Tag: BUSINESS

Categories
Bollywood Business Lite Blogs

Bollywood Business Babes

The elaborate range of cosmetics is primarily aimed at catering to the Asian skin tone and texture. It also happens to be the country’s first beauty line to emerge out of Bollywood…writes Nimerta C Sharan.

Film and business are connected together in all sense. Model and wellness enthusiast Malaika Arora recently launched her investment company, Malaika Arora Ventures, which has invested in lifestyle and wellness start-ups such as Sarva and Nude Bowls. While Bollywood’s leading ladies might be in the spotlight for their films and glamorous fashion outings, there’s more to them than meets the eye, for starters most of them have great business acumen and are investing their time and money into projects that go beyond filmmaking.

From setting up funding ventures to starting their own businesses, the industry’s new wave of women entrepreneurs are making all the right moves, here’s a round-up of some popular actresses who are boss babes in their own right:

Alia Bhatt

With a career spanning almost 10 years, Bhatt has been a part of some spectacular films and brand endorsements. Last year, the 28-year-old launched a sustainable clothing line for children ‘Ed-a-Mamma’ catering to the age group of 2-14 years. The actress has invested in companies like Stylecracker and Nykaa and has also launched a platform ‘Coexist’ that works towards animal and ecological welfare.

Priyanka Chopra Jonas

From opening an Indian restaurant ‘Sona’ in New York to launching her own vegan haircare brand ‘Anomaly’, there’s no stopping this global trendsetter. A production company under the name, the actress has delivered two successful hits Ventilator and The Sky Is Pink. That’s not all; the superstar became the face of dating app Bumble in 2018 and invested in the start-up as well. You go, girl!



Katrina Kaif

She kickstarted her innings as an entrepreneur in 2019 with the launch of her make-up brand ‘Kay Beauty’, in partnership with beauty giant Nykaa. The elaborate range of cosmetics is primarily aimed at catering to the Asian skin tone and texture. It also happens to be the country’s first beauty line to emerge out of Bollywood.

Anushka Sharma

At 25, Sharma set up a production house ‘Clean Slate Filmz’ with her brother. Known to have produced some incredible movies and web series, she is actively involved in the process, from selecting scripts to finalizing the cast. The 33-year-old also launched her apparel line ‘Nush’ in 2017, which is an extension of her distinct style. A champion of animal rights, the actress has also opened two rescue animal shelters outside Mumbai with her husband Virat Kohli.



Deepika Padukone

With a super successful career, more than a dozen brand endorsements and an exciting international work graph, Padukone is on top of her game. In 2017, she set up her own investment venture ‘KA Enterprises’ which has invested in Epigamia — a brand of yoghurts, hobby-based start-up FrontRow, electric taxi enterprise Blu Smart and aerospace start-up Bellatrix. Padukone made her debut as a producer in 2020 with the release of her film “Chhapaak”.

ALSO READ-Pranitha loves to work more in Bollywood

READ MORE-Take a look at popular Bollywood tales on ‘SPORTS’

Categories
Arab News Business Events

Mall of Oman finally opens its door to customers in Sultanate

Mall of Oman_

Mall of Oman is Majid Al Futtaim’s fifth and largest shopping destination in the Sultanate…reports Asian Lite News

Majid Al Futtaim, the leading shopping mall, communities, retail, and leisure pioneer across the Middle East, Africa and Central Asia has opened the doors of the eagerly awaited Mall of Oman in Muscat. The opening of the mall marks an important milestone for Majid Al Futtaim as it continues to play a significant role in supporting local communities by enhancing the Sultanate’s retail and entertainment offerings for both residents and tourists.

Mall of Oman_

A recipient of the LEED Platinum certificate for its commitment to sustainability, resource efficiency, health and wellbeing, the new super-regional mall combines a selection of curated stores that bring the very best in retail, leisure, entertainment, and dining, as well as experiential offerings for all ages. Those visiting the mall can now experience Oman’s largest VOX Cinemas — complete with 15 screens — as well as the only IMAX experience in Oman, the first GOLD experience in Oman, and the largest Magic Planet in the country, which features award-winning rides, games and attractions. Plus, those looking for dining options can indulge at Kitchen 35, the VIP Lounge (GOLD) and Nutella.

