Announcement of Eighth Annual Class of Scholars Underscores Qalaa Holdings’ Commitment to Investing in the Future of Egypt

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Seventeen top Egyptian students to pursue graduate educations at elite universities abroad with scholarships from Citadel Capital Scholarship Foundation[1]; awards are conditional on recipients returning to Egypt to work post-graduation

The Citadel Capital Scholarship Foundation (CCSF)^*announced yesterday the names of its eighth annual class of scholars. The seventeen members of the 2014-15 class of Citadel Capital Scholars will pursue master’s-level studies at top internationaluniversities and institutes in Europe and the United States. As a condition of acceptance, the recipients of a CCSF scholarship pledge to return to Egypt to work in their chosen field following the completion of their studies.

The scholarship recipients were announced at a reception held on 23 June 2014 in the presence of theHead of Cultural Affairs and Missions Sector on behalf of the Minister of Higher Education, Egypt;the Ambassador of Kenya; the Ambassador ofMauritius; the Ambassador of Congo; theEconomic Attaché of the Netherlands; and arepresentative of the Embassy of the Republic of South Sudan. Also in attendance were representatives from AMIDEAST, CARE, and the United Nations Development Programme (UNDP), among others.

The CCSF is one of the largest private-sector-funded scholarship programs in Egypt; awards are open to scholars pursuing masters and doctoral degrees in all disciplines.

“The task of building a fair, vibrant and prosperous Egypt is a generational task, and one that is particularly relevant at this point in our nation’s history. We are honored to play a part not just by investing in these bright young men and women, but by serving as an example of how a private sector entity can help lead change,” said Ambassador Hussein El-Khazindar, Secretary General of the Board of Trusteesof the Citadel Capital Scholarship Foundation. By conditioning these awards on the scholars’ return to Egypt post-graduation, we are not just making a difference in the lives of 17 individuals, but of 17 communities.”

The CCSF was founded by Qalaa Holdings (formerly Citadel Capital), an African leader in infrastructure and industry, as a part of its commitment to sustainable education and human resource development in Egypt and across the region. The announcement of this year’s class of scholars brings to 122the number of talented young Egyptian men and women who have been granted scholarships to pursue graduate degrees.

“From nanotechnology to public policy, heritage conservation to political development, this year’s scholars are a remarkable group of talented young Egyptians who will help our nation tackle opportunities and challenges alike in the decade ahead. It is an honor to play a role in furthering their academic studies,” said Qalaa Holdings Chairman and Founder Ahmed Heikal.

Governorates represented by this year’s class include Fayoum, Alexandria and Cairo; students from 12 governorates have won CCSF Scholarships since the foundation was first endowed, studying in fields including medicine, engineering, architecture & design, telecommunications, environmental studies, molecular biology,economics, human rights, law, business, development and education. 

“We take a very wide view on what constitutes our duties as responsible investors,” said Qalaa Holdings Co-Founder and Managing Director Hisham El-Khazindar. “In that sense, we are careful to invest in education not for the direct benefit of our firm or our subsidiaries, but for the benefit of the communities in which we do business — be they major urban centers or rural areas.

“We believe across our footprint in the imperative of educational reform and funding — and that the private sector has a duty to both their nations and their shareholders to not just advocate for world-class education systems, but to also make direct contributions in any way they can,” El-Khazindar said.

In addition to supporting community-based vocational training initiatives at the subsidiary level, Qalaa Holdings has also endowed the Citadel Capital Services Center, while El-Khazindar has personally endowed the Khazindar Business Research and Case Studies Center, both at the American University in Cairo.Rift Valley Railways (RVR), the primary investment of Africa Railways, Qalaa Holdings’ subsidiary company for investment in the African railway sector, also offers training programs in management and entrepreneurship to further encourage sustainable development and private enterprise in the neighboring communities.

Recipients of Citadel Capital Scholarships have attended top international institutions including Harvard, Stanford, Duke, Wharton, Pratt, the University of Pennsylvania and Columbia universities in the United States; Oxford, Cambridge, the University of London, University College London, Imperial College Londonand the London School of Economics in the United Kingdom; Lund University in Sweden; University of Heidelberg in Germany; University of Helsinki in Finland;Ghent University in Belgium; and ESADE Business School in Spain,among other top universities and institutes. 

The 2014-15 Class of CCSF Scholars includes: