Powerful Business People Bringing Nations Together

The Arab world is fast becoming a melting pot of business action and economic growth, fueled by the area's growing legion of powerful business people.

The project seems to be broadly modelled on the ‘free zone' concept pioneered in Dubai

Last Updated : Mar 16 2018 | 12:25 PM IST

The Arab world is fast becoming a melting pot of business action and economic growth, fueled by the area’s growing legion of powerful business people. These executives are playing vital roles as global influencers, and even though most of their work takes place behind the scenes, they are changing the rules of the game in international relations. While politicians are talking and theorizing, these execs are proactively creating sustainable multinational collaborations. With the new year just around the corner, let's take a look at three business leaders who are bringing hope to their region and bridging the divide between the East and the West.

Ronaldo Mouchawar

Born in Aleppo, Syria, Ronaldo Mouchawar is an award-winning entrepreneur. He received the Gulf Business Industry Award for CEO of the Year in 2013 and the Entrepreneur of the Year award in 2015. Mouchawar has significant experience in technology and business management and spearheaded a consulting firm that managed several Middle Eastern internet and e-commerce projects. He was also responsible for establishing White Friday sales in the region, which coincide with Black Friday in the US. Launched in 2014, the first White Friday raised over US$275.

Driven by his mission to connect the Arab world with the West through international trade, Ronaldo Mouchawar founded the Dubai based Souq.com in 2005. Today, Souq is recognized as the biggest e-commerce platform in the Arab world. It received the largest ever funding deal in the Middle East and was subsequently acquired by Amazon in March 2017. Official details haven't been released, but US news sources estimate the acquisition was in the $650 million ballpark. On December 10th Amazon launched a Global Store on the Souq.com platform, making over a million new products available to the UAE audience.

Mazen Al Sawwaf

Born in Saudi Arabia, Mazen Al Sawwaf began his career in 1981 by founding a road signage and construction company in his homeland when he was only 19. Five years later he left for a different construction company, which he acquired and rebranded within less than 10 years. Not long after he took over, the company became one of the leading construction companies in the region. Over the years he expanded into real estate, renewable energy and vehicle production and collaborated with numerous European conglomerates, bringing their knowhow and services to the Middle East.

Together with former French President François Hollande, Al Sawwaf sponsored the 2015 Paris Thinkers & Doers Forum, in which he also participated. For the first time, the forum gathered 22 of the top business magnates and civil society leaders of the Arab world to discuss regional growth in tech, education, urban development and more. He has several close contacts in the French business and political arenas, and was recently described by French media as a true trailblazer with a strong network of influence in Paris. As the point person in Saudi Arabia for French businesses, he has formed multinational partnerships with companies like Thales, Veolia, Dassault, Areva and EDF Energy. In 2011 Laurent Fabius, former prime minister of France, awarded him the French Legion of Honor for his contribution to the Saudi French Business community. Al Sawwaf has also contributed significantly to healthcare in his country by founding Al Hassan Medical Equipment – the first assistive technology manufacturer in Saudi Arabia - and facilitating the establishment of LFB Arabia.

Nezha Hayat

While she was born and raised in Morocco, Nezha Hayat began her career in the Spanish financial sector not long after graduating from the ESSEC International Business School in 1984. During her time in Spain, she held a number of managerial posts, focusing on corporate finance and international risk assessment, before returning to her country almost a decade later. Her first post in Morocco was as Deputy Director of the Tangiers Offshore Branch, where she served from 1993 until 1995. Hayat is committed to helping Arab women break the glass ceiling and achieve corporate positions. She is among the founders of CFA Morocco, a forum of leading female executives from the Middle East and North Africa who advocate for women's right to play a bigger part in the region's private and public sectors. In 2007 Hayat joined the management of Societe Generale, Casablanca and became the first woman to serve on a bank management board in Morocco. She was appointed CEO and Chairwoman of Morocco's Capital Market Authority in 2016.

Bridging the Gap

Mouchawar, Al Sawwaf and Hayat are only three of the many Arab business people who are streamlining international trade relations. Their efforts are not only having a knock-on effect on the region’s entrepreneurial ecosystem, they're opening up cross-border channels like never before.

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First Published: Jan 02 2018 | 9:08 PM IST

Powerful Business People Bringing Nations Together

The Arab world is fast becoming a melting pot of business action and economic growth, fueled by the area's growing legion of powerful business people.

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