< Previous110 100 Most Inspiring Leaders — September 2024 100 Inspiring Leaders 2024 With a rich professional history dating back to 1991, Ala’a Mohamed Atta Khalil Eraiqat’s tenure in the banking industry has been underscored by notable stints at prestigious financial institutions such as Citibank and Standard Chartered Bank. He embarked on his journey with ADCB in 2004 and ascended through the ranks, assuming his current role in February 2009. Leveraging his extensive experience and expertise gained over nearly three decades as a banker, he has made significant contributions to the growth and strategic direction of ADCB. ADCB has witnessed a significant surge in its value over the last year, recording an impressive 8.7 percent increase to reach $2.86bn by the year 2024. This remarkable growth was underscored by a recent report from Finance Brand, a leading global consultancy specialising in brand valuation. Steered by Eraiqat’s leader ship, the bank wa s acknowledged as one of the top 10 financial institutions in the world. ADCB ranked as the top financial institution for customer experience excellence and the second across all sectors in the latest annual survey conducted by KPMG Lower Gulf. A holistic approach to customer satisfaction, combining excellent services, diverse product offerings, technological innovation, operational efficiency, and a strong focus on security and trust has enabled ADCB to earn the top slot, according to KPMG’s annual Customer Experience Excellence (CEE) report. The bank has continuously invested in advanced technology to support its growing customer base while recognising the importance of personal interaction with customers. As part of ADCB’s focus on building a future- ready bank, it continues to invest significantly in its digital transformation programme driving scalable growth, higher productivity, and enhanced customer experience. In addition to his prominent position as CEO, Eraiqat shoulders additional responsibilities that reflect his multifaceted leadership role within the organisation. He assumes the prestigious role of chairman of the Board of Directors of Al Hilal Bank, fur ther exemplifying his commitment to driving strategic initiatives and overseeing the growth of affiliated entities. Fur ther more, Eraiqat presides over a myr iad of subsidiaries and committees within ADCB, including key entities such as Abu Dhabi Commercial Properties and Abu Dhabi Commercial Engineering Services. His leadership extends to chairing essential committees within the institution, such as the ADCB Management Executive Committee and the ADCB Management Credit Committee, where his vision and decision-making prowess help shape the bank’s operational framework. Beyond his responsibilities within ADCB, Eraiqat’s influence extends to the broader financial and business landscape in Abu Dhabi. As a board member of the Abu Dhabi Chamber, he plays a key role in guiding strategic initiatives that drive economic growth and development within the region. He also serves as the chairman of the Abu Dhabi Chamber Audit & Compliance Committee and holds a board membership at Abu Dhabi National Hotels PJSC (ADNH), where his exper tise contr ibutes to the organisation’s strategic direction and governance. Ala’a Mohamed Atta Khalil Eraiqat CEO Abu Dhabi Commercial Bank (ADCB) Banking 67 ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 110ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 11028/08/2024 12:3428/08/2024 12:34arabianbusiness.com111 100 Inspiring Leaders 2024 Phil Malem is the CEO of Serco in the Middle East, where he leads the region’s operations, a legacy that began in 1947. As of July 2024, Malem also began an additional role as CEO of Serco’s inter- national advisory business, with the external launch of this new venture pegged for September. Since joining Serco in April 2019, Malem has been the driving force behind the company’s purpose. He has success- fully repositioned the business with a strategic focus on growth, innovation, and impacting a better future. His lead- ership has been pivotal in assembling the right talent, tech- nology, and partnerships to address some of the region’s most complex challenges. Under his guidance, Serco has expanded its operations, secured vital contracts, and consist- ently delivered excellence. Malem’s leadership is defined by care, consideration, and a deep understanding of the market. He has also been a passionate advocate for Diversity, Equity, and Inclusion (DEI), with women now making up 50 percent of the leadership team and significant initiatives in place for People of Determination (PODs). Commitment to innovation Malem’s tenure at Serco has seen the intro- duction of new service lines that align with the visions of the UAE and Saudi leadership. He was instrumental in launching Expe- rienceLab in the Middle East, a consultancy that creates world-class, user-centric