Foresight Consulting helps Giza Systems with ESG strategy and GRI Report

Giza Systems, a subsidiary of solutions by stc, has released its inaugural GRI Report, developed in collaboration with Foresight Consulting and IdealRatings.

Headquartered in Egypt, Giza Systems is a leading systems integrator in the Middle East and North Africa with over 2,400 professionals working across offices in Cairo, Riyadh, Dubai, Doha, Nairobi, Dar-es-Salaam, Abuja, Kampala and New Jersey. The company designs, builds and implements technology solutions for asset-intensive industries such as the telecoms, utilities, oil and gas, hospitality and real estate.

As part of its ESG strategy, Giza Systems embarked on the objective to make its impact in the areas of environment, social and governance more transparent to its stakeholders and the wider world. The release of its first GRI report is an integral part of that ambition, with the 113-page report released last month.

GRI stands for the Global Reporting Initiative, which is an international independent standards organization that helps businesses, governments, and other organizations understand and communicate their impacts on issues such as climate change, human rights, and corruption. Over 10,000 companies from more than 100 countries use GRI as their standard for reporting, now also including Giza Systems.

In the report, the Egyptian company outlines its progress over the years, in areas such as finances (revenues grew by 28% to $429 million in the last year) and headcount (growth to 2,400 staff), and sets out its strategic plans for the future. The report also includes a Message from the CEO, Osama Sorour.

“Sustainability was already embedded throughout our company’s DNA since our inception. It was originally built to address a diverse range of sustainability aspects across our operations and decision-making processes. To solidify our commitment as a truly ESG-driven organization, we have integrated ESG principles into the core of our corporate strategy, ensuring they guide every aspect of our business,” Sorour stated.

“Our sustainability goals align with the broader objectives of key regional and international development agendas, including Egypt Vision 2030, Saudi Arabia Vision 2030 and the African Agenda 2063. Additionally, it is developed in accordance with multiple international frameworks such as the UN Global Compact (UNGC) and the United Nations Sustainable Development Goals (UN SDGs).”

The partners behind the scenes

Behind the scenes, Giza Systems’ work on its sustainability strategy, as well as integration within its risk management framework and business processes, was supported by Foresight Consulting, a leading management consulting firm from Cairo. The consulting firm also served as the lead author of the GRI Report.

“We are thrilled to have successfully completed a comprehensive engagement with Giza Systems to support them in their ESG and sustainability journey. This project was conducted alongside our partners IdealRatings to develop Giza Systems’ first sustainability report, and a corresponding sustainability strategy,” stated Foresight Consulting.

Giza Systems is majority owned by solutions by stc, which bought its stake in October 2022.