logo
Majra-National CSR Fund launches first ever ‘Sustainable Impact Challenge' to showcase transformative CSR initiatives in the UAE

Majra-National CSR Fund launches first ever ‘Sustainable Impact Challenge' to showcase transformative CSR initiatives in the UAE

Mid East Info28-02-2025

Majra – National CSR Fund launched the premier edition of its 'Sustainable Impact Challenge' in the UAE during 'Investopia 2025'. The trailblazing initiative was launched under the patronage of H.E. Abdulla bin Touq Al Marri, Minister of Economy and Chairman of Majra's Board of Trustees, in the presence of H.E. Abdullah Al Saleh, Undersecretary of the Ministry of Economy and Vice Chairman of the Board of Trustees of Majra, alongside Sarah Shaw, Executive Director of Majra. The initiative aims to showcase and honour impactful corporate social responsibility (CSR) initiatives, reaffirming Majra's unwavering commitment to driving sustainable national development in key priority sectors.
H.E. Abdullah Al Saleh said: 'Guided by the directives of our wise leadership, the UAE has adopted a highly progressive and forward-thinking approach to development, with a specific emphasis on advancing key Sustainable Development Goals (SDGs) through initiatives such as 'Green Agenda 2030'. Innovative ventures such as the 'Sustainable Impact Challenge' can help us achieve these goals much faster, while positioning the UAE as a global hub for innovation and responsible business practices.'
His Excellency further stated: 'As a leading federal entity, Majra remains steadfast in its efforts to foster a dynamic ecosystem where businesses can flourish and create lasting impact. Moreover, by identifying and empowering organisations committed to sustainability, Majra strives to consolidate the UAE's pioneering stature as a beacon of progress and sustainable growth. In line with this, we invite all eligible companies and third-sector organisations to take part in this unique initiative, paving the way for a more resilient future.'
The one-of-its-kind endeavour will serve as a dynamic platform for organisations to showcase their key sustainability projects and CSR efforts, bolstering Majra's pioneering role in supporting sustainable growth. The competition is open to companies of various sizes, from large enterprises to SMEs, and third-sector institutions, offering a cumulative cash prize of AED 600,000 to shortlisted projects that have made a positive impact. The challenge also encourages active public participation since the winners are determined based on both public opinion and expert evaluations.
For her part, Sarah Shaw added: 'We are pleased to introduce the 'Sustainable Impact Challenge' which demonstrates our ongoing efforts to empower organisations that are driving positive transformation through exemplary CSR and sustainability initiatives. It also reflects our vision to advance sustainable impact investments, catalysing the nation's broader economic transformation. We invite all qualified organisations to seize this exciting opportunity and showcase their notable initiatives focused on advancing sustainability.'
Majra's participation in 'Investopia 2025' falls under the long-standing federal vision to foster a sustainability-centric corporate culture in the UAE. Moreover, Majra aims to equip institutions with the critical tools and resources needed to drive positive change through its new initiative. Such innovative ventures play a crucial role in supporting the UAE's sustainable development journey, while also increasing sustainable impact investments.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Egypt jumps to 9th in global FDI rankings as Africa sees rebound
Egypt jumps to 9th in global FDI rankings as Africa sees rebound

