Latest news with #AbouEl-Soud
Daily News Egypt
4 days ago
- Business
- Daily News Egypt
ABE hosts South African trade union delegation to boost cooperation
Mohamed Abou El-Soud, CEO of the Agricultural Bank of Egypt (ABE), has welcomed a delegation from the South African Society of Bank Officials (SASBO), led by Tsitsi Maphatsoe, during their visit to Egypt. The visit aimed to strengthen bilateral relations and explore opportunities for joint cooperation. Also attending was Solaf Darwish, Deputy Chair of the House of Representatives' Manpower Committee and Chairperson of Egypt's Union for Bank, Insurance and Financial Sector Employees. The visit forms part of a joint cooperation programme between SASBO and the Egyptian General Union for Bank, Insurance and Financial Sector Employees, designed to promote the exchange of experience and deepen ties between the two unions. This visit marks the first of its kind in 14 years. Abou El-Soud affirmed the depth of historic ties between Egypt and South Africa across various sectors, in line with Egypt's broader policy of enhancing cooperation with African countries to support development across the continent. During the meeting, the CEO highlighted the banking and financial services offered by ABE, underlining the bank's developmental role in supporting the national economy and advancing sustainable agricultural development as part of the state's strategy to maximise returns from the agricultural sector. He stressed the vital role of trade union activity in the banking sector to foster a productive and supportive work environment that elevates professional performance. Abou El-Soud noted that ABE places significant emphasis on improving working conditions, as its experienced workforce is the cornerstone of the bank's ongoing development strategy. 'The bank has 20,000 success stories,' he remarked, referring to ABE's total number of employees. He explained that ABE is committed to providing support and incentives that ensure promising career progression for its staff, in line with the banking sector's evolving needs and the bank's strategic vision and objectives. He added that the bank maintains open channels of communication with its employee union representatives, who serve as a bridge between management and staff, ensuring compliance with labour laws and safeguarding workers' rights. In addition, ABE prioritises comprehensive employee care to foster a positive workplace culture and strengthen staff loyalty and engagement. Abou El-Soud also outlined that ABE is continuously implementing a comprehensive training strategy aimed at equipping its employees with the latest banking skills and knowledge to keep pace with global developments and best practices, thereby enhancing the bank's ability to deliver high-quality financial and banking services to its clients. Solaf Darwish reviewed recent developments in Egyptian labour legislation during the meeting, noting that the new labour law aligns with international standards and promotes a sustainable work environment. She highlighted that the bank's internal regulations demonstrate a commitment to social considerations, gender equality, and a balanced relationship between the general union and the bank. Darwish emphasised that Egyptian institutions, including ABE, are dedicated to aligning legislation with global trends to protect employee rights and improve internal work environments. Tsitsi Maphatsoe highlighted the significance of the visit, which offered the delegation valuable insights into ABE's approach and its efforts to strengthen relations between management and staff. He expressed keen interest in exploring future cooperation opportunities, especially in joint training initiatives and professional knowledge exchange across Africa. Maphatsoe also praised the clear harmony between the bank's leadership and its employees, and conveyed his gratitude to ABE's management for their warm hospitality.
Daily News Egypt
20-07-2025
- Business
- Daily News Egypt
ABE signs cooperation protocol to finance beneficiaries of state-owned lands in Minya
Mohamed Abou El-Soud, CEO of the Agricultural Bank of Egypt (ABE), met with Emad Kedwany, Governor of Minya, as part of a tour by the bank's executive management across Upper Egypt governorates. The visit aimed to strengthen collaboration with local authorities to advance agricultural development, empower farmers, and attract greater investment into the sector and its associated activities. It also aligns with national objectives for food security, sustainable development, and Egypt's Vision 2030. During the meeting, Abou El-Soud and Governor Kedwany signed a cooperation protocol to finance beneficiaries, farmers, and agricultural investors allocated land from state-owned assets. The initiative is designed to reinforce national efforts to enhance food security and establish new agricultural communities following the legalisation of previously informal landholdings. Under the protocol, ABE will provide a tailored package of facilitated financing to beneficiaries of legalised state-owned land, in accordance with its credit policies. This support includes funding for the purchase of agricultural production inputs, machinery and equipment, well drilling, and the installation of modern irrigation systems. The objective is to boost productivity among smallholder farmers, expand land reclamation, and maximise land value by formally integrating it into the national economy. As part of the visit, the two officials also attended a ceremony marking the delivery of 130 microbuses in Minya, under the second phase of a vehicle replacement initiative. This programme targets old pickup trucks previously used for passenger transport, replacing them with modern microbuses financed by the bank. The goal is to improve the public transport network in the governorate, offering safer, higher-quality services in rural villages and contributing to a better quality of life for residents. Abou El-Soud emphasised the importance of replacing outdated pickup trucks with safer microbuses to improve commuting between villages and cities. He noted that the programme is backed by accessible financing solutions featuring attractive benefits, low annual interest rates, and repayment over seven years in equal monthly instalments. He praised the strong cooperation between the bank and the governorate, highlighting their shared commitment to enhancing the bank's role in agricultural and rural development and improving living standards across Minya. He added that through this initiative, the bank offers unprecedented loan facilities and flexible terms that support social protection for vehicle owners, increase their income, and help them comply with traffic regulations and local directives. The broader aim is to gradually eliminate unsafe pickup trucks from passenger transport, providing residents with more secure and comfortable alternatives. Additionally, the environmental benefits are significant, as the new microbuses operate on dual fuel (natural gas and gasoline), aligning with Egypt's national strategy for cleaner energy and environmental sustainability. Governor Kedwany described the initiative as a transformative step for the public transport system in Minya, calling it the culmination of a comprehensive plan launched in February to modernise transport services. The project aims to provide residents of Minya with modern, safe, and dignified transportation options that safeguard their rights and wellbeing. He noted that the initiative is already showing positive results, with official figures indicating a 40% decrease in accident rates in recent months. Importantly, Minya recorded zero pickup truck-related accidents during April and May, following the enforcement of a ban on using such vehicles for passenger transport. Kedwany described this as clear evidence of the programme's success and its effectiveness in protecting lives.
