Mohamed Abou El-Soud, CEO of the Agricultural Bank of Egypt (ABE), has welcomed a delegation from the South African Society of Bank Officials (SASBO), led by Tsitsi Maphatsoe, during their visit to Egypt. The visit aimed to strengthen bilateral relations and explore opportunities for joint cooperation. Also attending was Solaf Darwish, Deputy Chair of the House of Representatives’ Manpower Committee and Chairperson of Egypt’s Union for Bank, Insurance and Financial Sector Employees.
The visit forms part of a joint cooperation programme between SASBO and the Egyptian General Union for Bank, Insurance and Financial Sector Employees, designed to promote the exchange of experience and deepen ties between the two unions. This visit marks the first of its kind in 14 years.
Abou El-Soud affirmed the depth of historic ties between Egypt and South Africa across various sectors, in line with Egypt’s broader policy of enhancing cooperation with African countries to support development across the continent.
During the meeting, the CEO highlighted the banking and financial services offered by ABE, underlining the bank’s developmental role in supporting the national economy and advancing sustainable agricultural development as part of the state’s strategy to maximise returns from the agricultural sector.
He stressed the vital role of trade union activity in the banking sector to foster a productive and supportive work environment that elevates professional performance. Abou El-Soud noted that ABE places significant emphasis on improving working conditions, as its experienced workforce is the cornerstone of the bank’s ongoing development strategy. “The bank has 20,000 success stories,” he remarked, referring to ABE’s total number of employees.
He explained that ABE is committed to providing support and incentives that ensure promising career progression for its staff, in line with the banking sector’s evolving needs and the bank’s strategic vision and objectives. He added that the bank maintains open channels of communication with its employee union representatives, who serve as a bridge between management and staff, ensuring compliance with labour laws and safeguarding workers’ rights. In addition, ABE prioritises comprehensive employee care to foster a positive workplace culture and strengthen staff loyalty and engagement.
Abou El-Soud also outlined that ABE is continuously implementing a comprehensive training strategy aimed at equipping its employees with the latest banking skills and knowledge to keep pace with global developments and best practices, thereby enhancing the bank’s ability to deliver high-quality financial and banking services to its clients.
Solaf Darwish reviewed recent developments in Egyptian labour legislation during the meeting, noting that the new labour law aligns with international standards and promotes a sustainable work environment. She highlighted that the bank’s internal regulations demonstrate a commitment to social considerations, gender equality, and a balanced relationship between the general union and the bank. Darwish emphasised that Egyptian institutions, including ABE, are dedicated to aligning legislation with global trends to protect employee rights and improve internal work environments.
Tsitsi Maphatsoe highlighted the significance of the visit, which offered the delegation valuable insights into ABE’s approach and its efforts to strengthen relations between management and staff. He expressed keen interest in exploring future cooperation opportunities, especially in joint training initiatives and professional knowledge exchange across Africa. Maphatsoe also praised the clear harmony between the bank’s leadership and its employees, and conveyed his gratitude to ABE’s management for their warm hospitality.
