< Previous30 September 2023 100 MOST INSPIRING LEADERS 20. ABDUL AZIZ AL GHURAIR 21. JOHN PAGANO Chairman AL GHURAIR INVESTMENT CEO RED SEA GLOBAL In addition to his curr ent r o l e, Al Ghurair also holds the directorship of the Abdul- lah Al Ghurair Group of Companies, a business legacy with a presence in over 20 countries and over 50 years of history. Before his role as the chairman of the board of directors at Mashreq Bank, he spent around three decades as the bank's CEO. He is also on the board of directors of his family's extensive Abdulla Al Ghurair Group, a venture that spans numerous countries. Throughout his career, he In his current capacity at Red Sea Global (RSG), a vertically integrated real estate firm engaged in regenerative development projects along the Red Sea coast of KSA, including The Red Sea and AMAALA, both situated on the west coast of the country, Pagano is backed by over three decades of international commercial property indus- try expertise spanning North America, Europe, and the Caribbean. His experience encom- passes project structuring, financing, construction and asset management, master planning, and more. He is spearheading the has held vital positions on the boards of renowned entities like Mastercard, Visa International, Dubai Investments, Emaar, and the Dubai Chamber of Commerce and Industry. His leadership extended to co-chairing the Arab Busi- ness Council-World Economic Forum (WEF), showcasing his in uence in global economics. Al Ghurair’s commitment to advancing knowledge is evident in his role as a board member of trustees at New York University, USA. He has also contrib- uted to the Consultative GCC Council for the GCC Leaders and held the pres- tigious position of the president of The Knowl- edge Fund, solidifying his dedication to progress and growth. Established in 1960 and headquartered in Dubai, Al Ghurair Investment (AGI) spans six industry sectors. With operations expanding across over 50 countries and a workforce of around 28,000 individuals, AGI has become a driving force in multiple domains. development of RSG's projects from the ground up to create a series of regenerative luxury tour- ism destinations in KSA. Since January 2018, Pagano has been at the helm of the Red Sea Devel- opment Co. (TRSDC), primarily an island develop- ment and one of three mega-projects aimed at diversifying KSA’s economy in alignment with Vision 2030. Additionally, serving as the CEO of KSA’s ultra-lux- ury destination project, Amaala, he is overseeing the phase one development of the Red Sea Project, set to conclude in 2024 which covers an area of around 20,000 km2 and encom- passes six inland locations and 22 islands. Upon completion, the entire Red Sea Project will feature approximately 50 hotels and 1,300 residential properties across 22 islands. Mainly a coastal develop- ment, the first phase of Amaala involves an interna- tional airport, the delivery of 16 hotels, and the creation of mirrored orbs forming the Sheybarah Island hotel. INVESTMENTHOSPITALITYarabianbusiness.com 31 100 MOST INSPIRING LEADERS 22. DR RAJA AL GURG 23. TALAL AL DHIYEBI Chairperson and managing director EASA SALEH AL GURG GROUP Group CEO ALDAR Dr. Al Gurg’s leader- ship has been steered by her late father, the founder, Easa Saleh Al Gurg. Known for her support of Arab women entrepreneurs, she is the founder of the Dubai Busi- nesswomen Council and serves as a member of the board of directors of Dubai Chambers. She also occu- pies roles on the board of Dubai Chamber of Trade and Dubai Women’s Association. Dr. Al Gurg is the vice chairman of the boards at the National Bank of Fujairah, Mohammed Bin Rashid University of Medi- cine and Health Sciences Under Al Dhiyebi’s leadership, Aldar has undergone a signi - cant transformation, expanding its influence beyond Abu Dhabi to neigh- bouring emirates like Dubai and Ras Al Khaimah, and even reaching international markets like Egypt. Aldar's success can be attributed to its substantial recurring income portfolio, valued at over $9bn, which re ects Al Dhiyebi’s strategic visionary. Additionally, the company boasts an ongoing develop- ment backlog exceeding $20bn, encompassing both owned and managed projects. Under his guid- ance, Aldar Properties has (MBRU), and vice chair at the University of Dubai. She contributes her insights to the advisory board of Coutts Bank, the wealth division of the Royal Bank of Scotland Group. She is also a vital component of the board of directors fo r Dubai Academic Health Corpora- tion; vice chairperson of University of Dubai; on the board of trustees for Hamdan Bin Mohammed Smart University; and member of the board of trustees for Ajman Univer- sity. In 2022, she assumed the role