Cairo, Egypt, May 6, 2018—IFC,
a member of the World Bank Group, and Daltex, a leading agribusiness producer
in Egypt, signed a Memorandum of Understanding today to increase economic
opportunities for its women employees and smallholder farmers.
IFC’s advisory team will work with
Daltex, which produces fresh fruit and vegetables, to help identify commercially
viable, sustainable solutions to increase the share and retention of women
workers in select Daltex-owned farms and packaging facilities, and women
farmers and smallholders in its value chain. The aim is to generate employment
and income streams for these women by integrating them in Daltex operations.
“Including women and men throughout
our operations allows us to tap into a much wider and more diverse pool
of resources, whether in terms of our employees, farmers or even business
partners that we do business with. This is part of our broader business
strategy to grow production, reach new markets and create opportunities
for our communities,” said Hesham El Naggar, Daltex CEO.
In Egypt, women represent just over
13 percent of permanent full-time workers and about 18 percent of business
owners. Only five percent of Egypt’s firms are led by a female executive
and they earn on average about 22 percent less than their male counterparts.
Closing these gaps could help Egypt increase its gross domestic product
by over 30 percent.
“Creating economic opportunities for
women in key sectors such as agribusiness is one of IFC’s strategic focus
areas,” said Sérgio Pimenta, IFC Vice President for the Middle East and
Africa. “Investing in women is not only essential for economic growth,
but it’s also good for the economy. Companies that attract and retain
female employees have a wider and better talent pool.”
IFC’s commitment to advancing gender
equality is anchored in a strong
business case and in client demand
solutions, which has significantly
grown over the past several years. IFC investee companies in the Middle
East and North Africa have generated more than 120,000 jobs for women over
the past decade. IFC is also investing in banks for on-lending to women-owned
SMEs through its Women Entrepreneurs Opportunity Facility.
Founded in 1964, Daltex is a leading
Egyptian grower and exporter of fresh fruits and vegetables. Currently,
we operate farms in 12 different areas all over Egypt and market our products
to major supermarket chains and retail clients in more than 60 markets
worldwide. Stemming from our belief in human value, we strive to develop
calibers' abilities to uphold the finer values of society, protect environmental
sustainability, and achieve economic prosperity. For more information,
IFC—a sister organization of the World Bank and member of the World Bank
Group—is the largest global development institution focused on the private
sector in emerging markets. We work with more than 2,000 businesses worldwide,
using our capital, expertise, and influence to create markets and opportunities
in the toughest areas of the world. In FY17, we delivered a record $19.3
billion in long-term financing for developing countries, leveraging the
power of the private sector to help end poverty and boost shared prosperity.
For more information, visit www.ifc.org