INTERVIEW: Gender equality will only come about if men are also committed to it, says She is Arab founder

SAMAR ALSHORAFA. (Illustration by Luis Grañena)
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Updated 07 January 2020
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INTERVIEW: Gender equality will only come about if men are also committed to it, says She is Arab founder

  • An entrepreneurial background was in my DNA, and after I graduated I was passionate about international development
  • The firm is not just a speakers’ bureau, though it certainly is that, with around 100 of the region’s most successful female business executives and entrepreneurs on its books

It is the time for New Year resolutions, and this is mine: To interview more women for Arab News in this weekly slot.
I’ve said the same thing for several years running, only for my best intentions to fall through. There were more men available for interview, in positions of power and influence that made them natural subjects. Only 5 percent of the top 500 chief executives are women, according to Forbes magazine.
Not only are there fewer women available at the top of the executive tree, but many I approached were reluctant to appear in the public spotlight. There was a natural shyness, or a reluctance to appear in the media.
The problem is exacerbated in the Arab world. On more than one occasion, a woman who had agreed in principle to be interviewed came back to me later to reverse her decision because her father, or husband, or boss (invariably male) was against it. “They don’t want to see my picture in the papers” was a reason frequently cited.
I told Samar Alshorafa — who last year launched She is Arab, a public speaking and professional development business to serve the Middle East’s growing number of aspirational women — about my past failures and current ambitions, and she put her finger on the issue.
“I used to be one of those women. A lot of people don’t like speaking in public. They are naturally shy. It even has its own term — glossophobia — fear or anxiety about public speaking. But there are also societal and cultural barriers in the region that mean there are not enough women willing to assume a public role,” she said.
“This has meant that the big forums and conferences of the Middle East are still dominated by male speakers, and also that the women who are willing to take the stage are in excessive demand. Articulate women are over-invited and over-exposed. You see the same female faces time and again at events in the region,” she said.
The daughter of an entrepreneurial Palestinian family, she attended the American University in Cairo where she studied economics, but she felt hindered by a natural shyness and the absence of women she could identify as role models, especially in the business world.
“An entrepreneurial background was in my DNA, and after I graduated I was passionate about international development. I traveled widely across the Middle East and North Africa, and came across lots of amazing women I didn’t know were there. The role models I had grown up with were mainly from royalty, or were family members like mothers and aunts. But in Morocco, Egypt and Tunisia I found them in business too.
“The women are there, so it is not that they do not have a voice. I decided that the problem was that they do not have a platform on which to make their voice heard,” she added.
With a university friend — Noha Hefny, who shared her journey from Cairo via posts at some of the leading global policy organizations such as the UN, the International Finance Corporation, European Commission agencies and the Mohamed Bin Rashid Al Maktoum Foundation — she decided to do something about it. She is Arab, the firm launched last October after years of planning, is the response.
The firm is not just a speakers’ bureau, though it certainly is that, with around 100 of the region’s most successful female business executives and entrepreneurs on its books. It also provides training, consultancy and professional development services, as well as bespoke research for its clients. “It is a call to action,” Alshorafa said.
The start-up is certainly in tune with a changing global philosophy resonating throughout the Middle East. Female empowerment has become one of the big issues in global business, and a crucial part of the United Nations’ Sustainable Development Goals.
Governments in the UAE, Saudi Arabia and other countries have been waking up to the fact that there is an abundance of expertise and motivation among their female citizens, and have been taking steps to make the most of that latent talent, even if belatedly.
The UAE currently has nine female ministers of state, accounting for 28 percent of cabinet seats, and there was a recent decree to require 50 percent female representation in the Federal National Council. Last year the UAE pledged $15m to the UN’s gender equality programs.
A similar impetus is evident in Saudi Arabia, where Alshorafa is spending an increasing amount of her time. “Female employment in the private sector has increased by 130 percent since 2013, and we expect it to double again over the next few years. There has been a big increase in women’s employment in the retail and tourism sectors, at all levels, from junior roles dealing with the public to the senior executive leadership,” she said.