of honorary pro-chancellor at Heriot Watt University which is complemented by the pres- ence of Professor Dame Heather McGregor, who recently assumed the role of provost and vice-principal in Dubai. She also dedicates her counsel to various business groups and international trade alliances. Her contri- butions span philanthropic realms through the Easa Saleh Al Gurg Charity Foun- dation, and she holds the role of chairperson of the board of directors of the Al Jalila Foundation. launched an ambitious Net Zero Action Plan, solidifying its commitment to achieving net zero emissions across Scope 1, 2, and 3 by 2050. Al Dhiyebi's in uence extends to various boards, including those of the Abu Dhabi Transport Company, the Abu Dhabi Chamber of Commerce and Industry, Miral Asset Management, Ethara, and Sandooq Al Watan. His dedication to education and empower- ment is evident through his position as vice-chairman of Aldar Education. Aldar Development is responsible for crafting inte- grated and vibrant commu- nities in some of Abu Dhabi’s most sought-after destina- tions, from Yas Island to Saadiyat Island, Al Raha, and Reem Island. At the heart of its operations lies the nurturing of Aldar's expan- sive land bank, covering approximately 65 million sq m carried out through three strategic divisions. Aldar Projects adeptly manages development initiatives, including government hous- ing and infrastructure projects. DIVERSIFIEDREAL ESTATE32 September 2023 100 MOST INSPIRING LEADERS REAL ESTATE In his current position at MAG, a leading real estate property devel- oper in the UAE, Al Gaddah is known as one of the youngest devel- opers in the region. Steered by a visionary leadership, his management skills steer the corporate direction and strategy of MAG which have propelled it to new heights. Today, Al Gaddah’s real estate portfolio is valued at more than $4bn. Transforming UAE’s real estate sector Al Gaddah's ambition for MAG is rooted in his desire to revolutionise the UAE's real estate market and economy by attracting a new wave of investors, domestically and internationally. He has successfully achieved this by o ering developments that cater to customers' needs and turn their aspi- rations into reality. With a progressive vision, Al Gaddah is propelling MAG to new heights through pioneering projects that align with the company's mission of delivering enduring quality and bene ts to investors and customers. With an unwavering commitment to excellence, Al Gaddah’s innovative real estate concepts and market-driven approach have played a pivotal role in reshaping the UAE’s real estate landscape. Recognising an opportunity for innovation within Dubai's market, he pioneered a revolutionary luxury well-being real estate and hospitality concept named Keturah. This concept, exempli ed by Keturah Resort at The Ritz-Carlton Resi- dences, Dubai, Creekside, marks a ground-breaking approach to the sector. It is the region's rst development to pursue WELL Health-Safety Rating certi cation, re ecting Al Gadd- ah's commitment to holistic well-being. Furthering the Keturah brand, he introduced Keturah Reserve in Meydan, which stands as the Middle East's pioneer of the 'Bio Living' concept which integrates residents with natural landscapes for a transformative living experience. Growth and expansion In 2022, MAG introduced a ground-breaking luxury wellness real estate and hospitality concept named Keturah. He adds, “This venture began with The Ritz-Carlton Residences, Dubai, Creekside, part of the Keturah Resort, the region’s rst to seek a WELL Health-Safety Rating certi cation. The aim is to blend luxury with well-being, fostering a genuine community spirit.” The Keturah brand expanded with Keturah Reserve in Meydan, introducing the ‘Bio Living’ concept, another rst in the Middle East. “Bio Living completely immerses residents in landscaped nature to signi cantly improve their physical, mental, and emotional health. The project is a space for residents to connect with their family, themselves, and with all aspects of their lives.” Over the one year, MAG has nalised 2,000 units across three projects. Sales for Keturah Reserve and Keturah Resort surpassed $1.1bn, says Al Gaddah. “At MAG City, 546 townhouses have been delivered, with another 688 units scheduled for completion in October, generating over $463m in sales.” Also, MBL Royal Resi- dence in JLT, a mixed-use luxury tower by MAG, witnessed all units sold in just 120 days, achieving $200m in sales. MAG 22, a project comprising 22 townhouses, also sold out, with completion expected in December 2024. 