SEDCO has always believed in the importance of good corporate citizenship and caring for the community in which it operates. Throughout the Group various CSR programs are conducted which include:
Riyali is SEDCO's Financial Literacy Program and the Group's flagship Corporate Social Responsibility (CSR) program which addresses the need to educate the Saudi population on financial literacy and empower people with the personal financial skills required to achieve a prosperous life. The program targets 50,000 people within the course of 5 years. In the launch phase, Riyali will run at 4 prominent universities in Jeddah; College of Business Administration, Dar AlHekma College, Effat University, and King AbdulAziz University.
Riyali addresses an important need in Saudi Arabia to educate youth on the benefits, importance, and value of financial literacy. In preparing the program, SEDCO conducted a nation-wide survey involving a thousand young Saudi nationals to determine the market needs. Results showed only 11% keep track of their spending; although 75% thought they understood the basics of money management.
Using a series of interactive workshops, the program will drive change in behavior towards financial planning and responsibility and provide value through creating a difference in their overall spending and saving habits.
SEDCO Research Excellence Award
Supporting the Kingdom of Saudi Arabia's efforts to promote scientific research and education, SEDCO Holding awarded a research grant to King Abdullah University of Science and Technology (KAUST. The university's Development and Global Collaborative Research Department created the SEDCO Research Excellence Award, a program that will fund a three-year multidisciplinary research project at KAUST.
SEDCO Research Excellence Award's recipient is a team of six senior faculty members at KAUST. Their winning research proposal was entitled "The Deep-Sea Brine Pools of the Red Sea: From Novel Extreme Organisms to Commercial Applications."
DAR Al-Hekma College Scholarship Grant
SEDCO is also involved in different programs aimed at educating and enabling the community. These include sharing best practices in education with Ministry of Education employees, providing defensive driving training and material on how to drive and use GPS with the Traffic Police, organizing courses on corporate leasing and how to drive safely in cooperation with insurance companies; provide Municipality employees with relevant courses, give students free booths at shopping malls to conduct educational surveys, educate college students about the hospitality sector through career days at universities, and provide Hajjis with informative audio sets that explains Hajj to them.
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