BIO

BORN Cairo, 1980

EDUCATION American University of Cairo, Economics with minors in business and international relations

CAREER Business Developer, Techno Group

Consultant, Abu Ghazaleh & Co. Consulting

Policy Reform Officer, Industrial Modernization Center

Operations analyst, International Finance Corporation

Manager, Mohammed Bin Rashid Al Maktoum Foundation

Gulf Region representative, Education for Employment

Co. founder, Hill Capital Group

Adviser and Chief Strategy Officer, Farm Food for Food Industries

Co-founder, She is Arab

She pointed to several women in senior positions within the Kingdom’s business community, and highlighted the work of Norah Faisal Alshaaban, a Saudi entrepreneur and member of the Shoura Council who has been working to prepare women for the growing opportunities of the labor market, expanding fast under the stimulus of the Vision 2030 strategy to diversify the economy.
“There is no shortage of talent in Saudi Arabia. I have met some amazing women there. The Kingdom invests a lot in education, and around 50 percent of all graduates are women. The business case for employing more women is there for all to see. In the past, Saudi Arabia’s great natural resource was oil — now it is the women of the Kingdom,” she said.
There is progress in gender equality in other areas too in the region. “Manels” — forum panels with only male speakers present — are increasingly a thing of the past.
“We’ve seen more men refusing to speak at events unless there are women present too, and that is a good thing. Gender equality will only come about if men are also committed to it,” Alshorafa said.
She is Arab also offers guidance to men who want to become “champions of diversity, to train men in techniques to become more inclusive.”
It is not simply a matter of getting more women up on stage to speak, however. In a survey of 70 female executives conducted before the launch of She is Arab, only nine had ever been paid for public speaking, she found.
“Some women feel uncomfortable asking for a fee for their speaking services or feel they should do it for free in return for the exposure. Sometimes, we recommend a woman should offer her services in return for the public exposure it brings, but that is not how it should always be,” she said.
She Is Arab is a business as much as a vehicle for the advancement of women. Incorporated in the In5 Tech start-up hub in Dubai Internet City, it gets revenue from commission from speakers, training fees, as well as consultancy fees for advisory services.
“There are multiple revenue streams,” Alshorafa said, adding that it was too early to talk about a range of speakers’ fees. Globally, top-paid speakers can make hundreds of thousands of dollars for a few hours’ work, but even the elite speakers’ bureaus now recognize there are business opportunities in the middle and lower-paid segment of the market.
Public speaking is a growing business, especially for women, and especially in the Middle East, as Alshorafa explained. Among a female population of more than 200 million, her research found that only 10 percent had any interest in public speaking. “But that is still more than 20 million women. So there is no shortage of talent, and I’d like to see as many of them as possible on the public stage.
“Everyone is on the planet for a reason, and we can all learn from other people’s stories. I would urge all women to go out there and share your story,” she said.
And, if they would like to share their stories with Arab News, they would help me keep my resolution for 2020.

 


Saudi Aramco secures $9bn in deals on first day of iktva forum

Updated 12 min ago
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Saudi Aramco secures $9bn in deals on first day of iktva forum

  • 145 agreements signed in one day mark a leap toward strengthening local industries

RIYADH: Saudi Aramco has secured 145 agreements and memorandums of understanding worth an estimated $9 billion on the opening day of the In-Kingdom Total Value Add Forum and Exhibition 2025. 

These deals are expected to drive the localization of products and services in Saudi Arabia, enhancing local content in the supply chain and fostering collaboration.

The agreements align with the core objectives of iktva, which aim to enhance supply chain efficiency and add value across Saudi Aramco’s operations.

By increasing local content, the program helps develop a more diverse and competitive energy industry in the Kingdom. It also supports the strategic goal of retaining 70 percent of procurement spending within Saudi Arabia, directly benefiting local businesses.

On its first day, the event highlighted 210 localization opportunities across 12 sectors, with a combined annual market value of $28 billion. These opportunities are seen as key to driving long-term industrial growth and reducing reliance on imports.

During the event, Saudi Aramco President and CEO Amin Nasser reflected on the company’s progress, noting that Aramco achieved a 67 percent local content score for its procurement of goods and services in 2024, up from just 35 percent in 2015. 

“Since launching iktva in 2015, we’ve made significant strides. Back then, most of our materials and services were sourced from outside Saudi Arabia,” Nasser said. 