24. TALAL AL GADDAH Senior executive vice chairman MAGarabianbusiness.com 33 100 MOST INSPIRING LEADERS HEALTHCARE In 2005, El Khoury embarked upon his career trajectory with GE HealthCare in France, where he took on customer-facing roles related to product and service management in Northern Europe. Throughout his tenure, he demonstrated his capabilities and leadership, leading to his appoint- ment as the Northern Europe regional sales manager for CCS Services. Since his relocation to Dubai in 2014, El Khoury has been responsible for key regional leadership posi- tions, including director of Business & Commercial Opera- tions, general manager for Services Sales, services general manager for Emerging Markets, and most recently, chief oper- ating o cer, EMEA Services. In these roles, he has been lead- ing the growth and helping to expand market share in key markets including the Middle East, Northeast Africa, Turkey, and South-Central Asia. Leadership style Inculcating a leadership approach that emphasises being a coach, rather than an enforcer, El Khoury believes that e ective leaders do three things well; rstly, they clearly lay out strate- gic direction and priorities to their teams and articulate the steps to achieve them. Secondly, e ective leaders create a work environment where employees feel safe and empowered to speak up and contribute. Lastly, they understand the business e ciently and can eliminate any obstacles in the way of their teams achieving their goals. Key successes According to El Khoury, one of GE Healthcare’s most pivotal projects is to build 22 essential Neonatal Intensive Care Units (NICUs) across Iraq which will play a role in addressing the healthcare challenges faced by Iraq, particularly in the eld of neonatal care. Recognising the immense potential in KSA, El Khoury is currently focusing on rebuilding the company's approach in the kingdom. With a renewed strategic vision and a carefully assembled team of professionals, they are actively supporting Saudi Arabia in achieving its ambitious 2030 Vision within the healthcare industry. Roadmap In today’s rapidly evolving world, healthcare has emerged as one of the fundamental pillars of societal progress. As a dedi- cated advocate for enhanced healthcare access and quality across the region, El Khoury’s principal goal for the coming near future is to bring about transformative changes by lever- aging the latest innovations and solutions. “By empowering healthcare providers with increased e - ciency and enabling them to prioritise patient well-being, I aim to create a world where healthcare has no limits.” The importance of collaboration El Khoury strongly believes that collaboration and partnerships are essential to achieve sustainable changes in healthcare access and quality. He adds, “By fostering alliances between healthcare provid- ers, researchers, technology developers, and policymakers, we can collectively address the challenges faced in the region's healthcare landscape. These collaborations can stimuate knowledge sharing, support research and development, and create policy environments conducive to innovation and improvement. The concerted e orts of all stakeholders will be vital in creating a healthcare system that is resilient, adaptable, and responsive to the region's evolving needs.” 25. HADY EL KHOURY General manager – MENEAT GE HEALTHCARE34 September 2023 100 MOST INSPIRING LEADERS Elgibali is responsible for leading the company’s dynamic MENA business – driving growth and innovation to meet marketspeci c needs, form new partnerships and deliver on Mastercard’s continued commit- ment to invest in the region. Elgibali held several senior posi- tions at leading nancial institu- tions including HSBC Middle East, Standard Chartered Bank, Barclays and Citigroup, and brings a wealth of experience to the role alongside a deep under- standing of the region’s economic landscape. Since joining Mastercard in 2016, Elgibali has helped rein- force the company’s position as a technology leader and trusted payments advisor to regional governments, enabling the successful execution of national- level programmes that support their digital agendas and longterm visions. From driving commercial growth through diversi ca- tion of revenue streams, cutting edge technology solutions, and building strategic partnerships with the region’s lead- ing public and private stakeholders, Elgibali is on a mission to create a futureready digital ecosystem in the region through innovations in payments. Milestones and achievements In recent years, Elgibali spearheaded Mastercard's MENA response to the Covid pandemic, leveraging the capabilities of digital commerce to support governments, businesses, SMEs, and consumers in navigating the challenges posed by the pandemic. These initiatives saw continued expan- sion by diversifying revenue sources