Alraedah Finance wins Gold Award as ‘SME Financier of the Year 2024’

Alraedah Finance wins Gold Award as ‘SME Financier of the Year 2024’
Abdulaziz AlDawood, CEO of Alraedah Finance
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Updated 02 October 2024
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Alraedah Finance wins Gold Award as ‘SME Financier of the Year 2024’

Alraedah Finance wins Gold Award as ‘SME Financier of the Year 2024’

Alraedah Finance has been awarded the Gold Award for “SME Financier of the Year 2024” by the Global SME Finance Forum, a recognition that underscores Alraedah’s commitment to empowering small and medium-sized enterprises across the Kingdom with tailored financial solutions and customer-focused support.
The SME Finance Forum, a global organization dedicated to improving financial access for SMEs, is supported by the International Finance Corporation, a member of the World Bank Group. With this significant backing, the SME Finance Forum has become one of the most reputable global organizations in the finance sector, boasting a network of more than 240 members, including major financial institutions, technology providers, and development finance organizations. Through its Global SME Finance Awards, the forum annually celebrates financial institutions and fintech companies that are setting new benchmarks in delivering innovative and impactful financial services to the SME sector.
In July 2023, Alraedah Finance launched a first-of-its-kind Customer Success Department, designed to enhance client experiences and deliver tailored support to SMEs. This strategic initiative reflects the company’s commitment to ensuring that its SME clients not only succeed but thrive. By offering personalized assistance and proactive engagement, the Customer Success Department has become a cornerstone of Alraedah’s mission to foster long-term partnerships with its clients.
“Our focus has always been on fostering long-term partnerships with our clients, and the establishment of the Customer Success Department is a clear reflection of that commitment,” said Abdulaziz AlDawood, CEO of Alraedah Finance. “We are dedicated to ensuring that SMEs across the Kingdom have access to the tools, guidance, and resources they need to grow and succeed.”
The impact of Alraedah’s Customer Success Department has been remarkable. In Q1 of 2023, the company’s SME payment default rate was 6.7 percent. By Q1 2024, the average default rate was 3.3 percent, marking a significant 50 percent reduction in merchant defaults. These impressive figures highlight the department’s success in providing the critical support SMEs need to stay financially healthy.


MBSC and HSTP sign MoU to advance Saudi healthcare

MBSC and HSTP sign MoU to advance Saudi healthcare
Updated 29 October 2024
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MBSC and HSTP sign MoU to advance Saudi healthcare

MBSC and HSTP sign MoU to advance Saudi healthcare

Prince Mohammed bin Salman College of Business and Entrepreneurship, the Kingdom’s world-class business school, has signed a memorandum of understanding with the Health Sector Transformation Program. In line with Saudi Vision 2030, the new partnership focuses on fostering the growth and development of the Kingdom’s healthcare sector.

The MoU was signed by Dr. Zeger Degraeve, dean of MBSC, and Khalid Alshaibani, CEO of HSTP. Through this agreement, MBSC and HSTP will explore opportunities to strengthen cooperation in education and training, focusing on skills development for both current and future healthcare professionals.

As part of the partnership, MBSC and HSTP will co-develop specialized training programs tailored to the needs of their respective organizations, to equip employees with advanced skills and knowledge. The two parties will also collaborate on organizing research and training events designed to foster knowledge exchange and drive innovation within the healthcare sector.

Additionally, the MoU includes provisions for sharing knowledge networks, granting both MBSC and HSTP access to a diverse pool of local and international experts. This partnership leverages the combined expertise of both institutions, creating a powerful alliance committed to the shared goal of transforming the healthcare landscape in Saudi Arabia. MBSC will also offer discounted rates for HSTP employees and their immediate family members, reinforcing its mission to nurture the Kingdom’s future leaders.

Commenting on the MoU, Degraeve said: “At MBSC, we believe that equipping professionals with the skills and knowledge required to lead in an evolving healthcare landscape is essential for overcoming challenges and capitalizing on future opportunities. We are proud to partner with HSTP in this critical endeavor, as it represents a significant milestone in advancing the Kingdom’s healthcare sector through innovative education and training initiatives.”