Nasser emphasized that the success of iktva depends on its ability to create value for all stakeholders. 

“For Aramco, a largely localized supply chain ensures continuity and helps us navigate operational challenges more effectively,” he said. “Since 2015, iktva has contributed over $240 billion to Saudi Arabia’s GDP and led to the creation of 350 local manufacturing facilities with investments totaling more than $9 billion.”

These new facilities cover a range of sectors, including chemicals, non-metallics, information technology, electrical and instrumentation, and drilling. As a result, 47 products are now being manufactured for the first time in Saudi Arabia.

Saudi Energy Minister Prince Abdulaziz bin Salman also addressed the gathering, announcing the Kingdom’s plans to enrich and sell uranium. “We’re committed to monetizing all our mineral resources, including uranium,” the minister said. “By enriching and selling uranium, along with producing yellowcake, we will secure essential raw materials for energy security.”

Prince Abdulaziz discussed the future of the petrochemical sector, emphasizing the importance of producing more advanced chemicals. “The future of petrochemicals is not just about plastics or polymers. We’re aiming for better, more sophisticated chemical products,” he noted.

Saudi Energy Minister Prince Abdulaziz bin Salman. SPA

Looking ahead, the energy minister spoke about potential collaborations with Egypt, indicating that a roadmap for joint ventures would be outlined in February. “We have much to look forward to with Egypt,” he said.

In a separate panel, Prince Abdulaziz highlighted the role of integrated collaboration between sectors in achieving the Kingdom’s Vision 2030.

He explained that major energy expansion projects are key to supporting industrial development by providing diverse energy sources and offering competitive prices for gas feedstock.

This, he added, would help stimulate the growth of manufacturing and facilitate the transition to cleaner energy.

Saudi Investment Minister Khalid Al-Falih also spoke during the ministerial dialogue session, stressing that standardized incentives for the industrial sector are critical to achieving Vision 2030.

These incentives, he said, will help accelerate the creation of new industrial facilities and strengthen local supply chains at all stages of the value chain, making Saudi industries more competitive.

The first day of the forum also saw the launch of ASMO, a joint venture between Saudi Aramco Development Co. and DHL. The new venture aims to transform the procurement and supply chain landscape across the Middle East and North Africa region.

Additionally, the opening ceremonies for the Novel Non-Metallic Solutions facility at King Salman Energy Park and the NMDC Offshore Fabrication Yard at Ras Al-Khair were held.

Novel, a partnership between Aramco and Baker Hughes, is focused on introducing a range of composite products to the market, while the NMDC fabrication yard will provide maritime engineering services and fabricate equipment and materials.

Running from Jan.13-16 in Dammam, the iktva Forum continues to spotlight critical infrastructure projects and collaborative opportunities aimed at advancing the local supply chain ecosystem and supporting the Kingdom’s long-term industrial goals.


Saudi entertainment authority unveils 29 investment opportunities  

Updated 13 January 2025
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Saudi entertainment authority unveils 29 investment opportunities  

RIYADH: Saudi Arabia’s General Entertainment Authority has unveiled 29 investment opportunities targeting six key sectors of the industry. 

The initiative, in collaboration with the Ministry of Investment, aims to expand the Kingdom’s entertainment landscape while fostering private sector participation and aligning with Vision 2030 objectives. 

The targeted sectors include facilities, destinations, water parks, adventure parks, virtual reality parks, and e-gaming centers. 

These opportunities are designed to enhance growth in the entertainment sector, drive economic diversification, and promote sustainable development. 

According to the GEA, the initiative also seeks to empower the private sector within Saudi Arabia and internationally, while improving the quality of life for citizens and residents. 

By focusing on infrastructure development across these entertainment segments, the initiative reflects Saudi Arabia’s strategic commitment to becoming a global entertainment hub. This effort also supports the Quality of Life Program, which is a core pillar of Vision 2030. 

These investment initiatives are set to play a significant role in boosting the sector as projections indicate that the sector will generate 450,000 jobs and contribute 4.2 percent to the country’s gross domestic product by 2030. 

Vision 2030 aims to transform Saudi Arabia’s entertainment sector by increasing household spending on recreation from 2.9 percent to 6 percent by 2030. 