experi- ences driven by data and the latest insights, showcasing Serco’s commitment to innova- tion and capability transfer. As CEO, Malem is dedicated to delivering exceptional client service across the sectors in which Serco operates. His focus is on supporting essential public services by lever- aging both international expertise and local market knowledge. A strong advocate for nationalisation, Malem’s contributions have been recognised by the government, awarding him a ten-year golden visa, among other accolades. With over 25 years of experience across various sectors, his expertise mirrors Serco’s multi-domain capabilities. In his new role as CEO of Serco’s international advisory busi- ness, Malem will further develop a unique offering that has already seen success in Saudi Arabia. This new venture, distinguished by consulting from real experience, exemplifies his versatility and ability to lead with poise, purpose, and precision. His capacity to manage two complex businesses simultaneously underscores his commit- ment to fostering connections and driving success across the wider organisation. With customer-centric approach to its operations, Serco is dedicated to the delivery of excellent client service with a commitment to supporting the delivery of essential public services and leveraging the team’s international expertise and local market knowledge. Malem’s vision and growth for the business lies in leveraging the latest technology and the best people to continue to deliver best-in-class services for clients. Phil Malem CEO Serco Middle East Industry 68 ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 111ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 11128/08/2024 12:3428/08/2024 12:34112 100 Most Inspiring Leaders — September 2024 100 Inspiring Leaders 2024 As AKI embarks on its next chapter of transformation, Zaid S. Al Khayyat oversees the company’s strategic direction. Building on the founding principles established by Dr Saad F. Al Khayyat, Chairman of AKI, the company's success lies in its dedication to core values, embedded in a people-first philosophy. By embracing diverse thinking and developing individual skillsets, AKI sustains a robust growth trajectory. Cultivating a culture of excellence and inno- vation, AKI has solidified its position as a leading family business in the region today. With a deep understanding of the regional business land- scape, Zaid continually drives growth and inno- vation across AKI’s multiple verticals. He effec- tively engages partners and customers, allowing AKI to touch every part of people’s lives and bring them the things that matter. Regional growth and expansion Founded in 1982, AKI has grown from a single pharmaceutical company in Dubai to a multibillion-dollar diversified business, with approximately seven thousand employees in the UAE and operations in the GCC, Egypt, Jordan, and Iraq. Zaid has been instrumental to continuing AKI’s tradition of growth and diver- sification, bringing people across the region premium products and services. AKI remains at the forefront of each industry it operates in, spanning pharmaceuticals, medical and laboratory equipment, retail, food and non-food consumer goods, fitness, automotive, environmental services, and contracting. Within the past year Zaid has overseen the continued expansion of BinSina Pharmacy, now boasting over 150 stores across the region. He also led the expansion of the Befit brand and the launch of fashion brands across the GCC. Continuing to invest in its Iraq healthcare and FMCG sectors, AKI opened a new office to support operations. Zaid also spearheaded AKI’s geographical expansion, successfully entering markets such as Saudi Arabia and Egypt, while expanding the company’s presence in Oman. Driving value and excellence With many longstanding and diverse partnerships, AKI supports leading international and local brands to nurture and elevate their business in the region. Beyond this, AKI also adds real value to the communities it serves through its original, homegrown brand concepts, such as BinSina Pharmacy, Befit, and Gulf Contracting and Landscaping (GCL). In the pharmaceutical sector, AKI Pharma has tripled its brand partnerships over the last five years. AKI’s Medlab divi- sion continues to be a trusted and sought-after partner of cutting-edge medical and laboratory equipment. Meanwhile, AKI Consumer Goods (food and non-food) ranks among the top three largest UAE FMCG suppliers, establishing itself as one of the top go-to-market partners in the country. AKI’s GCL is an industry leader in contracting services, recently unveiling one of the UAE’s largest plant nurs- eries in an effort to drive the responsible production and prop- agation of plant life for local climates. Pursuing innovation Over four decades, AKI has cultivated a unique ecosystem based on its family ethos, solid foundations, and