A Memorandum of Understanding was signed by Hassan Allam Holding, one of Egypt’s and the MENA region’s largest engineering, construction, investment, and development companies, and UK Export Finance (UKEF), the United Kingdom’s export credit agency, to increase collaboration on a number of projects throughout Africa.
In order to further secure inward investment into the UK, promote cooperation on financing projects, and encourage trade between the UK and Africa as a whole, the agreement, which was signed at the British Embassy in Cairo, aims to strengthen and enhance cooperation between UK Export Finance and Hassan Allam Holding.
Participants in the signing ceremony included:
British Ambassador to Egypt Gareth BayleyHassan Allam, the company’s chief executive officer, and Merette Elsayed, its chief commercial officerMohamed Saad, UKEF Egypt’s Director of Export FinanceAlastair Long, HMTC for Africa, His Majesty’s Acting Trade CommissionerAnisah Dathi, the head of the British Embassy’s department of international trade in Cairo
It is a tremendous joy to witness the signing of this Memorandum of Understanding between UK Export Finance and Hassan Allam Holding, which enhances our two countries’ collaboration across Africa, said British Ambassador to Egypt Gareth Bayley. We are proud of our connection with Hassan Allam Holding, one of the top companies in Egypt, which dates back to the company’s early years when it first began importing tiles from the UK. We are eager to carry on working together to increase commerce and prosperity between Egypt and the UK.
CEO of Hassan Allam Holding, Hassan Allam, stated: We are pleased to have signed a Memorandum of Understanding with UK Export Finance, which will develop a number of key projects, promote collaboration on project financing, and promote trade between the UK and the continent. Such key alliances demonstrate our dedication to completing large-scale projects across Africa.
I’m thrilled to sign a Memorandum of Understanding with Hassan Allam Holding Company, said Tim Reid, CEO of UK Export Finance. UKEF has supported initiatives that have improved local infrastructure and helped livelihoods in Egypt and other parts of Africa. We want to build on these successes, and this relationship will enable us to find new possibilities in the area where UK exporters can have a significant positive impact.
UKEF, which was founded in 1919 to aid British exporters and consumers of British goods and services, has recently made contributions to a number of significant initiatives in Egypt. The Cairo Monorail construction was supported by a £1.7 billion guarantee from UKEF in 2021, one of the largest finance commitments ever made by UKEF for an international infrastructure project. Additionally, £2 billion is available to fund additional initiatives in Egypt and throughout Africa, demonstrating UKEF’s dedication to the Egyptian market.
With more than 85 years of expertise in the engineering, construction, and infrastructure sectors, Hassan Allam Holding is one of the biggest businesses in Egypt and the MENA area. Specializing in engineering and construction as well as investment and development and taking solid strides in renewable energy, water, logistics, mobility, and social infrastructure.