and establishing significant collaborations with prominent public and private entities in the region. The company is leveraging partnerships and cuttingedge technology to foster a more sustainable future, as demonstrated by Mastercard's Price- less Planet Coalition initiative. This ambitious endeavour is geared towards combating the worldwide climate crisis by reforesting 100 million trees in the next ve years. The initiative has garnered over 100 members globally, all united by the shared belief in Mastercard's philosophy of doing well by doing good. TECHNOLOGY 26. KHALID ELGIBALI Division President, MENA MASTERCARDarabianbusiness.com 35 100 MOST INSPIRING LEADERS In a rst move for a payment network, all of Master- card’s newly produced plastic payment cards will be made from more sustainable materials from 01 January 2028. Growth and acceleration Elgibali reveals that Mastercard closed 2022 with strong nancial results and that its earnings growth has been supported by resilient consumer spending, particularly in travel and experiences during the rst half of 2023. He adds, “These successes re ect the diverse scope of our work with governments, nancial institutions, ntech companies and nontraditional digital players. Through cocreation, collaboration, and publicprivate partnerships, we continue to drive the growth of digital payments through crossbor- der remittances, accounttoaccount transactions, B2B payments, while also expanding into new segments, includ- ing esports and gaming.” To advance digitised B2B travel payments between travel buyers and suppliers, Mastercard partnered with Bahrainbased ntech In nios Financial Services to launch the rst Mastercard Wholesale Programme in the region, enhancing liquidity for travel agencies through greater transaction exibility, transparency, and security. “In the transport sector, we worked with the Greater Amman Municipality and Network International on Jordan’s rst transit payment ecosystem, powered by Mastercard’s Payment Gateway Services.” Robust partnerships Mastercard is collaborating with the Central Bank of Egypt and the Egyptian Banks Company in support of secure card tokenisation regulations by providing infrastructure to all issuing banks across the country. In Dubai, Mastercard launched a new Digital City part- nership that will leverage its multirail payments network and datadriven digital commerce technology. “In Kuwait, we teamed up with One Global to launch Click to Pay, which makes it easy, secure, and fast to check out without the need to enter their card credentials.” With Mastercard Send, people and organisations can send and receive money around the world in near real time, o ering speed, convenience, and security. He adds, “Most recently, we partnered with Checkout.com to integrate this solution for Careem Pay customers. We are also supporting e& by integrating various digital payment services in a way that adds value and enhances userfriendliness in 16 markets.” In esports and gaming, Mastercard is innovating across augmented reality activations, NFTs, and fans’ loyalty solutions with the Saudi Esports Federation. Mitigating cyber threats Cyber threats are among the greatest challenges faced across industries and markets. “At Mastercard, we are committed to investing in solutions and forming partner- ships that instil trust, securing every transaction and every interaction,” Elgibali says. “We are constantly strengthen- ing our capabilities in arti cial intelligence and machine learning to ght fraud and enhance realtime intelligence.” Mastercard recently joined forces with the UAE govern- ment to launch the Global Centre for Advanced AI and Cyber Technology in Dubai. In addition to developing AIpowered solutions to ght nancial crime, the centre will focus on securing the digital ecosystem and driving inclu- sive growth. “It will also serve as a hub to nurture and hire local AI talent, including data engineers and data scientists, with a remit to accelerate AI innovation globally and service customers all around the world from the UAE.” Inclusive growth Elgibali asserts that inclusive growth is only possible when it is accessible by everyone, which is why financial inclu- sion is so important. “Our goal is to bring 1 billion people and 50 million SMEs worldwide into the digital economy by 2025,” he says. “We recently achieved a major milestone of connecting 25 million women entrepreneurs globally to the digital tools and resources they need to grow their businesses.” Mastercard already has pay parity in across its organ- isation. “That’s why we linked all employee bonuses to achievement of our ESG goals, sharing the responsibility, success, and recognition,” he says. “Though a partnership with