Alongside this offering, customers can also enjoy a host of brands including a 9,000 square meter Carrefour Hypermarket as part of Majid Al Futtaim and several brands from the Landmark and Apparel groups. In addition, Mall of Oman offers famous outlets such as DKNY, Nespresso, G-SHOCK, Homes R Us, Tavola and Al Khalili Buildex, ensuring there is something for everyone.

HUSAM AL MANDHARI, DIRECTOR, MAJID AL FUTTAIM, OMAN: “We are pleased to welcome residents and tourists to the brand-new Mall of Oman – Sultanate’s flagship destination for retail, leisure and entertainment. This is another achievement for us as we continue to position ourselves as a retail pioneer that offers unique experiences and unmatched value, whilst contributing to the local economy. Providing 3,500 new jobs in the region, Mall of Oman offers multiple first-of-its-kind experiences in the Sultanate, which allows us to continue to create memorable moments for our customers that they can cherish with their family. At Majid Al Futtaim, we are committed to place the people and communities we serve at the heart of everything we do, and this new opening demonstrates this.”

ALSO READ: Dubai set for the first and largest Megamarket

This September, families at Mall of Oman can also embark on the ultimate adventure with Dino World, an interactive dinosaur experience. In collaboration with EventBox, the new family offering will have visitors travelling back in time for an exciting and educational journey showcasing the history and evolution of dinosaurs, life size dinosaur installations, a “roaming dino” interactive experience and augmented reality.

Mall of Oman_

Plus, with 80% of Mall of Oman’s gross leasable area leased, the mall is set to welcome over 300 additional retail outlets in the coming months. And for those looking to go on a culinary journey, Mall of Oman has unveiled a 1,000 plus seater food court which will offer a selection of global chains. Meanwhile, those looking for more indulgent cuisine options from across the globe, will soon be able to visit various cafés and restaurants at the mall including over 50 dining options. Mall of Oman is also pleased to announce that it will launch the largest indoor snow park in the Sultanate next year, spanning over 14,000 square meters.

Mall of Oman complements Majid Al Futtaim’s strong regional presence that includes 29 existing malls across the GCC.

Categories
Arab News Business

AVEVA to extend its partnership with Aramco

Peter Herweck, CEO, AVEVA

AVEVA and Aramco Plan to Partner to Realize Key Sustainability Goals through Digitalization…reports Asian Lite News

Aramco, one of the world’s largest integrated energy and chemicals companies, and AVEVA, a global leader in industrial software, driving digital transformation and sustainability, have announced their intention to form a strategic alliance. Focused on driving sustainability in the region through digital transformation, the partnership will help enable AVEVA to establish their largest digital hub, with an R&D capability, in the Middle East, headquartered in Saudi Arabia. This partnership will represent a significant investment for AVEVA which is also looking to create up to 300 high skill new jobs in the Kingdom by 2030.

Ahmad Al-Sa’adi, Senior Vice President of Technical Services, Aramco

This transformative and groundbreaking partnership is designed to foster a working relationship between the two companies in the deployment of various digital technologies including Artificial Intelligence (AI), Machine Learning (ML), and Data Management.  AVEVA and Aramco aim to work together to unlock the benefits of these technologies in line with the Kingdom’s move towards industrial sustainability. One of the key focus areas of the partnership would be to utilize digital technologies to support the development and implementation of blue hydrogen and decarbonization facilities in Saudi Arabia in line with the Kingdom’s energy transition strategy.  Another area in which the companies intend to work together is in the implementation of cutting-edge predictive analytics technology across Aramco’s operating facilities.  This would be one of the largest deployments of such technology in the region and the main goal is to further improve the reliability, performance, and safety of Aramco’s operation.

ALSO READ: ADX to launch a derivatives market

A key offering for customers in the region through this new hub is intended to be AVEVA’s trademark Digital Twin technology which combines asset design and predictive analytics in order to create a fully integrated, real-time data visualization center that reveals functional insights, unlocks efficiencies, and identifies new pathways to optimize performance. The new hub, through its R&D capability, would contribute to enriching Saudi Arabia’s knowledge economy by incorporating world-class research at prominent universities across the Kingdom.

