Al Baraka Bank Egypt & Elsewedy University of Technology (SUTech) – Polytechnic of Egypt

Cairo, September 2025

Al Baraka Bank Egypt and Elsewedy University of Technology (SUTech) – Polytechnic of Egypt have announced the signing of a memorandum of understanding (MOU) aimed at providing partial scholarships to university students worth EGP 20 million, funded by Al Baraka Bank Egypt, to cover tuition fees for financially and academically outstanding students in need for the academic year 2025/26. This collaboration reflects a shared strategy between the two institutions to promote world-class education in the field of Technology and to empower students to continue their academic journeys without financial barriers.

The four-year agreement was signed by Mr. Hazem Hegazy, CEO and Vice Chairman of Al Baraka Bank Egypt, and Eng. Ahmed Elsewedy, Chairman of the Board of Trustees of Elsewedy University of Technology (SUTech)—Polytechnic of Egypt, at Elsewedy Electric headquarters in New Cairo. The signing ceremony was also attended by Mr. Sherif Ezzat, Head of Marketing and Corporate Communications at Al Baraka Bank Egypt; Mrs. Hanan ElRihany, CEO of Elsewedy EDTECH; Prof. Dr. Ahmed Hassan Youssef, President of Elsewedy University of Technology (SUTech) ;along with a distinguished gathering of senior leaders from both institutions.

This collaboration underscores Al Baraka Bank’s commitment to providing the financial support necessary to empower students, through partial scholarships covering between 10% and 90% of tuition fees. For its part, Elsewedy University of Technology (SUTech) – Polytechnic of Egypt continues to deliver top-tier academic programs that qualify students to earn a Professional Bachelor’s Degree in Engineering Technology and prepare them to enter both local and international labor markets. The agreement also stipulates that one of the university classrooms will be named “Al Baraka Bank” for a period of ten years, symbolizing the long-term partnership between the two institutions in facilitating students’ educational journeys.

On this occasion,Mr. Hazem Hegazy, CEO and Vice Chairman of Al Baraka Bank Egypt, stated: “We are pleased to collaborate with Elsewedy University of Technology (SUTech) – Polytechnic of Egypt, the first polytechnic university in Egypt, by covering the tuition fees of 104 students, in an attempt to prepare professionally qualified talents for the job market. At Al Baraka Bank Egypt, education lies at the heart of our corporate social responsibility strategy, as we believe that investing in young minds is the true investment in Egypt’s future. Through this shared vision, we are opening wider horizons for outstanding students, empowering them to pursue their academic journey with ambition and in line with industry needs.”

Commenting on this partnership, Eng. Ahmed ElSewedy, Chairman of the Board of Trustees of Elsewedy University of Technology(SUTech)—Polytechnic of Egypt, said: “Since the establishment of the university, we have been driven by a clear goal: bridging the gap between industry requirements and higher education outcomes by preparing graduates who are well-qualified for both local and global labor markets. We have sought to achieve this through academic partnerships with world-renowned universities across multiple disciplines, in addition to close collaborations with leading companies in various industrial sectors. Today, we are proud of our partnership with Al Baraka Bank Egypt, which enables us to provide students with greater opportunities to achieve their aspirations, ensuring equal opportunities and equality for all.”

It is worth noting that this collaboration builds on a fruitful partnership between Al Baraka Bank Egypt and Elsewedy University of Technology (SUTech) – Polytechnic of Egypt. Previously, they have worked together to establish a state-of-the-art computer laboratory named after the bank. This new initiative exemplifies the longstanding commitment of both institutions to advancing the educational and technological landscape and to empowering students to meet the demands of the labor market.

Elsewedy University of Technology– (SUTech) – Polytechnic of Egypt

Elsewedy University of Technology – (SUTech), is the first leading Polytechnic University in Egypt that is committed to aligning with the fast-paced developments and addressing the dynamic demands of the industry in this field. “SUTech” is the first university to offer a 4-year bachelor’s degree in Technology (B.Tech) in an integrated set of practical and theoretical learning that is in line with the market needs.

Pursuing the international polytechnic educational model of “SUTech” shall provide students with practical skills, industry partnerships, and employability advancement. Graduates have advanced job prospects as they are sought after by employers due to their practical skills and industry experience.

“SUTech” provides education in more than 19 accredited programs that are developed in consultation with industry leaders. SU Tech applies practical education in laboratories, workshops, training, and internships to the theoretical studies that allow graduates to immediately join the local and global labor force.

Through its collaboration with the Indian Amity University Dubai branch, SUTech will be pioneering Higher Education in Egypt with the leading Worldwide Indian model.