Women Choice, we introduced the Social Innovation Incubator, which aims to create one million jobs for women across MENA.” As Mastercard look to build a more inclusive world, exciting innovations like the Mastercard Touch Card ensures that everyone has access to the digital economy. The solution facilitates easy transactions for those with visual impairments, and Elgibali says they are proud that Ajman Bank became the rst partner globally to roll this out. Mastercard has subsequently also launched the Touch Card in Saudi Arabia. We are constantly strengthening our capabilities in arti cial intelligence and machine learning to ght fraud and enhance realtime intelligence 50M The number SMEs worldwide Mastercard aims to help get into the digital economy by 202536 September 2023 100 MOST INSPIRING LEADERS EDUCATION In his role as CEO, Alphonso brings a wealth of experience in strategic thinking with over 25 years of expe- rience implementing business transfor- mations in the North American, Austral- ian, and Middle Eastern markets. Prior to joining Alef Education, he was the general manager and head of PMO/Solu- tions for Pearson Education’s Middle East and Africa business practice for over nine years, where he grew and led a cross-functional team to drive Pearson’s digital strategy with a combined portfolio of over $30m across both the K-12 and higher education markets. Before Pearson Education, Alphonso held senior leadership positions across the EdTech, telecommunications, and nance sectors in Toronto, Canada, and Brisbane, Australia. Geo rey is an avid enthusiast for the use of technology in education. He also sits on the board of THAKI, a non-governmental organi- sation that provides digital education products and services to underprivileged children in the MENA region. The year 2022 For Alef Education, 2022 was about innovation, transforma- tion, growth, and a commitment to reshaping education, says Alphonso. He adds, “Our e orts to transform education have resulted in signi cant milestones; from 2021 to 2022, we saw signi cant growth, with schools and students increasingly adopting our cutting-edge technology. Over 850,000 students, 40,000 teachers, and 11,000 schools have bene ted from our solutions, reflecting the growing demand for innovative education tools that reshape the learning dynamic for students and teachers.” In 2022, Alef Education expanded its global presence, enter- ing new regions, including North America, North Africa, and Southeast Asia. “This expansion re ects our commitment to providing accessible, personalised, high-quality learning expe- riences, regardless of geographic barriers.” Their partnerships with industry giants such as Microsoft, Google for Education, and Etisalat have provided them with advanced technologies and insights that enhance the student learning experience. “Collaborations with technology providers such as AWS, Acer, Dell, and the Abu Dhabi Department of Education and Knowl- edge (ADEK) have ne-tuned our solutions to meet local needs,” says Alphonso, while their partnerships with forward-thinking educational institutions such as Cambridge University and the University of Kentucky have augmented their pedagogical approaches to ensure that resources remain at the forefront of instructional solutions. Among Alef Education’s accomplishments, their award-winning agship product, the Alef Platform, is at the heart of their success. “It garners recognition from prestigious educational institutions and demonstrates its e ectiveness in fostering student engagement and academic excellence.” Roadmap One of the biggest challenges has been ensuring equitable access to their solutions, especially in underserved regions with limited digital infrastructure, he says. “To address this, we are actively working with local governments and organisations to build a solid digital infrastructure and make education accessible.” Their roadmap for the future focuses on three pillars: inno- vation, accessibility, and partnerships. “We invest in AI-driven adaptive learning to customise content and ensure engagement and e ectiveness,” he says. “Through our unwavering commit- ment to innovation, inclusion, and collaboration, we're poised to meet challenges and transform education worldwide.” 