AHMAD AL-SA’ADI, SENIOR VICE PRESIDENT, TECHNICAL SERVICES, ARAMCO: “One of the key pillars for realizing the Kingdom’s Vision 2030 is Digital Transformation. Digital technologies have the potential to accelerate the transformation of the industrial sector and drive it towards more efficient and sustainable operations. Establishing partnerships with leaders in industrial digital software, such as AVEVA, is one of the main elements in our digital transformation strategy and we believe will help us realize our mission of leveraging digital solutions to deliver tomorrow’s energy more sustainably, efficiently, and safely. The regional hub that would be established by AVEVA would contribute to Aramco’s ‘In Kingdom Total Value Add’ (IKTVA) program goals and will facilitate Saudi Arabia’s path to realizing the benefits of a digital economy.”

AVEVA’s CEO Peter Herweck also commented, “AVEVA is proud to be working with Aramco towards an agreement to facilitate its digital transformation journey.  Through this partnership, the vision of our companies is to play a fundamental role in industrial sector decarbonization within Saudi Arabia and the delivery of its sustainable goals, bringing capabilities to optimize every aspect of the value chain with sophisticated imaging, data analytics, and deep-learning technologies that this initiative would bring. Through this initiative, AVEVA aims to contribute to creating job opportunities in the Kingdom and throughout the Middle East region.”

Categories
Business FEATURE UAE News

Tips for successful marketing campaigns

Karam Malhotra- Partner & Global VP, SHAREit Group

Connecting with offline consumers: The trends and tactics Middle Eastern businesses should consider for successful marketing campaigns…writes Karam Malhotra

In today’s evolving technology-first world, the connected consumer effectively lives on digital platforms, surrounded by connectivity devices and active on real-time communication tools. While connected consumers may range from young digital natives to full-time working professionals and their interests and demands vary – commonalities in their behaviors are also apparent. Mobile devices have propelled them into a new dimension, one where they could be reading on their phones during transit or checking product reviews when face-to-face with store sales representatives. Without question, connectivity is a constant state of being, applicable to many millions of people. However, what’s equally true is that another segment has, to date, remained traditional: the offline consumer.

Karam Malhotra- Partner & Global VP, SHAREit Group

Regional offline consumer outlook

This applies to the Middle East, where there remain markets where connectivity is not seamlessly acquirable. Although approximately 280 million people across the region were connected to mobile internet by the end of 2020 , a further 350 million were still without mobile internet connections – emphasizing the scale of offline consumers even today, as well as the varying level of digital maturity across the region.

With these scenarios in mind, two questions have arisen from a brand standpoint: Firstly, are they looking beyond connected consumers? Secondly, how can they connect with potential offline consumers? While 70 percent of Middle Eastern organizations will have accelerated digital technologies adoption to transform their business processes and outreach capabilities by 2022 , many will still be challenged to successfully reach those who do not fall into the connected consumer category. Although surprising to some, certain communities will continue residing in areas where reliable and uninterrupted connectivity issues persist, with content consumed in native languages.

Fortunately, mobile represents an opportunistic gateway for brands to engage with this target audience, especially considering the challenges COVID-19 has posed. As of January 2021, the Middle East had witnessed a sizeable increase in mobile device activations with 23 percent year-over-year growth  and e-commerce sales are expected to reach USD 48.6 billion by 2022 – a USD 21.7 billion increase from 2018 . The mobile phone is a constant companion for the Middle Eastern consumer wherever they are – at home, work, or social gatherings – and many brand marketers are proactively considering new ways to circulate mobile content in communities that lack internet access via offline marketing.

In simple terms, offline marketing is reaching out to audiences without connectivity access by leveraging the power of mobile. Various content sharing and discovery platforms enable users to share files and content even when offline, while in-app advertising can also drive huge volumes of downloads – yielding successful offline marketing results.