It seeks to generate over SR120 billion ($31.9 billion) in investments, create 100,000 direct and indirect jobs, and enhance the sector’s contribution to the economy. 
 


Saudi Arabia, Oman to strengthen financial ties with new agreement

Updated 13 January 2025
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Saudi Arabia, Oman to strengthen financial ties with new agreement

  • Saudi Minister of Finance Mohammed Al-Jadaan and his Omani counterpart, Sultan Al-Habsi, signed deal to enhance cooperation in financial affairs
  • Areement underscores commitment of Riyadh and Muscat to collaborate on advancing shared financial sector goals

JEDDAH: Saudi Arabia and Oman are set to strengthen financial ties with a new agreement aimed at enhancing cooperation and facilitating the exchange of information and expertise. 

The deal, signed during the board of governors’ retreat of the Islamic Development Bank Group in the city of Madinah, aims to improve financial policies, governance in the public sector, and joint coordination on regional and international issues. 

Saudi Minister of Finance Mohammed Al-Jadaan and his Omani counterpart, Sultan Al-Habsi, signed a memorandum of understanding to enhance cooperation in financial affairs between the two countries, according to a statement from the Saudi Finance Ministry. 

This comes as Oman’s non-oil exports to Saudi Arabia have more than doubled since 2020, surpassing 1 billion Omani rials ($2.6 billion) by the end of 2023, according to Oman’s National Center for Statistics and Information. Non-oil imports from Saudi Arabia also grew, reaching 1.84 billion rials in the same period. 

Al-Jadaan said “this MoU represents a significant step in the ongoing efforts to deepen financial collaboration between the two brotherly nations,” 

He added: “it will pave the way for the exchange of financial expertise, the promotion of knowledge-sharing, and the fostering of closer economic ties.” 

Al-Habsi underscored the importance of the MoU as “a cornerstone for enhancing bilateral relations.” 

He said that “it will facilitate the exchange of financial information and expertise while strengthening coordination between Saudi Arabia and Oman on regional and international financial issues of mutual interest.” 

The agreement underscores the commitment of Riyadh and Muscat to collaborate on advancing shared financial sector goals, further strengthening the ties between the two nations, the release added. 

In October 2024, the two countries signed a deal to enhance economic and planning cooperation, focusing on medium and long-term strategies, monetary policies, and economic studies. 

The five-year agreement was finalized by Saudi Minister of Economy and Planning Faisal Al-Ibrahim and Omani Minister of Economy Said bin Mohammed Al-Saqri. 

Earlier in April 2024, another MoU was signed during a meeting between Al-Habsi and Sultan bin Abdulrahman Al-Marshad, the CEO of the Saudi Fund for Development. 

The agreement centered on joint development projects, including initiatives in infrastructure, higher education, vocational training, and key industries, including mining, transportation, communications, and energy. 


Closing Bell: Saudi main index sheds points to settle at 12,109.94 

Updated 13 January 2025
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Closing Bell: Saudi main index sheds points to settle at 12,109.94 

RIYADH: Saudi Arabia’s Tadawul All Share Index lost on Monday, dropping 17.03 points, or 0.14 percent, to close at 12,109.94.  

The total trading turnover of the benchmark index was SR5.77 billion ($1.53 billion), as 114 of the listed stocks advanced, while 119 retreated.

The MSCI Tadawul Index also dropped by 2.34 points, or 0.15 percent, to close at 1,509.67.  

The Kingdom’s parallel market Nomu increased, gaining 194.91 points, or 0.63 percent, to close at 31,234.44. This comes as 43 of the listed stocks advanced while 46 retreated.  

Buruj Cooperative Insurance Co. was the best-performing stock of the day, with its share price surging by 9.95 percent to SR22.54.  

Other top performers included United International Holding Co., which saw its share price rise by 7.97 percent to SR187, and Gulf General Cooperative Insurance Co., which saw a 4.38 percent increase to SR11.44.  

Saudi Cable Co. and Saudi Industrial Investment Group also saw a positive change, with their share prices surging by 4.06 percent and 4 percent to SR107.60 and SR17.68, respectively.

