Egypt’s Qalaa Holdings (formerly Citadel Capital) has announced its membership in the United Nations Global Compact, the world’s largest voluntary corporate social responsibility initiative. The group is in the process of aligning its business operations with the UNGC’s Ten Principles, which will become part of the company’s day-to-day operations.
"This new participation moves in tandem with our efforts to align our corporate governance framework with a responsible investment philosophy and global best of breed practices," said Ahmed Heikal, Qalaa Holdings' Founder and Chairman. "Adopting the UNGC's established and globally recognised policy framework for the development, implementation, and disclosure of environmental, social, and governance policies and practices compliments our belief that developing the communities in which we do business is our fundamental duty," he added.
Qalaa Holdings, which owns ASEC Cement, joins the vast network of UNGC organisations and companies, providing Qalaa Holdings with a pool of ideas and recommendations to help promote sustainable development across its footprint, in addition to granting access to the United Nation's extensive knowledge of and experience with sustainability and development issues.
"We are excited about what this exchange of ideas between Qalaa Holdings and other global UNGC participants will yield," said Hisham El-Khazindar, Co-Founder and Managing Director of Qalaa Holdings. "We look forward to sharing our best and emerging market practices to advance practical solutions and strategies for social, economic and environmental challenges in Africa and the countries where we operate," he added.
"Our membership encapsulates our corporate citizenship strategy as well as our focus on education and human capital development," said Ghada Hammouda, Qalaa Holdings CMO & Head of Marketing Communications. "The Qalaa Holdings Scholarship Foundation has grown into one of Egypt's largest private-sector funded scholarship programs. So far, the Foundation has assisted 122 of Egypt's most talented and promising students to achieve their potential by providing them with the opportunity to pursue graduate studies at some of the world's most prestigious universities."
Qalaa Holdings joins other cement companies, including Cemex, Titan Cement and Holcim, who are also members of the UNGC.
Adapted from press release by Katherine Guenioui
Read the article online at: https://www.worldcement.com/africa-middle-east/14102014/qalaa-holdings-joins-united-nations-global-compact-660/