Daily News Egypt

time3 days ago

  • Daily News Egypt

Egypt jumps to 9th in global FDI rankings as Africa sees rebound

Egypt's foreign direct investment (FDI) surged in 2024, making it the ninth-largest recipient globally and the main driver of a rebound in investment across Africa, according to a UN report launched in Cairo on Thursday. The World Investment Report 2025 from UN Trade and Development (UNCTAD) showed that Egypt's performance contrasted with a second consecutive annual decline in global FDI when excluding volatile financial flows. The global outlook for 2025 remains negative amid heightened investor uncertainty. FDI inflows to Africa rebounded by 75% in 2024 to $97bn, largely due to flows into Egypt. This increased the continent's share of global FDI to 6% from 4% the previous year, and its share of developing-country inflows to 11% from 6%. Egypt was identified as the primary driver of this turnaround, with a mega-project in urban development at Ras El-Hekma being a significant contributor. Globally, FDI rose 4% in 2024 to $1.5 trillion, but UNCTAD noted this headline figure was inflated by volatile flows through conduit economies. When these are excluded, global FDI registered an 11% decline. The report also found that investment in sectors related to the Sustainable Development Goals (SDGs) in developing countries fell by 25–33% across infrastructure, renewable energy, water and sanitation, and agrifood systems. Only the health sector saw growth, though from a small base. 'This year's findings call for renewed efforts to mobilize private investment for sustainable development, especially in economies facing structural constraints,' said Richard Bolwijn, Director of UNCTAD's Investment Research Branch. While Africa experienced an overall FDI rebound, the report detailed a mixed picture across the continent. Announced greenfield projects fell in both number, by 5%, and value, by 37%, in most countries. Cross-border mergers and acquisitions turned negative, resulting in net divestments of $1.5bn compared with net investments of $9.5bn in 2023. However, announced international project-finance deals in Africa increased in value by 15%, boosted by a megaproject in Egypt, even as the number of such deals dipped by 3%. In Egypt, which jumped from 32nd to 9th place among global FDI recipients, project-finance commitments doubled, supported by large-scale investments in energy and transport infrastructure. The country also defied the continent-wide decline in announced greenfield projects. The report identified North Africa, led by Egypt, as the main growth engine for FDI on the continent. The findings were presented at an event hosted by the Government of Egypt to mark the report's launch. 'In a year marked by shifting global investment patterns, Egypt's consistent presence on the investment landscape, as captured in the World Investment Report, comes as we double down on an ambitious reform agenda that places industrial production, exports, and foreign direct investment at the heart of our economic development model,' said Dr Rania Al-Mashat, Egypt's Minister of Planning, Economic Development & International Cooperation. 'Our focus remains clear: unleashing private sector potential through structural reforms that foster quality growth and resilience by driving job creation, boosting productivity and increasing value-added.' Eng Hassan Elkhatib, Minister of Investment and Foreign Trade, added: 'Egypt is writing a new investment narrative, coupling deep structural reforms and clear, predictable policies with a competitive, transparent business climate and a dynamic private sector. This vision reinforces Egypt's growing role in the regional and global investment landscape, transforming the country into a hub of opportunity and connectivity.' The report also examined policy trends, finding that the number of investment policy measures reached its second-highest level on record in 2024, at 174. Of these, 78% were favourable to investors, although many were shaped by geopolitical and industrial-policy objectives. In the digital economy, the report noted that investment is expanding rapidly but remains highly concentrated, with data centres and fintech attracting most of the flows and leaving significant regional gaps. The launch event in Cairo included a technical briefing on the report's findings and a discussion with representatives from the private sector, international organisations and academia.

Egypt secures $15.6bn in concessional financing for private sector since 2020: El-Mashat
Egypt secures $15.6bn in concessional financing for private sector since 2020: El-Mashat

Daily News Egypt

time7 days ago

  • Daily News Egypt

Egypt secures $15.6bn in concessional financing for private sector since 2020: El-Mashat