Fawaz Abdulaziz Alhokair Co. saw the steepest decline of the day, with its share price easing 5.56 percent to close at SR14.60.

Jamjoom Pharmaceuticals Factory Co. and Middle East Specialized Cables Co. recorded declines, with their shares slipping 4.05 percent and 3.50 percent to SR156.20 and SR42.70, respectively.  

National Medical Care Co. also faced a loss in today’s session, with its share price dipping 2.93 percent to SR159.20. 

On Nomu, Multi Business Group Co. was the best performer, with its share price rising by 13.64 percent to reach SR18.50.  

Alqemam for Computer Systems Co. also delivered a strong performance, with its share price rising by 9.28 percent, to reach SR93, while First Avenue for Real Estate Development Co. saw a 7.27 percent increase to end the session at SR9.44.  

Albattal Factory for Chemical Industries Co. also fared well, with a 7.07 percent rise to SR62.10, and Alfakhera for Mens Tailoring Co. increased by 6.62 percent to SR6.60. 

Al-Razi Medical Co. shed the most on Nomu, with its share price dropping by 10.58 percent to reach SR60.  

Quara Finance Co. experienced a 6.30 percent decline in share prices, closing at SR18.74, while Advance International Co. for Communication and Information Technology dropped 4.98 percent to settle at SR4.20. 

Meyar Co. and Intelligent Oud Co. for Trading were also among the top decliners, with Meyar Co. falling 4.70 percent to settle at SR70.9 and Intelligent Oud Co. for Trading declining 4.13 percent to SR51.10. 

On the announcement front, Nofoth Food Products Co. has received board approval to transition from the Nomu-parallel market to the main market, according to a bourse filing. 

The company noted that the move remains subject to Tadawul’s approval, as well as compliance with all listing rules and requirements. 

Estidamah Capital has been appointed as the financial adviser for the proposed transition. Nofoth Food Products stated that any material developments regarding the process will be disclosed in accordance with regulatory requirements. 

Nofoth Food Products Co. saw a 0.68 percent drop in its share price on Monday to settle at SR20.46. 


Saudi Arabia unveils 15 new incentives to boost exports, logistics 

Updated 13 January 2025
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Saudi Arabia unveils 15 new incentives to boost exports, logistics 

RIYADH: Saudi Arabia has rolled out 15 new incentives under the Authorized Economic Operator program, to boost export competitiveness, enhance supply chain security, and advance the Kingdom’s ambitions as a global logistics hub.

The Ministry of Industry and Mineral Resources announced the incentives, which include key administrative benefits such as assigning liaison officers and account managers to streamline processes for investors and address challenges more efficiently.

As part of the program, companies will also gain access to industrial land, with long-term leases of up to 30 years, and eligibility for the “Custom Factory on Demand” service. These measures are designed to support industrial expansion and strengthen the Kingdom's position in global trade.

This announcement follows the ministry’s earlier declaration of an allocation of SR10 billion ($2.66 billion) to activate the Standard Incentives Program for the industrial sector. This funding, approved by the Saudi Cabinet in December last year, is intended to foster industrial investment, stimulate growth, and contribute to the sustainable development of Saudi industry.

The new incentives will also streamline procedures for investors, including expedited processing and priority access to pre-developed industrial lands and factories. Additionally, companies will be given preferential eligibility for incentives provided by the Saudi Export Development Authority.

Further financial support is available through the Saudi Industrial Development Fund, which can cover up to 75 percent of project costs. SIDF offers extended financing with repayment terms of up to 20 years and grace periods of up to 36 months. Eligible companies can also access advisory services and training programs from SIDF’s industrial academy.

The AEO program is a cornerstone of Saudi Arabia’s broader strategy to enhance customs and logistics services, simplify trade processes, and improve the efficiency of supply chains.

The initiative not only aims to bolster the position of Saudi companies as global leaders but also seeks to attract both local and foreign investments, especially benefiting small and medium-sized enterprises.

Launched by the Zakat, Tax, and Customs Authority, the Saudi AEO program aligns with global trade frameworks used by over 80 countries. It offers businesses that adhere to secure trade standards smoother operations in the international customs environment.

On Jan. 11, ZATCA expanded the program into a national initiative, integrating 15 government entities into the effort.