Key marketing considerations for businesses

As businesses look ahead and chart a course for interacting with offline audiences, they should be aware of the latest trends and consider the marketing technologies that will be most beneficial to them. Firstly, it is apparent that the pandemic has changed the content consumption playbook for brands. Traditional cable or satellite service cancellations have led to a decrease in TV viewership, with consumers no longer watching TV ads or visiting stores to purchase products. Instead, an omnichannel mobile-oriented shopping experience has taken effect. The Middle East has witnessed exponential growth in over-the-top (OTT) videos and related services in recent times, and this momentum will continue through 2024  as OTT platform subscriptions continue rising.

ALSO READ: High digitalization among women-owned businesses

Consumers, although advertently, also have declining attention spans, which businesses should view as an opportunity rather than a challenge. Short format videos lead to better engagement with consumers, and these should be pursued as a form of engagement with the offline consumer. Furthermore, while there are popular marketing technology tools that businesses use to efficiently drive campaigns, such as Google Analytics and Salesforce, it is worth highlighting a different approach for increasing user numbers from an application standpoint. Partnering with peer-to-peer (P2P) apps that target offline audiences, have an established user base, and boast notable expertise in app marketing can help drive quality downloads for one’s business and solidify successful engagement with offline audiences.

For Middle Eastern businesses, the coming period represents an opportunity to reach out to offline consumers and acquire new customers through the power of mobile. Irrespective of limited internet access, mobile activation, payment, and subscription rates will continue increasing in the years ahead, broadening potential and possibilities. By pursuing OTT services, marketing technologies, and platform partnerships, businesses can interact with offline consumers like never before and build mutually beneficial relationships for the long term.

Categories
Africa News Business Dubai

Global Business Forum Africa 2021 to hit Dubai

Global Business Forum Africa 2021 to highlight continent’s untapped trade potential…reports Asian Lite News

Dubai’s growing appeal as a strategic hub African companies that are keen to expand their global reach and tap into new trade opportunities will be a main focus of discussions at the 6th Global Business Forum Africa, which descends on Dubai October 13-14th 2021.

The high-level forum, held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, is organised in partnership with Expo 2020 Dubai.

AFRICA_ENG-logo

Dubai Chamber of Commerce and Industry (Dubai Chamber) has announced the agenda for the Global Business Forum (GBF) Africa 2021 – the first of its programme of activities that it is running as the Official Business Integration Partner of Expo 2020 Dubai.

Bearing the theme Transformation Through Trade, GBF Africa 2021 will turn its attention to explore an array of challenges and opportunities across the continent that have emerged in the wake of Covid 19 and the  African Continental Free Trade Area (AfCFTA), while putting the spotlight on Dubai as a preferred gateway connecting African countries to promising markets in various regions of the world build new bridges between the African and UAE business communities. 

ALSO READ: Dubai Air show 2021 on the move

Day one of GBF Africa 2021 commences with sessions tackling a variety of trend and issues reshaping African economies at the moment, including the role of regional and international partnerships such as the African Continental Free Trade Area (AfCFTA), in reshaping the trade and investment landscapes and driving sustainable growth, capital as a factor driving innovation, and prospects for expanding UAE-Africa economic cooperation.

On the second day of the forum, conversations will shift to Dubai as a model for logistics, infrastructure development and smart city solutions that can be replicated in African markets, in addition to growing momentum behind African entrepreneurs, smart agriculture and digital economy initiatives.

H.E HAMAD BUAMIM, PRESIDENT AND CEO OF DUBAI CHAMBER: “Rapid changes have transformed the trade dynamics in Africa and around the world over the last year and a half, creating new prospects for UAE companies can benefit from as they look to tap into new high-potential markets.”

HE Hamad Buamim

As one of the biggest events to be held at Expo 2020 Dubai, GBF Africa 2021 will open new doors of opportunity for visiting delegates, while familiarising them with Dubai’s economy, business environment and competitive advantages, H.E. Buamim added.

GBF Africa 2021 is part of Dubai Chamber’s flagship Global Business Forums series that was launched in 2013, which also explored economic potential in Latin America and the ASEAN region. Previous editions of the forum have attracted participants from 65 countries, including 32 presidents of state and government, 140 ministers and government officials, and nearly 1,000 business leaders, company heads and CEOs. More than 1,800 bilateral business meetings were organised between investors during past forums.