smart operations. In alignment with regional ambitions, Zaid embraces the power of advanced technology integration to bring AKI’s customers digi- tal-first, mobile-enhanced experiences. The launch of AKI’s state-of-the-art fulfilment centre in the UAE, spanning 48,000 square metres, will integrate new technological capabilities and automation. This will empower the company to manage inven- tory tracking and distribution more efficiently than ever before, tripling its capacity and supporting its growth. Zaid shares the region’s spirit, energy, and optimism for what is possible, steering AKI to drive sustainable operations and support regional long-term economic growth. Zaid S. Al Khayyat Managing Director Al Khayyat Investments (AKI) Investment 69 ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 112ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 11228/08/2024 12:3428/08/2024 12:34arabianbusiness.com 113 100 Inspiring Leaders 2024 Jashanmal Group has a legacy dating back to 1919 and Tony Jashanmal is currently in charge of preserving that legacy for many years to come. Born in Kuwait and educated in India and Switzerland, Tony assumed the role of managing director of the retail group for its Kuwait operations in 1973. During his tenure, he success- fully instituted new business ventures, spearheaded the reconstruction of operations post the first Gulf War, orches- trated the group’s strategic expansion into India, and facil- itated various joint ventures. The Jashanmal family has been in business for more than a century, when Tony’s grandfather, the late Rao Sahib Jash- anmal, established his first store in Basra, Iraq. A department store in Kuwait came in 1934, followed by another in Bahrain in 1935. The family didn’t enter the UAE market until over 20 years later, with a store in Dubai by 1956. Eight years later, it reached Abu Dhabi and in 2001 made its first foray to India. The group continues its expansion today. In 2019, marking its 100th anniversary, Jashanmal Group rebranded its store with a more digital-savvy concept and revamped its online platform. In 2020, it launched its ecommerce platforms in the UAE, preceding the opening of its flagship KSA store in 2021 and a debut in Oman the following year. Today, Tony is recognised globally as a trusted partner for international enterprises entering the GCC region across the fashion, footwear, home appliances, travel gear, and publishing sectors. Known for his innovative mindset, he is dedicated to fostering brand development in the region through the group’s retail operations, distribution and wholesale network. Retail portfolio With a portfolio comprising approximately 110 brands, including 30 regional exclusives, the group’s retail footprint extends across 150 stores in Kuwait, UAE, Bahrain, Oman, and India. Supported by a robust distribution network comprising over 1,000 points of sale, Jashanmal is headquartered in Dubai, with offices located in Abu Dhabi, Kuwait, Bahrain, Oman, Qatar, KSA, and India, and is at the forefront of the UAE’s retail and distribution activities. The group serves as a franchise partner for international brands such as Bally, Reiss, Brooks Brothers, Santoni, Porsche Design, MAX&Co., Replay, Swatch, Kipling, Hugo Boss, and group entities including Jade, Harmony, OCS, and Troika. The group holds equity partnerships and actively engages in joint ventures, operating a proprietary logistics network overseeing supply chains, freight-forwarding, and warehousing. It also has its own stores, such as popular multi-brand footwear hub Sole District, which has a presence at Dubai Hills Mall. Tony also serves as a board member for the group, but has also been a board member at several educational institutions, as he believes strongly in the value of not-for-profit education. This includes his former role as co-founder and chairman on the board of the New Indian School of Kuwait. He is also a previous trustee of the board for Kuwait College of Science and Technology, as well as an honorary member of the board of Aiglon College in Switzerland. Tony Jashanmal Group President Jashanmal Group Retail 70 ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 113ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 11328/08/2024 12:3428/08/2024 12:34114 100 Most Inspiring Leaders — September 2024 100 Inspiring Leaders 2024 71 Dr. Saeeda Jaffar is a seasoned leader with over 20 years of expertise in financial services, payment systems, and dig ital technolog ies. Her experience encompasses roles in private and investment banks, private equity firms, and sovereign wealth funds, with a focus on delivering pragmatic business solutions to strategic issues, while driving bottom-line impact and fast results. Throughout her 20-year career, Jaffar has been deeply involved in strategic, M&A, and performance-related undertakings across diverse industries. In her current