27. GEOFFREY ALPHONSO CEO ALEF EDUCATIONarabianbusiness.com 37 100 MOST INSPIRING LEADERS 28. ISSAM KAZIM 29. SHAYNE NELSON CEO DCTCM Group CEO EMIRATES NBD Established in Decem- ber 2013 as an a liate of Dubai’s Depart- ment of Tourism and Commerce Marketing ( DTCM ), Kazim has assumed a signi cant role in the development and advancement of the DTCM team. His responsibilities encompass a wide spec- trum, including overseeing marketing, branding, and promotional initiatives for Dubai. Part of his role involves negotiating and cultivating global partner- ships, playing a pivotal role in fostering relationships with partners, industry stakeholders, and investors, which have contributed to During Nelson’s tenure, Emirates NBD’s market capi- talisation grew from $4.3bn to around $24.5bn. Emirates NBD's assets increased from around $83.8bn to $190.5bn, including a significant acquisition of DenizBank in Turkey for $2.7bn. The bank achieved substantial organic growth, securing the largest market share in corporate and retail banking in the UAE and leading in regional tech- nology innovation. Addition- ally, Emirates NBD expanded in Egypt, India, and KSA, obtaining the highest number of branch licenses among foreign banks in KSA. Nelson serves on various the remarkable growth of Dubai's tourism sector. Kazim is a valued member of the Dubai Media Coun- cil's board and serves as a prominent media spokes- person, representing Dubai Tourism in interviews, presentations, and signi - cant events across the city. This extends to engage- ments with government bodies, VIP delegations, and other prominent figures, amplifying Dubai Tourism’s presence and impact.Since taking on his role at DTCM in February 2014, Kazim has achieved noteworthy mile- stones. He has overseen the creation of innovative data- driven platforms and desti- nation tools aimed at enhancing the experience of visitors to Dubai. Kazim has led the expansion of the Visit Dubai social and digital ecosys- tem, boosting its e ective- ness and reach. Dubai’s updated tourism strategy demonstrates a dual approach that emphasises both rejuvenating its estab- lished legacy destinations, including Bur Dubai, Al Fahidi, and the Souq areas. boards, including Emirates Islamic, Emirates NBD Capi- tal Ltd., Emirates NBD Capi- tal PSC, Tanfeeth, Deniz- Bank A. . (Turke y) , International Monetary Conference, Marsh Emirates Insurance Brokers, and the University of Wollongong in Dubai's Advisory Board. He is also a member of the International Cooperation Council France UAE (CCI France UAE). Previously, Nelson was the CEO of Standard Char- tered Private Bank in Singa- pore for three years. He chaired the Standard Char- tered Saadiq Islamic advi- sory board and was a board member of Standard Char- tered Bank (China) Ltd. Other positions held previ- ously include the regional CEO of Standard Chartered Bank Middle East and North Africa for five years. He chaired Standard Chartered (Pakistan) Limited and the Banking Advisory Council to the Dubai International Financial Centre Board. He was also CEO and managing director of Standard Char- tered Bank, Malaysia Berhad, based in Kuala Lumpur. TOURISMBANKING38 September 2023 100 MOST INSPIRING LEADERS FMCG FMCG major Emami is expanding and growing at astounding speed in the international markets. Leading Emami's transformation inter- nationally as an Indian company evolv- ing into a dynamic global citizen, Direc- tor, Prashant Goenka reveals that Emami’s vision is 'making people healthy and beautiful, naturally,' with a distinc- tive Ayurveda and herbal focus across their diverse portfolio. Passionate about new-age businesses, and elevating the benchmarks of diversi cation, Prashant’s vision is fuelled by the ambition to expand Emami’s renowned brands into international markets, commitment to innovation, adaptability, and a relentless pursuit of excellence. Today, Emami proudly boasts an extensive portfolio including popu- lar names such as Boroplus, Navratna, Smart & Handsome, Zandu, Menthoplus, Fast Relief, Creme21, 7 Oils in One & Kesh King, etc. Emami's current operations span across more than 70+ countries, encompassing regions like MENA, South East Asia, SAARC, Africa, Eastern Europe, Russia and CIS countries. Helming Emami’s expansion As the director of a distinguished house of brands that consist- ently prioritise quality & innovation, Prashant has steered Emami's remarkable international expansion journey for 25 years. This expansion uni ed the establishment of Emami o ces in GCC countries, Russia, and Europe and manufactur- ing units on a global scale. Today, Emami proudly upholds a rich legacy founded on core values of trust, integrity, and profound respect for its cherished consumers. The recent years have been a resounding success for Emami’s international business in terms of revenue growth. Under Prashant’s leadership, the business achieved signi cant success, accelerating pro tability and a stellar performance growing by 20 percent in nancial year 2023. MENA has been the fulcrum of international growth. This is a feat that empha- sizes unwavering focus on customer-centricity, understand- ing local preferences and building bonds