Categories
-Top News Arab News UAE News

MBZUAI launches executive programme for govt and biz leaders

All industries and economic sectors would benefit from the new programme, he said, which underscores the UAE’s commitment to foster economic growth locally and promote AI as a force for good globally…reports Asian Lite News.

The Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), the graduate-level, research university focused on artificial intelligence (AI), has launched the MBZUAI Executive Programme, designed to help the UAE’s government and business elite unlock the potential of AI to ensure smart management, increased efficiencies and enhanced productivity.

The programme will comprise six courses, each delivered by instructors from world-leading academic institutions, executives from global multinationals, and the university’s faculty. It will also promote greater engagement on AI between government, business, and the scientific community to accelerate the development of future industries in the UAE while supporting the nation’s long-term strategy to become a global AI leader.

“Today’s unveiling of the MBZUAI Executive Programme illustrates, once again, the determination of the UAE to position itself at the forefront of the technologies and innovations shaping the global economy,” said Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Chairman of the MBZUAI Board of Trustees.

“This depends not only on world-class scientific research but also on close collaboration between all stakeholders, be they government, business, investors, the scientific community, or the public. Tailored to the needs of some of the UAE’s most senior government and business executives, the MBZUAI Executive Programme empowers decision-makers in all industries to harness the benefits of AI in forging the future success of their respective organisation, in preparation for the nation’s ambitions for the next 50 years.”

All industries and economic sectors would benefit from the new programme, he said, which underscores the UAE’s commitment to foster economic growth locally and promote AI as a force for good globally.

The programme is designed to support senior leaders across public and private sectors, undersecretaries and assistant undersecretaries, C-suite executives, leaders in IT, technology and across multiple functions and industries seeking to understand the possibilities of AI.

Its first cohort, of around 40 senior executives, will undergo 12 weeks of online practical courses, as well as seminars on the business, ethical and policymaking dimensions of the AI industry. The deadline for registration is 7th October 2021; while the first day of classes begins on 23rd October 2021.

The programme’s six courses include An Introduction to AI; AI, Machine Learning and the Economy; Visual Cognition and Intelligence; Lingual Cognition and Intelligence; The Future of Robotics and AI Ethics and Policymaking.

ALSO READ-Indian Embassy extends helping hand to students in Saudi

Categories
Business Dubai UAE News

Etihad Rail partners join hands with Al Ghurair

Mohammed Al Marzouqi, Executive Director of Rail Relations Sector at Etihad Rail

Etihad Rail partners with Al Ghurair Iron & Steel to transport steel products across the UAE…reports Asian Lite News

Etihad Rail has signed a partnership agreement with Al Ghurair Iron & Steel (AGIS), the UAE’s largest producer of galvanised and cold rolled flat steel, to use the UAE National Rail Network to transport the steel producer’s product across the nation.

Etihad Rail will be providing efficient and sustainable services by transporting steel products from AGIS’s manufacturing facilities through the rail freight terminal in the Industrial City of Abu Dhabi (ICAD) to Khalifa Port in Abu Dhabi and Jebel Ali in Dubai for exports.

Mohammed Al Marzouqi, Executive Director of Rail Relations Sector at Etihad Rail

Speaking on the agreement, Mohammed Al Marzouqi, Executive Director of Rail Relations Sector at Etihad Rail, commented: “Our company consistently seeks more robust partnerships with a range of entities, delivering services that are integrated directly with clients’ business models and further promote their efficiency. Our agreement with AGIS will facilitate the transport of their products through the UAE National Rail Network, connecting industrial hubs, exports points, and commercial centres. Our rail network drives further cost and time savings, increases operational efficiency in comparison to road-based transport, and enables further market expansion opportunities for our partners at AGIS.

Al Marzouqi added: “The addition of AGIS to our roster of partners demonstrates how Etihad Rail benefits businesses in industries across the UAE. Etihad Rail is looking to bring those benefits to all industries across the UAE, particularly the iron and steel industry. Our customers trust us for our innovative, sustainable, and competitive transport solutions and services. In doing so, they drive our ability to meet the demands of the market and enhance both our existing and future partnerships through enabling extensive freight services.”

