With the recent signatures, the Facility Investing for Employment (IFE) now has seven running projects in Egypt
The two new partner companies Rofayda Hospital and Luna Perfumes and Cosmetics applied for grants during the Call for Proposals “Women in Business”. The call had been launched by the Facility Investing for Employment (IFE) in November 2022 to support women entrepreneurs and women-led businesses and make financing available to projects that promote the employment of women. The grant agreements with the two Egyptian companies were signed on 11 November 2024 in Cairo.
The Facility will disburse its funding in a step-by-step process. Applicants will get access to the next tranche once they reach pre-defined milestones that are part of the grant agreement.
Al Rofayda Hospital for Women and Children will build two additional hospital wings in the Al Rofayda Health Park in Giza near Cairo. The investment phase will last until mid-2027. The first building will have 45 patient rooms. It will provide a comprehensive range of medical services and will have a state-of-the-art paediatrics department with services including cardiological, neurological, urological and other treatments. The second building will house a fully equipped rehabilitation centre, which will offer physiotherapy, occupational and speech therapy as well as aftercare for respiratory diseases. All three consortium partners involved in the investment project are majority-owned by entrepreneur Dr. Omaima Idris. The consortium leader’s top management is predominantly female (8 out of 15) and two out of three board members are women. Within two years after completion of the construction period, operations in the two new buildings will create around 857 new jobs, most of them for women.
Steffen Kuhl, Managing Director of IFE, welcomed the plans and said: “Investing in human capital helps bridge the gap between the growing population and the evolving market needs, improving both the quality of work and employee conditions, in addition to empowering Egyptian women and emphasising their role in social development.”
Dr. Omaima Idris, Chairwoman of the Board of Directors of Al Rofayda Hospital, and Eng. Rania George, CEO of Luna Perfumes and Cosmetics, during a podium discussion. Photo: IFE
Luna Perfumes and Cosmetics is based in Cairo and manufactures sun creams, shower gels, hair care products and other cosmetics. To increase sales, Luna Perfumes will contract distribution partners in all 26 governorates of the country. They will provide storage and transport capacities and undertake to employ qualified personnel to sell their products. In a next step, Luna Cosmetics will build a logistics centre in Giza. A dedicated fleet of vehicles will ensure deliveries to sales partners from there. The company plans to create around 450 new jobs as part of the expansion, around half of them for women. IFE subsidises the investment project.
Eng. Rania George, CEO of Luna Perfumes and Cosmetics, welcomed the cooperation and said: "We are pleased to sign the grant agreement with IFE. The grant of EUR 3.16 million is equivalent to approximately 34 per cent of the total investment cost of the project This cooperation will directly contribute to the establishment of good employment opportunities in our new logistics hub and equip it with the latest technology.”
Ribbon cutting at the new workshop of the Ghabbour Foundation for Development. Photo: IFE
The IFE grantee Ghabbour Foundation for Development, together with consortium partner ITAMCO, constructed state-of-the-art workshops with modern equipment to train prospective mechanics in latest technologies in electric vehicle and commercial vehicle maintenance, as well as eco-friendly painting techniques. Young people who are already studying at one of the vocational schools of the Ghabbour Foundation, as well as qualified engineers and technicians, will have the opportunity to qualify for jobs in the emerging electric vehicle industry. The Ghabbour Foundation used and IFE grant that it received in 2023, to co-finance the construction of the new workshop.
During a ceremony that was attended by Dr. Veronika Ulbert, Head of Division “Decent Work” and the Special Initiative “Decent Work for a Just Transition” at the German Federal Ministry for Economic Cooperation and Development (BMZ), Dr. George Sedky, Secretary-General of the Ghabbour Foundation, shared his aspirations: “This project is a golden opportunity to boost production and prepare Egyptian youth for the labour market. Through this partnership, we will train and employ 10 specialised trainers in automotive maintenance, and within three years, we aim to have more than 700 individuals participate in this training.”