Located in King Abdullah Economic City, MBSC offers a modern learning environment that supports world-class education and experiential learning, delivering practical and transformative leadership development for the next generation of Saudi leaders. With campuses in both King Abdullah Economic City and Riyadh, MBSC provides hands-on learning designed to create a positive impact on the Kingdom’s future.


LuLu plants 3,000 trees in Eastern Province

LuLu’s tree planting campaign aligns with the Saudi Green Initiative.
LuLu’s tree planting campaign aligns with the Saudi Green Initiative.
Updated 29 October 2024
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LuLu plants 3,000 trees in Eastern Province

LuLu’s tree planting campaign aligns with the Saudi Green Initiative.

LuLu Hypermarket recently hosted a community event in the Eastern Province in collaboration with Khobar Municipality, during which 3,000 chaste trees were planted. The event was attended by Abdullah bin Ali Al-Ayyadi, assistant director of the parks and beautification department at the municipality, who highlighted the role of the private sector in supporting environmental initiatives and driving sustainable development across the Kingdom.

LuLu’s tree planting campaign aligns with the Saudi Green Initiative, aimed at increasing green spaces and improving the quality of life across various regions of the Kingdom. The chaste tree was specifically chosen for its adaptability to the region’s climate, as well as its numerous environmental and health benefits. This tree symbolizes care for the environment and the provision of a healthy and sustainable life for future generations, reflecting LuLu Hypermarket’s commitment to supporting environmental issues and promoting sustainability.

Through this event, LuLu seeks to enhance environmental awareness among community members, emphasizing that tree planting is not merely a recreational activity but carries a powerful message urging everyone to participate in protecting the environment and conserving natural resources. The event witnessed wide participation from local community members, reflecting their growing concern for environmental issues and their desire to be part of sustainable environmental solutions.

Al-Ayyadi said that LuLu's initiative serves as a model for successful collaboration between the public and private sectors, enhancing the prospects for achieving the desired environmental goals.

Mohammed Ahmed Bobsheit, executive director of LuLu Group in the Eastern Province, said: “Through this initiative, we affirm that every tree we plant today is a seed of hope for a greener and more sustainable future. Caring for the environment is not just a duty toward the Earth, but a commitment to future generations. Together, we can make a positive difference that ensures a better world for generations to come.” 

Bobsheit also thanked Khobar Municipality for their support in making the initiative a success.

As part of its commitment to social responsibility and the Saudi Green Initiative, LuLu plans to organize more such tree planting events in the future, in addition to implementing several environmental awareness programs and activities for its customers across all its branches in Saudi Arabia.


Cenomi Centers opens Al-Nassr flagship store at U Walk Riyadh

Cenomi Centers opens Al-Nassr flagship store at U Walk Riyadh
Updated 28 October 2024
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Cenomi Centers opens Al-Nassr flagship store at U Walk Riyadh

Cenomi Centers opens Al-Nassr flagship store at U Walk Riyadh

Cenomi Centers, the largest owner, operator and developer of contemporary lifestyle centers in Saudi Arabia, has announced a collaboration with Al-Nassr, one of the most prestigious football clubs in the Middle East. The collaboration has resulted in the opening of a new flagship club store at U Walk Riyadh, perfectly placed for fans attending home games.

To celebrate the opening of the new store, a special event was held with fans and Welsey Gassova and Mohamed Simakan, two star players from the club. The Al-Nassr flagship store caters to the growing number of football fans in the Kingdom, with merchandise sold from one of the top teams in the Saudi Pro League. It also boasts a new café, offering the trending Noug products, adding an extra experiential element for visiting fans. 

Opened in 2019, U Walk Riyadh is one of Cenomi’s flagship shopping centers and Al-Nassr is just the latest brand to become part of this world-leading destination. Located just 2 kilometers away from Al-Awwal Park, the center already boasts premier lifestyle options, including Saudi Arabia’s most popular shopping, dining, and entertainment brands, spread over almost 30 acres, including a 900-meter walkway.