Minister of Planning, Economic Development, and International Cooperation Rania El-Mashat announced during the 'Development Finance to Foster Private Sector-Led Growth & Jobs' conference that concessional development financing for Egypt's private sector reached $15.6bn between 2020 and May 2025. This financing was provided through more than 30 bilateral and multilateral development partners, with banks and financial institutions accounting for 40% of the total. El-Mashat emphasized that the conference reflects Egypt's strategic shift toward a private-sector-led economy based on competitiveness, partnerships, and sustainability. She highlighted the critical role of development finance in boosting private investment and job creation. The government continues to implement a structural reform agenda focused on macroeconomic stability, enhanced competitiveness, a stronger investment climate, and advancing green transformation efforts. El-Mashat noted that the annual global financing gap to achieve the Sustainable Development Goals (SDGs) is estimated at $4 trillion, according to the UN's 2024 data. However, private sector mobilization through development finance remains below $70bn, based on OECD figures—underscoring the urgent need to scale up such financing. To help bridge this gap, the ministry launched a comprehensive economic diplomacy framework in 2020 to deepen cooperation with international financial institutions and expand the use of innovative financial tools targeting all segments of the private sector—including large corporations, SMEs, microenterprises, startups, and entrepreneurs. In response to the need for clearer communication and coordination between development partners and the private sector, the ministry also introduced the 'Hafiz' platform. The platform provides over 90 services and lists more than 1,000 local and international opportunities, positioning itself as a key entry point for partnerships and technical support. These combined efforts have facilitated development projects across multiple sectors, with total development financing exceeding $15.6bn since 2020. In addition, technical support projects valued at more than $200 million have delivered advisory services, technology transfer, and training to build private sector capacity and broaden market access. One of the notable outcomes includes the acceleration of PPP project implementation—reducing preparation timelines from one year to just two months—thanks to secured funding for feasibility studies and the appointment of legal, technical, and financial consultants. Banks and financial institutions have received over 40% of the total development finance since 2020, while renewable energy, electricity, and logistics sectors together accounted for more than 25%. El-Mashat also announced that Egypt has been selected by the Climate Investment Funds (CIF) as one of only seven countries globally to benefit from its Green Industry Program, which will provide $1bn in concessional financing and technical support to drive green industrial investment. Additionally, she introduced a new coordination mechanism for the European Fund for Sustainable Development Plus (EFSD+), which will offer project guarantees worth €1.8bn. These guarantees, provided through institutions such as the European Investment Bank (EIB), the EBRD, the German Development Bank (KfW), the IFC, and others, aim to attract greater private investment in sectors including renewable energy, food security, human capital, and infrastructure. The minister further noted that Egypt is working to strengthen South-South cooperation and expand market access for Egyptian companies through concessional financing and joint initiatives with partner countries, reinforcing Egypt's emerging role as a regional development and investment hub in Africa. She also revealed that preparations are underway to launch Egypt's national economic development narrative, in collaboration with the World Bank Group. This narrative will define key reform priorities to enhance exports, support local industries, and attract foreign direct investment, thereby contributing to long-term economic stability. €1.8bn Investment Guarantee Mechanism Launched During the conference, Egypt and the European Union unveiled a new €1.8bn Investment Guarantee Mechanism under the EFSD+ initiative. Part of the EU's broader External Investment Plan, the EFSD+ platform seeks to enhance sustainable investment in partner countries, including Egypt. It promotes greater private sector participation by offering innovative financial tools such as guarantees, concessional loans, and blended finance instruments to reduce investment risks and encourage engagement in key sectors like water, energy, agriculture, climate, infrastructure, and digitalization. El-Mashat stated that the mechanism represents a shared commitment between Egypt and the EU to deepen private sector involvement in development. Companies will be able to access investment guarantees through the 'Hafiz' platform, which also offers concessional financing via partner banks, EU-backed risk guarantees, technical assistance, and opportunities in infrastructure and green projects supported by the EU. The guarantee mechanism is supported by key international financial institutions, including the EIB, EBRD, KfW, IFC, and Italy's CDP. These partnerships aim to increase concessional development financing to Egypt's private sector across strategic sectors. Stefano Sannino, Director-General for the Southern Neighbourhood and Middle East at the European Commission, described the initiative as a strategic platform to unlock diverse financial solutions and catalyze investment in Egypt. Under the 'Team Europe' framework, the EU aims to position itself as a long-term economic partner in Egypt's sustainable development. The mechanism is expected to mobilize up to €5bn in public and private investments between 2024 and 2027. $4.2bn in Development Finance Mobilized in 2024 According to the Ministry's Development Financing for Private Sector Empowerment report, Egypt's private sector received over $4.2bn in development financing in 2024—surpassing, for the first time, financing directed to the public sector. This signals a growing shift among development partners toward empowering the private sector as a key driver of the SDGs. From January to May 2025, financing reached $1.14bn, reinforcing expectations of sustained momentum. In total, development financing to the private sector between 2020 and May 2025 amounted to approximately $15.6bn, supported by more than 30 development partners. The European Bank for Reconstruction and Development (EBRD) led all contributors, accounting for 22% of the total. The European Investment Bank (EIB) followed with 21%, reflecting the significant role of European development partners—both bilateral and multilateral—in financing infrastructure and supporting private sector growth in Egypt. Together, European partners have provided approximately $7.3bn, or 47% of the total. The IFC ranked third with a 19% share, underscoring its focus on supporting SMEs and fostering direct investment.

Majra – National CSR Fund honours top 20 CSR projects at inaugural Sustainable Impact Challenge 2025 - Middle East Business News and Information
Majra – National CSR Fund honours top 20 CSR projects at inaugural Sustainable Impact Challenge 2025 - Middle East Business News and Information

Mid East Info

time04-06-2025

  • Mid East Info

Majra – National CSR Fund honours top 20 CSR projects at inaugural Sustainable Impact Challenge 2025 - Middle East Business News and Information

