KSA-based firms win awards for business excellence

Renewable energy can be an effective source of energy as well as a viable commercial investment.
Updated 04 December 2018

KSA-based firms win awards for business excellence

Saudi Arabia won three major honors at the recently concluded MEED Awards, a leading recognition program honoring the contributions of organizations and individuals toward the socio-economic development of the region.

Samba Financial Group won Bank/Financial Institution of the Year, while ACWA Power was recognized as Renewables Company of the Year. 

Saudi national Dr. Hibah Shata, managing director and co-founder of Child Early Intervention Medical Center, was presented with the Female Leader of the Year award, in association with NMC, for her visionary leadership and contributions to helping achieve meaningful change in Saudi society.

MEED Awards judges commended Samba for maintaining its strong performance whilst operating in a tough macro-economic environment. It also earned praises for addressing key issues and giving back to the community through initiatives such as the low-income housing program. 

ACWA Power, meanwhile, was recognized for its “commitment to excellence in the development of renewable energy in the region, and for showing that utilities-scale renewable energy can be an effective source of energy as well as a viable commercial investment. Its long list of achievements includes at least two world records and an impressive track record for safety and project delivery.”

Samba Financial Group, ACWA Power and Dr. Hibah Shata were three of several individuals and organizations recognized by MEED Awards for their outstanding contributions to the economic success of the GCC, with Maitha bin Adai, CEO of the Traffic and Roads Agency at Dubai’s Roads and Transport Authority, receiving the MEED Editor’s Award for Lifetime Achievement.

“We congratulate the winners of this year’s edition of the awards, and salute their unwavering commitment to business excellence, quality and innovation. Through the MEED Awards program, we hope to put their achievements in the spotlight not only to celebrate their success, but also become an inspiration to others,” said Louise Baird, head of events, MEED.

The MEED Awards gives companies the chance to tell their success story to a regional audience, regardless of size or industry.

The judges look at business achievements, environmental sustainability programs, workforce culture, innovative practices, and client service. In parallel, individual achievements among the leadership of each company and stakeholder are also recognized.

360-degree mentoring to boost Saudi social enterprise sector

Updated 23 May 2019

360-degree mentoring to boost Saudi social enterprise sector

The King Khalid Foundation (KKF) and Mowgli Mentoring have collaborated to strengthen the growing social enterprise sector in the Kingdom through the provision of 360-degree mentoring, which will support the personal and professional development of social entrepreneurs. The EMCC-accredited mentoring organization is working to built the capacity of Saudi mentors by instilling best mentoring practices and sharing experiences from its 10-year work around the world.

Globally, the concept of social entrepreneurship is increasingly gaining momentum and positive attention as it combines commerce with social good, allowing entrepreneurs to go beyond profit to positively impact communities and societies. Supporting these entrepreneurs, therefore, is in line with the KKF’s vision, which is to have a Saudi society with equal opportunities.

The KKF’s collaboration with Mowgli resulted in the creation of the Athar (Impact) Mentoring Program.

This program aims to build and increase the capacity of Saudi mentors, and equip them with the necessary tools to be able to provide mentorship, support and guidance to social entrepreneurs in the Kingdom. Matching mentors with social entrepreneurs and managing their mentorship relationships is a key benefit of the program.

To commence the mentoring program, Mowgli recently delivered a four-day workshop in the KKF premises in Riyadh. Fourteen professionals and business leaders received training to be 360-degree mentors before being matched with 14 social entrepreneurs. Both groups were provided with the guidelines to build solid foundations for their 1-2-1 mentoring relationships. In addition, the matched pairs will be supported over a duration of six months, during which structured on-going support will be provided to ensure that trust-based and impactful mentoring relationships are developed.

Mowgli Mentoring’s CEO Kathleen Bury said: “We see this program supporting the three themes on which the Kingdom’s Vision 2030 was built upon: Developing a vibrant society, a thriving economy and an ambitious nation. By supporting social entrepreneurs, we’re working toward achieving the Kingdom’s economic aspirations of increasing SME GDP contribution by 20–30 percent by 2030. We are, therefore, excited to be back in Saudi Arabia and are honored to be working with the King Khalid Foundation in delivering this program, and building Saudi Arabia’s mentoring capacity to sustainably support change-makers and their surrounding ecosystems for years to come.”

The key to developing entrepreneurship and fostering economic development lies in having a well-balanced ecosystem with equal investment in four key pillars: Environment (schooling, parenting), finance (working capital, debt and equity financing), infrastructure (incubators, accelerators, utilities and sound legal frameworks) and human capital development (mentoring, skills and knowledge development). Mowgli supports the latter and has successfully delivered more than 110 mentoring programs across the Middle East, North Africa and sub-Saharan Africa.