SEDCO’s financial literacy program wins London award

The award was presented at the Park Plaza Westminster Bridge Hotel in London.
Updated 02 December 2018

SEDCO’s financial literacy program wins London award

SEDCO Holding’s Rowad Riyali, an Arabic financial literacy program for entrepreneurs, has won the Learning Technologies Award for Best Learning Technologies Project — Public and Non-Profit Sector, presented at the Park Plaza Westminster Bridge Hotel in London.
The Learning Technologies Awards showcase some of the most recognizable, memorable and life-changing e-learning projects worldwide and are internationally recognized. The finalists were selected by an independent judging panel of experts organized by the eLearning Network. More than 400 entries from 22 categories were whittled down to produce a 185-strong shortlist showcasing learning technologies, out of which Rowad Riyali emerged as one of the winners.
SEDCO Holding CEO Hasan Al-Jabri said: “Rowad Riyali for entrepreneurs is an extension of our hugely successful Riyali program that addresses the need to educate the Saudi population on financial literacy and empower people with personal financial skills required to achieve a prosperous life. The program aims to empower entrepreneurs with the financial management skills and knowledge needed to be able to run and manage their businesses effectively and successfully.”
One of the many CSR programs funded by the company, the Rowad program was developed for SEDCO by Beirut-based Kashida, a team of passionate education professionals with many years of experience as content developers in educational technology. “Kashida’s vision is to give everyone the opportunity to learn, simply, and from this starting point, we design bespoke learning experiences that serve the best interests of the learners first, making learning engaging and accessible. SEDCO was the perfect partner for us because they not only support our vision, but have actually made it a reality with their Riyali platform,” Raneem Mourad, managing partner at Kashida, said.
Kashida based the program on an approach that ensures knowledge retention and provides practical methods for financial management within the entrepreneurial journey, including applied tools and simulations. Utilizing real-life successful entrepreneurs to present the content, the resulting solution was delivered in a self-paced format on the Riyali platform and a blended format in collaboration with startup incubators across Saudi Arabia.
Riyali was launched in 2012 and aims to familiarize members of the community with financial planning and management in order to meet their personal financial responsibilities, focusing on financial concepts such as planning, budgeting, saving, investing and borrowing in order to empower them with the personal financial skills required to achieve a desirable standard of living. 
Riyali aims to raise awareness and amplify positive change in youth behavior toward personal financial planning and responsibility. The program is delivered online on multiple e-education platforms in addition to More than 8,300 beneficiaries have been enrolled in the Rowad Riyali program to date.
With more than 430,000 beneficiaries from Riyali’s Ashbal, Shabab and Rowad programs, Riyali aims to reach 2 million students and entrepreneurs across the Kingdom by 2020.

MCIT, Huawei launch Kingdom’s first IoT Lab

Updated 52 min 21 sec ago

MCIT, Huawei launch Kingdom’s first IoT Lab

The Ministry of Communications and Information Technology (MCIT) and Huawei have announced the launch of the Kingdom’s first Internet of Things (IoT) lab and a fund of $1 million to support Saudi entrepreneurs. The announcement was made during the Huawei Day 2018 event held at The Ritz-Carlton, Riyadh.

The event was attended by Dr. Sulaiman Mirdad, minister adviser for IT industry development; Dennis Zhang, CEO of Huawei Saudi Arabia; and other representatives, including senior government officials, IT leaders and professionals.

The new lab will be located at Huawei’s innovation center in Riyadh and aims to provide entrepreneurs with a platform to innovate IoT applications, which will directly target the most important vertical sectors to the Kingdom.

This joint initiative between MCIT and Huawei is expected to boost the development of products and applications and promote an open and participatory IoT ecosystem. The new IoT lab is the first such innovation and development joint lab in Saudi Arabia. 

Under this cooperation, Huawei has also made available $1 million of funding to developers to accelerate the adoption of IoT in the Kingdom.

IoT development and innovation have transformed traditional industries and daily life. As hundreds of millions of IoT devices will be used for innovative services, the technology has a key role to play in digitalization across industries. Yet currently there is not much IoT adoption in Saudi Arabia, and there is a shortage in local skills and funding necessary to drive the sector forward. The lab is intended to bridge this gap, and ultimately to drive forward the Kingdom’s digital transformation forward and assist the leadership in achieving their vision of building a knowledge economy, in line with Saudi Vision 2030 and the National Transformation Plan 2020.

Dr. Ahmed Altheneyan, deputy minister for technology and digital capacities at MCIT, said: “We are proud to launch the Kingdom’s first IoT lab and fund with our partner Huawei, believing as we do that this initiative will help to promote ICT innovation and entrepreneurship ecosystem, accelerate the adoption of emerging technology within the Kingdom, and support in developing the skillset and technology necessary to enable our vision and national transformation plan.”

Huawei Saudi Arabia CEO Zhang said: “Saudi Vision 2030 calls for the development of the Kingdom into an innovative and globally competitive economy through digital transformation, and our aim at Huawei is to support the success of this vision. 

We are committed to open innovation and collaboration to promote the IoT sector here in Saudi Arabia and we see the launch of this lab as another milestone in our strategic partnership with MCIT.”