that have driven consumer engagement and bolstered Emami’s bottom line. Emami’s strategic acquisitions in India and international markets have been pivotal in expanding its business. Acquir- ing the heritage brand Zandu, the Ayurvedic Hair & Scalp business of Kesh King, acquisition of Creme21, a German iconic brand further exempli ed its portfolio. In addition, Emami has been continuously entering strategic stake acqui- sitions in startups across industries. Importantly, it was my longstanding pledge to champion inclusion and diversity and adapt to international culture, says Prashant. “Interestingly, at Emami, we are endeavoring to launch & invest in new, modern-age businesses, and natural & herbal brands that embrace “Good for ME and Good for US’.” He ardently participates in key chambers and professional organisations, holding active memberships in the Indo-Ger- man Chamber of Commerce, the Confederation of Indian Industry (CII), and serving as a member and former chapter chair of the Young President Organisation (YPO) in Kolkata, India. Beyond business, raised in a closely-knit and principled joint family, and he imbibed strong moral values and unwaver- ing integrity from an early age. Prashant mentions compassion becomes real when we recognize our shared humanity, and it is with this realisation he is evolving to be more committed to social responsibilities. Prashant brings a pragmatic and results-oriented approach to his endeavours, with a relentless drive to achieve exceptional outcomes. 30. PRASHANT GOENKA Director EMAMIarabianbusiness.com 39 100 MOST INSPIRING LEADERS 31. RONALDO MOUCHAWAR 32. MUDASSIR SHEIKHA CEO and co-founder/ vice president SOUQ.COM/AMAZON MENA Co-founder and CEO CAREEM M ouchawar , a visionary entre- preneur, stands as a transformative force in the MENA region's e-commerce landscape. A co-founder of Souq.com Group, he pioneered a revolutionary shift in online retail. Guiding Souq.com as its CEO, he cultivated its growth into the largest e-commerce retailer in the Arab world. In 2017, Amazon acquired Souq.com for $580m. Beyond Souq. com and Amazon, Moucha- war’s impact spans involve- ment as a board director for Instashop, a UAE-based grocery app. A devoted advocate for innovation and technology, his journey With a degree in economics and computer science from the University of Southern California, USA, and a master’s degree in computer science at Stan- ford, USA, Sheikha initially joined Trilogy Software followed by a role at Brience, a San Francisco-based mobile experience start-up in March 2000. This was followed by a leadership role at DeviceAnywhere in Paki- stan, where he steered its offshore development centre. Later, Keynote Systems acquired DeviceAn- ywhere and then Sheikha joined Dubai’s McKinsey & Company o ce. Four years began as a Technical and Systems Consultant with EDS in the US, later spear- heading pioneering web and ecommerce projects like Maktoob.com (acquired by Yahoo! in 2009. Mouchawar contributes to key councils and advisory boards, such as the Dubai Future Council on Arti cial Intelligence, Dubai Future Academy board of trustees, and International Advisory Council at the Executive Council. Originating in the UAE in 2005, Souq.com's expan- sion under Mouchawar’s leadership extended to KSA and Egypt. His inno- vative spirit and adaptabil- ity further catalysed Souq. com's reach by launching PayFort, a leading online payment service provider, and Q-Express, a logistics arm optimising delivery e ciency. A milestone was achieved in 2016, when Souq.com secured $275m in funding, yielding a valu- ation surpassing $1bn. This historic funding deal established Souq.com as the Arab world’s first unicorn, attracting global investors. later, he partnered with his former McKinsey colleague Magnus Olsson to launch a new business to help simplify the lives of people in the Middle East region. In 2012, they went on to launch Careem which went on to become a leading technology platform for the region, later acquired by Uber for $3bn in 2020. In Dubai, Careem provides customers 11 services, includin g payments, food and grocery delivery, ride-hailing, micro-mobility, payments, and more. In April 2023, backed by a $400M invest- ment, telecom giant e& aims to become a majority share- holder in Careem's Super App, while Uber retains full ownership of Careem's ride-hailing business. The Careem Super App o ers a range of services including food and grocery delivery, micro-mobility, fintech offerings, and third-party services like home cleaning and car rental. By making this strategic investment, Careem plans to accelerate the expansion of its Super App across the Middle East, North Africa, and South Asia. ECOMMERCETRANSPORTNext >