position, she leads a dedicated team focused on propelling Visa’s business growth with key clients and partners from financial institutions, governmental bodies, and collaborators, furthering Visa’s overarching mission to foster prosperity for individuals, businesses, and economies. She is also prioritising digitisation, which is high on the regional agenda, while also identifying new growth opportunities in the market for its clients and partners. This includes launching Visa’s latest payment solution, called Visa Instalments Solution (VIS), for cardholders in the UAE, allowing them to split purchases into smaller payments of equal value at select checkouts online and in stores. VIS empowers clients and partners to implement installment solutions on a broader scale, ensuring widespread acceptance and enhancing the overall consumer shopping experience. She has also spearheaded innovative initiatives, such as sponsoring the FIFA World Cup and launching the Visa Masters of Movement NFT Collection, providing football fans the opportunity to create digital art. Moreover, Jaffar played an instrumental role in leading Visa’s She’s Next initiative in the UAE, empowering local women entrepreneurs through access to networking, mentoring, and funding opportunities. Through this impactful initiative and grants, Visa has dedicated over $3m since 2020 to support women-owned businesses in over 30 countries. Collaborating with clients in both the private and public sectors, Jaffar now reports directly to Andrew Torre, the regional president for Central Europe, Middle East, and Africa (CEMEA), solidifying her integral role within the CEMEA Leadership Team. Alongside her consulting work, Jaffar specialises in restructuring, PMI, operational programmes, strategy, and transformation. Her professional journey has seen her engage extensively across the Middle East, Europe, and the US, contributing strategic insights and expertise to clients in the financial services sector, including universal banks, investment banks, private banks, private equity firms, sovereign wealth funds, government entities, and family-owned businesses. Executive roles In addition to her role at Visa, she serves as a board member of trustees at Kuwait University, bringing extensive knowledge in financial services and payments to her responsibilities. With a background as the managing director for the Middle East at Alvarez and Marsal, she has also held leadership and board member positions at United Arab Bank, Bahrain FinTech Bay, Ishraq, and McKinsey and Company. Jaffar ear ned a Bachelor’s Degree in Biomedical Engineering from Boston University, where she was the valedictorian, followed by a Master’s Degree and PhD in Chemical Engineering from Massachusetts Institute of Technology (MIT). Dr. Saeeda Jaffar Senior Vice President and Group Country Manager – GCC Visa Financial technology ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 114ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 11428/08/2024 12:3428/08/2024 12:34arabianbusiness.com 115 100 Inspiring Leaders 2024 72 CEO Ajman Bank Banking CEO of Ajman Bank, Mustafa Al Khalfawi, led Ajman Bank to achieve an all-time high net profit of AED233m ($63.44m) before tax in H1 2024, mark- ing a 127 percent increase YoY. This performance was driven by a 12 percent increase in total operating income to AED813m ($221.35m). Return on Shareholder Equity (annualised) and Return on Assets (annu- alised) doubled in H1 2024 compared to the corresponding period of 2023, reaching 15 percent and 1.8 percent, respec- tively. A healthy balance sheet, with total assets of AED24.2bn, customer deposits of AED20.2bn, and equity of AED2.9bn. New era of excellence With over two decades of extensive experience in the UAE’s banking sector, Al Khalfawi is leading Ajman Bank into a new era of growth and innovation. Under his leadership, Ajman Bank has reinforced its commitment to enhance the shareholders value, increase the customer base and invest in the human capital by focus- ing on three main principles – Service excel- lence, speed, and specialisation – that are at the core of the bank’s operations. Ajman Bank has made significant strides in digital innovation, enhancing its platforms to provide seamless, user-friendly experiences that meet the demands of a rapidly evolving finan- cial landscape. Trusted institution Ajman Bank ensures that every interaction at the bank is guided by integrity and a genuine understanding of its client needs. This approach has fostered long-term relationships and posi- tioned Ajman Bank as a trusted partner in the financial journeys of its clients, as made an important of creating its first fully owned subsidiary Sky-rise property management to manage its real estate portfolio. Ajman Bank excels in offering tailored products and services that adhere to Islamic principles while meeting the diverse financial