GDA hosts industry experts at Bahrain Capital Club

The Gulf Downstream Association (GDA) hosted a gathering of prominent business leaders and industry experts at the Bahrain Capital Club on Monday.
Updated 25 June 2019

GDA hosts industry experts at Bahrain Capital Club

The Gulf Downstream Association (GDA) hosted a gathering of prominent business leaders and industry experts at the Bahrain Capital Club on Monday to discuss the power of collaboration and knowledge sharing and how to harness it for continued and sustainable development of the GCC and global downstream industry.

The evening consisted of networking and a presentation delivered by GDA Secretary General Audah Al-Ahmadi, titled “A New Initiative for Knowledge Sharing.”

During his talk, Al-Ahmadi provided an overview of the association and the principles and objectives on which it is founded. In 2016, GDA was established by a Cabinet resolution in Bahrain and is supported by its founding companies, the national oil companies of the GCC region, which include Saudi Aramco, Kuwait Petroleum International (KPI), Bahrain Petroleum Company (Bapco), Kuwait National Petroleum Company (KNPC) and Abu Dhabi National Oil Company (ADNOC) Refining. The primary aim of GDA is fostering engagement and aggregating the wealth of knowledge that lies scattered across the GCC and global downstream industries in order to accelerate development via its platform for industry collaboration and knowledge-sharing. 

Al-Ahmadi encouraged industry players to join the organization to capitalize on the vast experience and knowledge GDA and its membership have to offer.

ICD & We-Fi empower women entrepreneurs

Updated 18 September 2019

ICD & We-Fi empower women entrepreneurs

With the aim of discussing how the Islamic Corporation for the Development of the Private Sector (ICD) and the Women Entrepreneurs Finance Initiative (We-Fi) can expand their relationship and integrate the gender themes into ICD’s operations and businesses, a meeting was held between Ayman Amin Sejiny, CEO of ICD; Wendy Teleki, head of We-Fi secretariat; and Samir Suleymanov, director strategic initiatives, World Bank, at ICD’s premises in Jeddah recently. The parties discussed the development and promotion of women’s entrepreneurship through innovative sustainable solutions to increase women’s access to economic opportunities in developing countries. 

Teleki highlighted the main objectives of We-Fi, which is to support women entrepreneurs around the world through programs that provide financing, capacity building and also promote enabling environments that allow women to become entrepreneurs and grow their businesses. We-Fi uses an ecosystem approach to develop programs at the country level that will break down barriers and create more opportunities for women.

During the meeting, Ayman said: “ICD and We-Fi are working together to enhance their initiatives and mandates in supporting the female society in all ICD’s member countries. We want to ensure that our lines of finance and our relationship with the 102 directly connected financial institutions we are dealing with will further enhance the funding, training to women entrepreneurs and to provide the required necessary support to women in all our member countries.”

Teleki said that We-Fi has six implementing partners (IP) and the Islamic Development Bank (IsDB) is one of them. “IsDB, along with ICD is supporting women entrepreneurs in fragile countries. In Yemen, they have a very interesting ongoing program named BRAVE Women. They target to train up to 500 women to learn to develop business plans in fragile and high-risk contexts and up to 400 of them will get access to funding on a matching grant basis. This program aims also to develop the relationship between those women entrepreneurs with the local banks and also lead companies to make sure those women have access to finance and markets to grow their businesses. Moreover, the IsDB and ICD will be implementing soon this BRAVE Women program in two other countries to improve the women’s entrepreneurship potential in key economic sectors and we look forward to seeing those programs happening in future,” she said.

We-Fi is a global platform that seeks to support over a 100,000 women around the world in the next five years and mobilize at least $2 billion from the public and private sector for further activities.