bank's digital transformation strategy by providing the latest payment processing capabilities and fraud detection using artificial intelligence and machine learning analytics from FICO's leading platform in the sector. 23 Awards ElSewerky pointed out that Abu Dhabi Commercial Bank – Egypt was crowned with several prestigious awards from renowned financial institutions in 2024, in recognition of its outstanding performance at all levels. The bank received 23 awards in areas such as advanced services and products, digital transformation, innovation in digital services, best digital security frameworks, fraud detection, corporate governance, financial inclusion, and sustainable development. The bank also won the 'Best New Bank' award from World Business Outlook and International Business Magazine, in recognition of its strong financial performance indicators and sustainable growth, as well as the 'Emerging Financial Institution' award from Global Brands. The bank commenced 2025 by receiving the 'Top Employer' award from the global TOP EMPLOYER organization, a culmination of its ongoing efforts over the past years to create an outstanding work environment. According to ElSewerky, this certification is an acknowledgement of Abu Dhabi Commercial Bank – Egypt's status as a trusted employer, its pivotal role in providing an inclusive work environment that prioritizes its employees, and its commitment to supporting their needs and professional development to enable them to achieve excellence. This also reflects the bank's commitment to adopting leading human resources strategies and practices as an integral part of its broader strategy to implement the best corporate governance practices and achieve its vision of being the most preferred bank for its customers.