needs of its clients, from individuals to large corporations. This specialisation not only distinguishes Ajman Bank in a competitive market but also underscores its dedica- tion to providing relevant, ethical, and effective financial solu- tions. Looking ahead, Al Khalfawi’s leadership is set to drive the institution to new heights while playing a pivotal role in its digital journey. Ajman Bank’s strategic initiatives are designed to ensure sustained growth, innovation, and value creation for its custom- ers, shareholders, and the broader community. With a clear vision and a strong leadership team, Ajman Bank is poised to continue its ascent as a leader in Sharia-compliant banking, setting benchmarks for excellence in the UAE and beyond. Mustafa Al Khalfawi ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 115ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 11528/08/2024 12:3428/08/2024 12:34116 100 Most Inspiring Leaders — September 2024 100 Inspiring Leaders 2024 As head of the Middle East Business Unit at PepsiCo, Aamer Sheikh assumes a key role in the cluster under PepsiCo Africa, Middle East, and South Asia (AMESA), which integrates the snacks and nutrition (Quaker) businesses with franchise beverages operations. In addition to his role at PepsiCo, Sheikh holds the co-chair position at the US-Saudi Business Council and is a member of the Multinational Companies’ Business Group (MCBG) Regional Presidents Forum, alongside other associations. Sheikh’s association with PepsiCo dates to 1999, when he first joined the company in Pakistan within the finance function. Over the years, he has ascended through various leadership roles in Pakistan, the UAE, and the US. Preceding his current role, he served as the president and general manager for the MENA region and Pakistan. In 2017, he assumed the position of chief financial officer for PepsiCo’s Asia Middle East & North Africa Sector (AMENA), overseeing financial operations in over 40 countries, covering beverages, snacks, and nutrition businesses, including 10 joint ventures. His diverse leadership roles also include chief financial officer for the Middle East and Africa (MEA) region in 2008, SVP for Planning and Transformation for the AMENA region in 2014, and SVP for Commercial Finance for Frito Lay North America in 2016. Consumer manufacturing Since 2022, Sheikh has been able to spearhead PepsiCo’s growth in the Middle East as CEO, including an increase of 1.5 percent net revenue in H1 2024. This falls under the AMESA sector, which boasts a portfolio of prominent global snack brands including Lay’s, Cheetos, and Doritos, alongside local favourites. Additionally, the sector features a diverse range of beverage brands including 7UP, Pepsi, Aquafina, Mountain Dew, Mirinda, and Sting. In the UAE, PepsiCo actively participates in waste reduction and resource optimisation, integrating circular economy principles into its operations. As a founding member of the Circular Packaging Association in the UAE, the F&B leader engages in a platform that brings together leaders and stakeholders to collectively make a positive impact in the form of more sustainable packaging, enhancing the accessibility of recycling infrastructure, involving youth in innovative solutions, and providing sustainably innovative packaging technologies and business models. In September 2023, Pepsico launched a recycling solution with Talabat and Yalla Return across UAE communities. Since 2021, PepsiCo has also collaborated with Bee’ah in the UAE to collect and recycle an amount equivalent to all Aquafina packaging produced in the country annually. Moreover, it recently introduced recycled bottles for Pepsi, Diet Pepsi and Pepsi Zero. Prior to his tenure at PepsiCo, Sheikh held various finance roles, including a five-year stint in the US working as an auditor for Ernst & Young and The Walt Disney Company. He also spearheaded the finance function for Unisys for three years in Pakistan. He is a certified public accountant with a BBA in public accounting from Loyola University of Chicago, US and has completed executive education courses at Harvard and the Wharton School of Business. Aamer Sheikh CEO PepsiCo Middle East Industry 73 ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 116ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 11628/08/2024 12:3428/08/2024 12:34arabianbusiness.com 117 100 Inspiring Leaders 2024 With a wealth of experience and a drive for inno- vation, Al Gaddah stands out as a pioneering figure in the real estate sector. As the visionary behind the innovative Keturah concept and the CEO of MAG Lifestyle Development, he has overseen a multitude of ground-breaking projects that have trans- formed the landscape of the UAE. From iconic residential towers to visionary mixed-use developments, his portfolio showcases a steadfast commitment to excellence and a dedi- cation to creating spaces