H.E. Bin Touq: The UAE is deeply committed toward developing national initiatives that promote the values of social responsibility, and the 'Sustainable Impact Challenge' embodies our vision of encouraging responsible business practices The event witnessed several sessions and meetings that discussed a range of topics, including: Barriers that hinder the advancement of social responsibility in the UAE and the need for stronger regulatory frameworks to adopt CSR initiatives across the private sector. The importance of supporting public-private collaborations in developing the impact economy and promoting sustainable and comprehensive development. UAE, June, 2025: MAJRA – National CSR Fund recognised the top three winning projects and honoured 17 other initiatives shortlisted for the inaugural edition of Sustainable Impact Challenge 2025, during a prestigious awards ceremony held at the SEE Institute in The Sustainable City, Dubai. Held under the patronage and in the presence of H.E. Abdulla bin Touq Al Marri, Minister of Economy and Chairman of Majra's Board of Trustees, alongside prominent figures, such as H.E. Hessa Bint Essa Buhumaid, Director General of the Community Development Authority, the event celebrated innovative initiatives that created tangible impact in the nation's sustainability landscape. H.E. Abdulla bin Touq Al Marri said: 'The UAE is deeply committed toward developing national strategies and programs that uphold social responsibility and encourage sustainable practices across all sectors. At Majra, we are pleased to play a key role in this effort by fostering collaboration and building strong partnerships with the private sector. The launch of the first edition of the Sustainable Impact Challenge, which will be held annually, reflects our mission to instil corporate CSR values and nurture a culture of sustainable development. Through this initiative, we aim to support impactful private sector projects that align with the national agenda, contribute to the achievement of the Sustainable Development Goals (SDGs), and promote responsible business practices. This is in line with our broader commitment to shaping a more resilient and sustainable future in accordance with the 'We the UAE 2031' vision.' The Sustainable Impact Challenge is a national platform designed to identify and celebrate outstanding CSR initiatives led by private sector companies, third-sector organisations, universities, and other institutions. It reflects Majra's firm dedication to empowering these vital contributors and directing their efforts toward sustainable development. By recognising impactful initiatives, the Challenge further supports the UAE's broader national drive to achieve the Sustainable Development Goals (SDGs) and promotes the adoption of CSR and sustainability practices across all major sectors. In her speech, H.E. Hessa Buhumaid affirmed the pivotal role played by Majra through the launching of such CSR initiatives and the identification of effective private sector leadership that would enhance social impact. H.E. highlighted the importance of this Challenge as the first initiative showcasing projects with significant environmental, economic, and social impact in conjunction with the prestigious 'Year of Community' program. Her Excellency praised the efforts of the third sector in providing valuable contributions and actively tackling social, environmental, and economic issues. The top three winners included HeroGo, for its project 'Empowering the GCC to access better quality and more affordable groceries while eliminating food waste'; Thiqa Education's '1 Dirham makes an impact' initiative; and Distant Imagery Solutions' 'Rooted in Innovation UAE Engineered Drones Transform Mangrove Restoration' initiative. Together, they were awarded a total cash prize of AED 600,000 in recognition of their exceptional contributions to sustainable development in the UAE. Additionally, the other shortlisted sustainability initiatives were acknowledged for their outstanding efforts and given the opportunity to showcase their project outcomes. Sarah Shaw, CEO of Majra, said: 'We are delighted to identify and honour the innovative, impactful projects through the Sustainable Impact Challenge 2025. These initiatives highlight the pivotal role of private sector firms in driving sustainable change. At Majra, we look forward to relentlessly supporting such efforts that contribute to the UAE's vision for a sustainable, inclusive and resilient future.' On the sidelines of the event, several sessions and meetings were held to reinforce Majra's lead role in fostering sustainability in various industries. A key session at the event featured H.E. Abdullah Al Saleh, Undersecretary of the Ministry of Economy and Vice Chairman of Majra's Board of Trustees, along with undersecretaries from five ministries to discuss the main challenges that hinder the advancement of social responsibility in the UAE. Key issues highlighted included the lack of opportunities that encourage private sector involvement, ongoing environmental hurdles and ways to find adequate solutions, and the need for stronger regulatory frameworks that require organisations to implement CSR practices. Another key session titled, 'The Role of Public, Private and Third Sector in Developing an Impact Economy,' explored the importance of cross-sector collaboration in building a sustainable economy. The panel featured thought leaders including Dr. Habiba Al Marashi, Chairperson and Co-Founder, Emirates Environmental Group, Chandran Nair, Founder and CEO, Global Institute For Tomorrow (GIFT) and H.E. Maysa Al Nowais, Executive Director – Community Engagement and Volunteering, Social Contributions Authority – Ma'an. The session was moderated by Mohammed Hanif Al Qassim. The event also hosted the inaugural meeting of the Fashion Sustainability Taskforce, held in the presence of H.E. Abdulla bin Touq Al Marri. The meeting laid the groundwork for future collaboration and set the direction for a unified roadmap to promote sustainability within the fashion industry. The Sustainable Impact Challenge 2025 stands as a testament to Majra's unwavering commitment towards establishing a thriving ecosystem that encourages and supports CSR initiatives in line with the UAE's strategic development goals.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store