ABU BUCKER HUSAIN, CEO, AL GHURAIR IRON & STEEL :“We are confident Etihad Rail will provide world class facilities. Our collaboration with the company will immensely boost our continuous endeavour to improve customer satisfaction. Transporting steel coils by rail is both reliable and environmentally friendly, reducing both time and damage caused by road transport. Additionally, rail transport allows for shorter timeframes for import clearance of hot rolled steel coils. With such improvements in our supply chain, galvanised steel coils made in UAE will find a wider customer base.”

Abu Bucker Husain, CEO of Al Ghurair Iron & Steel

AGIS is a leading manufacturer of high-quality steel sheets and galvanised steel, widely used in the UAE’s construction sector. With AGIS’s products being exported to over 40 nations, the producer will leverage Etihad Rail’s facilities at ICAD to reduce transportation costs and time.

ALSO READ: Ajman Chamber cements commercial ties with India

Stage Two of the UAE National Rail Network continues to be developed on schedule. Customers will benefit from customised service scheduling solutions. Additionally, the company will deliver specialised wagons which can handle a wide variety of freight.

The agreement signed with AGIS demonstrates Etihad Rail’s sustained role in delivering additional value to the UAE’s and the GCC’s logistics sector through its sustainable rail network. The network will additionally offer long-term support for the UAE’s economic growth, offering innovative, competitive, and reliable transport and freight solutions across the region.

Etihad Rail has successfully concluded a range of agreements with companies in other sectors, including energy and quarrying, but is looking to grow partnership agreements with companies focused in the iron and steel sector.

Categories
Business Dubai UAE News

Dubai set for the first and largest Megamarket

DOM LULU

Dubai Outlet Mall, the Ultimate Value Shopping Destination, is set to solidify its position as an industry leader while consistently redefining value shopping in the MENA region…reports Asian Lite News

As the Dubai Outlet Mall expansion nears its opening, a strategic alliance is formed with Lulu Group for the region’s first and largest Megamarket spread featuring the most competitive value shopping experience.

The MENA region lacks its version of the cash and carry concept. This new partnership will leverage on bulk buying prices. The cash and carry concept offers UAE residents/shoppers exclusive bargains as well as a broad range of low cost, high value products at competitive prices focused on merchandise quality, wide selection as well as customer ease and convenience.

DOM LULU

The expansion of Dubai Outlet Mall is purely organic and once open will be over 3.5 million sq. ft. making it the largest outlet mall in the world.  The expansion is an evolution of a successful vision of the first Value Shopping mall in the region offering more Bargains, Brands, Cinema, Megamarket, Community space and World Class Entertainment at the largest purpose-built state-of-the art 117 Live Arena for concerts in the region. Dubai Outlet Mall is currently experiencing increased footfall of local residents with the growth of the immediate catchment area and community.

Lulu Group, after proper research and review made this strategic decision to partner with Dubai Outlet Mall to offer mutually focused value shopping to shoppers.

ALSO READ: Dubai’s newest wholesale market opens

The progressive partnership shows strong confidence by Lulu Group in the potential of the new mall expansion and reflects a positive future ahead for over 1.2 million residents in the immediate catchment area looking for value shopping and year-round bargains from premium and top fashion and lifestyle brands. Shoppers look for the best possible value of the product or service through discounts, bundle offers and consumer ease and convenience.

MR. YUSUFF ALI M.A, CHAIRMAN& MANAGING DIRECTOR, LULU GROUP: “Our aim is to enhance the retail experience for our customers within prestigious developments in the buoyant retail sector and Dubai Outlet Mall has provided us the perfect platform `to present to the region the latest in value retail. We are confident in the demand for bargains and cash and carry goods and look forward to being pioneers together in this area of retail.”

Mr. Ali Khammas , Executive Director  of Dubai Outlet Mall , said: “To further strengthen the mall’s value proposition and omnichannel experience, we support the evolution of a successful first value shopping mall in the region. Our partnership with lulu Group International aims to set new industry standards in the value shopping space and enhance our position as an industry leader with an advanced value shopping experience to visitors and neighbouring communities.”