that inspire, elevate, and revitalise communities. Al Gaddah’s current real estate portfolio exceeds $5bn, encompassing 14 completed projects and 7 projects currently in progress. Shaping the future of real estate In 2022, marking a landmark year, Al Gaddah introduced the Keturah brand, a cutting-edge concept that embodies luxury intertwined with wellness principles. This pioneering endeavour underscores his exceptional talent for blending luxury with sustainability, positioning the Keturah brand as a frontrunner in shaping future global developments. Subsequently, his forward-thinking approach has propelled the Keturah brand beyond traditional real estate boundaries, promoting a lifestyle centred on innovation, exceptional quality, and holistic well-being. This marks a significant shift in the industry towards creating communities that serve as bastions of sustainable and enriching living environments. As a visionary leader driving transformative innovation in real estate, Al Gaddah embodies a commitment to excellence, sustainability, and community well-being. Catering to luxury living Keturah made its debut at The Ritz-Carlton Residences, Dubai, Creekside, part of the Keturah Resort, the first fully wellness certi- fied resort in the MENA region. Shortly thereafter, Keturah Reserve was introduced, marking another first in the Middle East with its innovative 'Bio Living' concept, providing residents with an immersive experience in landscaped nature to enhance their physical, mental, and emotional well-being significantly. Positioned as a game-changer in luxury real estate, Ketu- rah seamlessly integrates extravagance with well-being to deliver unparalleled living experiences. Under the leadership of Al Gaddah, Keturah transcends traditional norms by offering transformative environments that prioritise holistic wellness, sustainability, as well as community cohesion. From the distinguished Keturah Resort to the innovative Keturah Reserve, each project epitomises excellence and sets new benchmarks for luxury living not only in the UAE but also on a global scale. With all his vast experience at a young age, he is consid- ered as a visionary leader driving transformative innovation in real estate, embodying a commitment to excellence, sustainability, and community well-being. His visionary outlook transcends conventional boundaries, driving forward a future where innovation and sustainability converge seamlessly in real estate development. Talal Moafaq Al Gaddah Founder and CEO Keturah Real estate 74 ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 117ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 11728/08/2024 12:3428/08/2024 12:34118 100 Most Inspiring Leaders — September 2024 100 Inspiring Leaders 2024 Mudassir Sheikha co-founded Careem, which has since become a leading technology platform for the region, later acquired by Uber for $3bn in 2020, the largest technology sector transaction in the Middle East. With a degree in economics and computer science from the University of Southern California, USA, and a Master’s degree in computer science at Stanford, USA, Sheikha began his career in tech in Silicon Valley in 2000. Sheikha started out working with Brience, a San Francisco-based mobile experience startup, following a brief stint at Trilogy Software in Austin, Texas. After three years, he spent a few months as a summer associate at Garage Technology Ventures, working with companies in the software and consumer internet industry, before moving back to Pakistan, where he took on a leadership role at system software company DeviceAnywhere, steering its offshore development centre. Later, Keynote Systems acquired DeviceAnywhere and then Sheikha joined Dubai’s McKinsey & Company office as an associate partner. Four years later, he teamed up with his former McKinsey colleague Magnus Olsson to launch Careem, in a bid to help simplify the lives of people in the Middle East region and fill a gap in the public transportation market. In 2013, Abdullah Elyas became Careem’s third co-founder and within a decade the trio led the company into 14 countries, hiring a staff of 12,000 along the way. Now, following the buy-out, Careem operates in over 70 cities across 10 countries, from the UAE to Morocco and Pakistan, with Sheikha still in the driving seat as CEO. Since 2012, the company has created earnings for more than 2.5 million drivers, referred to by Careem as captains, and serviced over 50 million customers. Popular app In Dubai, Careem provides customers 11 services, including payments, food and grocery delivery, ride-hailing, micro- mobility, payments, and more. In April 2023, buoyed by a $400m investment, telecom giant e& became the majority shareholder in Careem’s app, while Uber retains complete ownership of Careem’s ride-hailing business. The Careem Everything App offers a wide range of services, including micro-mobility, food