CBE Supports Distinguished Student Cadres at Zewail City of Science, Technology, and Innovation

Within the framework of the Central Bank of Egypt’s proactive role in achieving development and sustainable corporate social responsibility, as well as improving society, and in continuation of CBE’s fruitful cooperation with Zewail City of Science, Technology and Innovation, the two sides discussed the CBE’s remarkable sponsorship for distinguished students, and funding scholarships in Zewail City.

In 2021, the Central Bank of Egypt approved the provision of 5-year educational scholarship to top achievers’ students at Zewail City of Science, Technology and Innovation, with a total cost around EGP 45 million, in accordance with the mandates of H.E. president, Abdel Fattah El-Sisi, to support the outstanding students and top achievers.

Mrs. Ghada Tawfik, the Governor’s Advisor for Corporate Social Responsibility, emphasized that “The Central Bank of Egypt is keen to direct the banking sector towards supporting corporate social responsibility projects, as well as enforcing the efforts aimed at achieving the sustainable development goals and Egypt's Vision 2030. We are content to the fruitful cooperation between the CBE and Zewail City, as it represents a role model for continuous development, sustainable corporate social responsibility, and successful integration between state entities to enhance the society.”

For his part, Mr. Mahmoud Abdrabou, the Acting Executive President for Zewail City of Science, Technology and Innovation, stated that “We are delighted with the banking sector’s support represented by the CBE, which offers – for the third consecutive year - scholarships to our distinguished students of Class 2021, and we extend our gratitude for the unwavering efforts and contributions of the Central Bank of Egypt aimed at enhancing our ability to qualify cadres to keep abreast of the knowledge-based economy in many areas of interest to the African continent and the Arab region.”

In the same context, a number of students from the Faculties of Science and Engineering, as well as alumni who own start-ups, showcased their success stories. Additionally, the Zewail City trophy was awarded to the Central Bank of Egypt, in appreciation of its role in supporting the City’s educational system.

Noteworthy, the cooperation between the Central Bank of Egypt and Zewail City provides broad prospects for enhancing the students and alumni’s competences through the “FinYology” initiative launched by the CBE in 2020, which facilitates qualifying the students for the FinTech industry, and helps alumni entrepreneurs to benefit from the “NilePreneurs” initiative launched by the CBE in 2019, as part of its partnership with the banking sector, a number of universities, and local and international entities. “NilePreneurs” initiative is aiming to provide technical support, as well as non-financial, and advisory services to entrepreneurs and owners of startups, micro, small, and medium enterprises.

The partnership with Zewail City comes in light of the priority assigned by the Central Bank of Egypt to support education, as part of its continuous endeavors to promote development projects and achieve sustainable corporate social responsibility. Worth noting that the CBE adopts a sustainable community strategy based on coordination with all banks to organize developmental community work within the sector, as well as following up on the sector’s contributions, ensuring that they are properly directed to achieve the targeted sustainable goals.