Since its opening in 2007, Dubai Outlet Mall has made its mark as the FIRST value shopping concept mall in the MENA region. It has been home to over 1300 premium brands with over 240 stores. Successfully providing value shopping in the UAE, Dubai Outlet Mall has gained the trust of luxury brands known all over the world. As the Ultimate Value Shopping Destination, it caters to a wide customer base across residents of different nationalities and visitors from all over the globe.

Categories
Business Sharjah Woman

Women’s involvement in the socioeconomic journey

Women’s involvement in the socioeconomic journey

The role of businesswomen in Sharjah contributes as drivers of the emirate’s economic advancement…reports Asia Lite News

Her Highness Sheikha Jawaher bint Mohammed Al Qasimi, wife of the Sharjah Ruler, and Chairperson of NAMA Women Advancement Establishment (NAMA) has highlighted the vital role of businesswomen in Sharjah and commended their key contributions as drivers of the emirate’s economic advancement. The passion, innovation, and creative ideas of female business-owners and entrepreneurs have attracted sizeable investments, helped strengthen and diversify the local economy, and left a distinctive mark on Sharjah’s socioeconomic journey, the NAMA Chairperson further asserted. 

These statements were made during Her Highness’s visit to the new HQ of Sharjah Business Women Council (SBWC), a NAMA affiliate. HE Reem BinKaram, Director of NAMA, and HE Mariam bin Al Shaikh, Acting Manager of SBWC accompanied Sheikha Jawaher Al Qasimi on the tour, during which they met the team at SBWC working to realise the vision of Her Highness to advance and empower women in academics, professions, the economy and society.

Women’s involvement in the socioeconomic journey

Being briefed on NAMA’s and SBWC’s efforts in the first half of 2021, Sheikha Jawaher Al Qasimi lauded the achievements of both entities in implementing targeted projects and initiatives for women’s empowerment in various fields. The NAMA Chairperson was also offered an overview of the entity’s future plans and strategies to further fuel the role of women in Sharjah’s economy via optimal investments in human capital and providing effective solutions for businesswomen in the emirate.

Addressing the NAMA and SBWC teams, Her Highness said: “In the course of overseeing your integrated efforts towards achieving a common goal, I have seen the tremendous results produced by the qualified cadres here who bring passion and purpose to work every day. You have all exceeded expectations in advancing the various services we provide to businesswomen and female entrepreneurs in Sharjah. I am proud of you all and trust that NAMA’s mission and vision are in safe hands.”

ALSO READ: High digitalization among women-owned businesses

“The impact of women’s contributions to boosting local and national economic performance keeps intensifying, putting greater responsibility on all of us to keep improving the tools, mechanisms, training and support we provide the community of female business professionals to boldly face the challenges in their respective fields,” Sheikha Jawaher Al Qasimi added.  

https://asianlite.com/2021/woman/high-digitalization-among-women-owned-businesses/

The NAMA Chairperson continued: “NAMA is putting in great work to steadily design and implement initiatives that embody the vision of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, whose unwavering support to consolidate and activate the role of women in the business and entrepreneurial sectors of Sharjah has been a key factor for NAMA success in creating a thriving environment for ambitious businesswomen. The need to support and empower women to break stereotypes and overcome challenges that prevent them from realising their ambitions cannot be overemphasised.”

For her part, Reem BinKaram said: “This visit by Her Highness and the reviewing of our plans, efforts and achievements in the past year is a reflection of the guidance and support Sheikha Jawaher has always honoured us with. Since the beginning of our journey, Her Highness has been keen on overseeing the strategic plans and implementation mechanisms we have designed and developed to boost Sharjah’s professional environment for women.”

Towards the end of the tour, HE Marian Rashid bin Al Shaikh narrated to Sheikha Jawaher Al Qasimi the success stories of SBWC’s members in launching a diversity of brands and enterprises with the help of the entity’s well-rounded training, support ad consultative services. SBWC has been mentoring businesswomen and female entrepreneurs at different stages of their careers by providing training, workshops, key advice as well as administrative services to get set up.