and grocery delivery, and third- party services such as home cleaning and car rental. Fintech offerings include Careem Pay, which offers peer-to-peer transfers, bill payments, digital wallet and international remittances. The recent investment supports core services such as Careem Food, Careem Quik Groceries, Careem Pay, and Careem DineOut, leveraging Careem’s strengths in logistics, digital payments, and customer experience, with plans to accelerate the expansion of its app across the Middle East, North Africa, and South Asia. In Q2 2024, e& life, a vertical of e&, delivered strong revenue growth of 78 percent year-on- year, attributable to Careem Technologies. Outside of Careem, Sheikha is a founding board member of Karachi-based non-profit Endeavor, a global organisation that aims to support and invest in the world’s top founders, with a network that spans over 40 countries and more than 2,500 entrepreneurs whose companies generate combined revenues of over $28bn and have created more than 3.9 million jobs. Mudassir Sheikha Co-founder and CEO Careem Transport 75 ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 118ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 11828/08/2024 12:3428/08/2024 12:34arabianbusiness.com119 100 Inspiring Leaders 2024 Aziz Fakhroo assumed the managing director and CEO role at Qatar’s Ooredoo Group in November 2020, subsequently rising to group CEO in March 2024. Fakhroo has played a pivotal role in driving the company’s growth trajectory, leveraging his extensive experience as well as strategic vision. His tenure as a board member at Ooredoo Group, which commenced in 2011, reflects his longstanding commitment to the organisation’s success and direction. With operations spanning 10 countries, Ooredoo Group is committed to enhancing its network infrastructure to deliver seamless connectivity, addressing the evolving digi- tal needs of consumers and businesses while empowering global customers to access the internet easily. Positioned as a true digital enabler, Ooredoo operates as a catalyst for simplifying lives and fostering enriching digital experiences across its diverse markets. Guided by a strategic vision spearheaded by Fakhroo, Ooredoo Group has orchestrated noteworthy deals, includ- ing the $750m telecommunication tower agreement with Edge Point Indonesia and the $6bn merger with CKK Hutchinson in Indonesia, underscoring the company’s commitment to growth and innovation. With a substantial investment of $1.1bn earmarked for the period spanning 2024-2026, Ooredoo intends to bolster mobile coverage, elevate service quality, and spearhead digital transformation initiatives in regions including Algeria, Tuni- sia, Palestine, Iraq, and the Maldives, poten- tially benefiting over 109 million individuals within these areas. In H1 2024, the group’s revenue increased by 3 percent to approxi- mately $3.2 billion, while normalised net profit was up by 14 percent, reaching $521.9m. In 2023, its full-year revenue reached $6.4bn. Streaming venture Moreover, March 2024 marked an exciting milestone for Ooredoo Group with the intro- duction of its pioneering Over-The-Top (OTT) streaming venture through the launch of the Go Play Market platform. Developed in collaboration with MediaKind and supported by Microsoft, Go Play offers a diverse array of entertainment content, including live TV channels and video-on-demand services. Prior to his leadership roles at Ooredoo Group, Fakhroo held the position of deputy undersecretary for Budget, Treasury, and Financial Affairs at the country’s Ministry of Finance, where he also became advisor to the Minister of Finance, honing his financial acumen and leadership skills. Additionally, his role as a board member at Accor SA since 2015 underscores his broad expertise in diverse industries. With a distinguished background in mergers and acqui- sitions, Fakhroo’s tenure as the co-head of Mergers and Acquisitions at the Qatar Investment Authority further solid- ified his reputation as a leader with a keen eye for transform- ative business opportunities. His expertise and insight are demonstrated by his recent appointments to prominent boards, including the Board of Trustees of Qatar Museums and the board of KATARA Hospitality in March 2021. He has previously served on the boards of prominent global institutions such as Canary Wharf Group, United Arab Ship- ping Company, Aspire Katara Investments, CITIC Capital, and KinderCare Education. Furthermore, his appointment as a board member of commissioners at Indosat in December 2021 highlights his expanding international presence and strategic influence in the telecommunications sector. Aziz Fakhroo Group CEO Ooredoo Telecoms 76 ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 119ABE_100 Most Inspiring Leaders Supplement September 2024_96-119_entries 53-76_13362659.indd 11928/08/2024 12:3428/08/2024 12:34Next >