Cenomi Centers CEO Alison Rehill-Erguven said: “Partnering with Al-Nassr, one of Saudi Arabia’s most successful football clubs, is an exciting development and one sure to appeal to the legions of the club’s fans in the capital. The club’s new store is also a welcome addition to Cenomi Centers’ U Walk Riyadh, the beating heart of retail and dining in the city and one of our premier lifestyle destinations. We look forward to a long partnership with the team — and the sport — which is increasingly growing in popularity in the hearts and minds of our customers across the Kingdom.”


Jeddah Motor Show to kick off Tuesday

Jeddah Motor Show to kick off Tuesday
Updated 28 October 2024
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Jeddah Motor Show to kick off Tuesday

Jeddah Motor Show to kick off Tuesday

Jeddah is all set to host the Jeddah Motor Show, taking place at the Jeddah Superdome from Oct. 29 to Nov. 2. The event is supported by the Saudi Automobile and Motorcycle Federation and sponsored by strategic partners, namely Alrajhi Bank, Mojaz, Arab National Bank, Abdullah Hashim Co. Ltd., and gold sponsor Bank AlJazira, along with media partners ArabGT, Alif Alif FM Radio, and Al-Madina newspaper.

This show is the most prominent automotive event in the Kingdom, offering an exceptional experience with the unveiling of new models from global brands. Kia will headline the event with the launch of a new model marking a significant milestone in its journey, while Peugeot will showcase its latest 3008 model. Moreover, Jetour will present its distinguished X50 model with advanced technologies and elegant design, and Haval has a major surprise in store for the show’s visitors.

The exhibition spans more than 40,000 square meters and is expected to attract over 300,000 visitors from across the Kingdom and the region. The event will feature a variety of exciting activities such as kart racing, thrilling off-road vehicle demonstrations, and breathtaking drift shows. The show will also include e-racing simulations, a car clinic, as well as a dedicated food truck area and entertainment activities for children, ensuring a comprehensive experience for the whole family.

The Jeddah Motor Show is an extraordinary opportunity to showcase the latest advancements in the global automotive industry. It serves as a bridge connecting future technologies with the local market’s needs, making it a must-visit destination for car enthusiasts.

 


Huawei partners with Salam Mobile to boost CX

Huawei partners with Salam Mobile to boost CX
Updated 28 October 2024
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Huawei partners with Salam Mobile to boost CX

Huawei partners with Salam Mobile to boost CX

Huawei has signed an important memorandum of understanding with Salam Mobile, marking a collaboration aimed at enriching customer experiences for both companies in the Saudi Arabian market. The agreement was signed during a ceremony by Keith Li, vice president, Huawei Tech Investment Saudi Arabia, and Ahmed Al-Anqari, CEO of Salam, in the presence of Amr M. Eldesouky, chief consumer officer at Salam.

The MoU focuses on several initiatives that will benefit both Huawei and Salam Mobile customers, including tailored promotions and enhanced services available through the Huawei Flagship Store in Roshn Front, Riyadh. Salam Mobile will offer exclusive promotions for Huawei users, complemented by various marketing materials.

“This MoU represents an exciting opportunity to work with Salam Mobile to provide customers with enhanced digital experiences,” said Li. “We are pleased to support this collaboration and offer Huawei users access to even more exclusive services through Salam.”

“This partnership with Huawei reflects our shared commitment to improving customer experiences by delivering tailored offers and solutions,” said Al-Anqari. “Through this collaboration, we aim to bring greater value and convenience to our customers, reinforcing our dedication to service excellence.”

Additionally, Salam Mobile will provide voucher cards to Huawei customers via the My Huawei community, boosting customer engagement and delivering added value to the users of both companies. To further elevate the customer experience, Huawei will install a Salam Mobile self-service kiosk in the flagship store, providing customers easy access to Salam’s services.

One of the exciting aspects of the collaboration includes Huawei organizing an esports event at the Salam Mobile showroom in Riyadh, highlighting both brands’ focus on engaging, innovative experiences for their customers.