Categories
Arab News Business Woman

High digitalization among women-owned businesses

Women entrepreneurs lead the way in digital presence

An 80% of women entrepreneurs across the Middle East and Africa have a digital business presence according to MasterCard MEA SME Confidence Index…reports Asian Lite News

Despite the gender gap and social challenges, entrepreneurial women across the world and in the Middle East and Africa (MEA) are leading the way in tapping into the power of the digital economy to succeed and grow. In new research by Mastercard, women-owned small and medium enterprises (SMEs) believe there are huge benefits of a cash-free economy to their businesses.

According to the inaugural Mastercard MEA SME Confidence Index, 81% of the region’s women entrepreneurs have a digital presence for their businesses, compared to 68% of their male counterparts. In terms of the digital footprint of the region’s women entrepreneurs, social media (71%) leads the way, followed by a company website (57%). In the Middle East and North Africa, more women entrepreneurs had a website (71%) than a social media presence (55%).

Women entrepreneurs lead the way in digital presence

These findings are aligned with Mastercard’s global commitment to connect 25 million women entrepreneurs to the digital economy by 2025, as part of its goal to build a more sustainable and inclusive world. 

“The Mastercard MEA SME Confidence Index revealed that over 80% of women entrepreneurs have digital readiness for their business compared to their male counterparts but yet so few have access to funding for their business growth. Globally, women-owned businesses are well represented in the entrepreneurship space, yet it is estimated* that they only access between 2 and 10% of commercial bank finance. This reflects the huge potential SME women entrepreneurs have when we accelerate their access to financial and digital tools which will enable greater gender parity in the business ecosystem,” said Amnah Ajmal, Executive Vice President, Market Development, Middle East and Africa, Mastercard.

From presence to payments, digital and cash-free economy leads

According to the Mastercard survey, confidence levels around digital transactions are high with 30% of women entrepreneurs in MEA experiencing no challenges in accepting more payments digitally versus cash payments-especially mobile payments (62%), online payments (57%), and card payments (45%).

In Southern Africa, this confidence is further elevated with two-thirds (67%) seeing no challenges to accepting more payments digitally.

Growing confidence levels in digital as a business imperative, is tied to a deeper understanding and wider recognition among SMEs of the advantages that result from a growing digital economy. When asked about the biggest benefits of a cash-free economy to their businesses, women entrepreneurs highlighted the increased efficiency of transactions across multiple channels (60%) and the ease of not handling or processing cash (60%).

They also appreciated having a more convenient way of paying suppliers and employees (59%), faster access to revenues (55%), less potential for fraud (53%) and access to new business growth opportunities (50%).

Women entrepreneurs are innovative risk-takers

In the 2020 Mastercard Index of Women Entrepreneurs (MIWE), evidence already emerged of how women business owners have reacted to a new world of work with renewed confidence and adaptability, tapping into new business opportunities or realigning their business models to cater to new consumer behavior and local or global needs.

Despite challenges around funding, support and attention, Uganda, Botswana, and Ghana were ranked as the world’s three leading economies having the most women business owners (WBO) as a percentage of total business owners in the 2020 MIWE.

The report also mentioned high regard for risk taking, innovativeness, individuality, and creativity in entrepreneurship prevalent in Nigeria and Angola. Growing the contribution of women entrepreneurs is a positive sign, as almost half of the female entrepreneurs (48.7%) around the world report being driven by a desire to contribute to the greater societal good.

ALSO READ: Investor Lauds ‘business-friendly UAE’

In addition to empowering women-led businesses everywhere with digital payments acceptance tools, Mastercard is also advancing social progress through financial literacy training to encourage the growth of entrepreneurship among women:

•             Sarah Beydoun, owner of a social impact fashion business in Lebanon, was one of the women entrepreneurs featured in the award-winning Mastercard documentary FIVE – just one of the technology company’s initiatives to encourage by collaborating with inspiring entrepreneurs who are making a positive change.

•             Through its partnership with Junior Achievement South Africa, Mastercard has empowered over 3,000 women to gain entrepreneurial skills, start their own ventures and create new jobs.

•             The Mastercard Center for Inclusive Growth awarded a seed funding grant to The Omaness Skinfood Company, which will empower 10,000 women entrepreneurs in Nigeria to run their own skinfood merchant businesses.