< PreviousFEATURE 20 Edge/ October 2024 As Saudi Arabia’s new Personal Data Protection Law (PDPL) takes eff ect this September, companies throughout the Kingdom are preparing to meet stringent data management and privacy standards. The law, modelled closely on the EU’s GDPR, aims to safeguard personal information and regulate data handling practices, aligning with Saudi Arabia’s Vision 2030 goals. Under the PDPL, businesses must obtain explicit consent for data collection, maintain robust security protocols, and report data breaches to the Saudi Authority for Data and Artifi cial Intelligence (SDAIA) within 72 hours. Osama Al-Zoubi, Middle East Vice BREAKING DOWN SAUDI ARABIA’S PERSONAL DATA LAW Key insights into the new data protection law and compliance for businesses INDUSTRY Words by Sindhu V Kashyap President at Phosphorus Cybersecurity Inc., emphasises the importance of these measures: “Companies must register with SDAIA and comply with regulations set by the Saudi Central Bank and the National Cybersecurity Authority. This is about compliance and fostering a culture of data protection.” According to Alexey Lukatsky, Managing Director and Cybersecurity Consultant at Positive Technologies, the PDPL marks Saudi Arabia’s fi rst dedicated data protection law, representing a signifi cant shift towards prioritising privacy and security. “Data controllers must adopt comprehensive measures to ensure the privacy and security of personal data, making it vital for businesses to reassess their data management strategies,” he explains. Companies will need to appoint Data Protection Offi cers (DPOs) and implement advanced tools such as Data Leakage Prevention (DLP) and Enterprise Rights Management Systems (ERMS) to ensure control over sensitive information. Lukatsky underscores the necessity of these tools for detecting and preventing unauthorised access and protecting against breaches. Preparing the PDPL requires a multifaceted approach, including auditing current practices and updating privacy policies. Fahad Al Suhaimi, Country Director for Saudi Arabia at Help AG, advises that “Companies must conduct data audits, 20 Edge/ October 2024 FEATURE Edge_Oct2024_20-21_Saudi Arabia PDPL_13390221.indd 2030/09/2024 17:00FEATURE Edge/ October 2024 21 / Personal Data Protection Law is Saudi Arabia’s first dedicated data protection law strengthen security measures, and train staff on compliance requirements to be ready by September.” He stresses the importance of creating a culture of privacy awareness across all levels of an organisation. Al-Zoubi concurs, noting that securing IoT devices is essential for full protection. “It’s about ensuring compliance in both theory and practice,” he says. Investing in employee training to raise awareness about data protection is crucial. “A well- informed workforce serves as a company’s fi rst line of defence against cyber threats,” adds Al-Zoubi. Engaging external expertise is another critical consideration. Lukatsky suggests consulting with cybersecurity fi rms or legal experts to navigate the complexities of the new law, particularly for companies needing more internal resources to implement the necessary measures. Companies will need help in aligning with the new regulations, particularly in managing large volumes of data, keeping pace with technology, and ensuring compliance with cross-border data transfers. “It’s about adapting to an evolving data protection landscape,” says Al Suhaimi. To mitigate risks, companies must focus on data minimisation strategies, collecting only essential information to reduce exposure to potential breaches. “By limiting unnecessary data collection, businesses can better manage their assets and reduce the risk of non-compliance,” Al Suhaimi advises. Failure to comply with the PDPL can result in penalties, including fi nes of up to SAR 5 million and potential imprisonment for serious breaches. However, exemptions exist for micro and small businesses, off ering some leniency. Lukatsky warns of the importance of understanding the full scope of the law to avoid penalties and reputational harm. Ransomware poses a unique challenge under the new law. Although paying a ransom is not explicitly addressed in the PDPL, it is generally discouraged. “Paying a ransom can lead to further attacks without guaranteeing data recovery,” warns Al- Zoubi. Lukatsky adds that paying a ransom could lead to secondary sanctions if the attacker is on a US sanctions list, highlighting the need for preventive measures. Developing comprehensive incident response plans that include early detection and system isolation is essential. Collaboration with authorities and cybersecurity experts will be vital in managing ransomware incidents and minimising damage. “By taking a proactive cybersecurity approach, companies can protect themselves against ransomware and other threats,” says Al-Zoubi. There are several resources available to aid companies in complying with the PDPL. SDAIA provides guidelines, and cybersecurity fi rms off er consultancy services. “Our fi rm offers training programmes and legal counsel to help businesses adhere to the new regulations,” Al-Zoubi notes. Lukatsky also highlights the importance of structured incident management processes, including communication protocols and escalation criteria. Al Suhaimi adds that technology plays a vital role in achieving compliance. Automated tools for data protection and risk assessment can streamline the process and off er insights into vulnerabilities. Companies mus t re main proac tive as Saudi Arabia strengthens its digital landscape and commitment to data protection. “By establishing a robust framework for data protection, Saudi Arabia is setting a regional benchmark for privacy,” concludes Al Suhaimi. The PDPL represents a pivotal moment for the Kingdom, promoting accountability and transparency in data practices. Edge/ October 2024 21 FEATURE The Personal Data Protection Law is Saudi Arabia’s fi rst dedicated data protection law, signalling a signifi cant shift towards prioritising privacy and security Edge_Oct2024_20-21_Saudi Arabia PDPL_13390221.indd 2130/09/2024 15:41FEATURE 22 Edge/ October 2024 FROM ZERO TO NASDAQ How Girish Mathrubootham Turned a Dream into a $3.5B Reality Words by Sindhu V Kashyap BUSINESS Edge_Oct2024_22-23_Feature_13382655.indd 2230/09/2024 15:42FEATURE Edge/ October 2024 23 Looking ahead, Mathrubootham is focused on AI’s potential. He sees it as transformative for Freshworks, akin to a decade-long shift towards SaaS Girish Mathrubootham, the founder of Freshworks, is not your typical tech mogul. Often hailed as India’s “God of SaaS,” he defi ed expectations by taking an Indian SaaS company public on NASDAQ, creating wealth and opportunity while inspiring a new generation of tech entrepreneurs. Yet, beneath the accolades lies a man driven by his passion for product development and a vision for India’s tech future. Now Executive Chairman of Freshworks, Mathrubootham recently stepped back from the CEO role, elevating Dennis Woodside, formerly of Dropbox, in a carefully planned transition. The company’s public debut on NASDAQ in 2021 was a pivotal moment to raise capital and prove Indian SaaS companies could compete globally. “Investors often doubted exits in India,” he says. “The IPO set a new benchmark.” Despite suggestions to move to the US as early as 2013, Mathrubootham initially resisted, preferring to build Freshworks from Chennai. But as the company expanded, he realised the necessity of being closer to top talent and customers in the US, especially in areas like fi nance and operations. “I’ve always been a product person,” he says. “My passion lies in product development, not sales and marketing.” Speaking from Dubai’s Burj Khalifa, Mathrubootham discussed Freshworks’ expansion into the Middle East with the launch of a UAE-based data centre. “This investment demonstrates our commitment to the region,” he says, recognising the Middle East’s rapid digital transformation and the rising demand for scalable customer engagement solutions. The data centre will help meet local data residency requirements and improve service performance for key clients, particularly government and large enterprises. Looking ahead, Mathrubootham is focused on AI’s potential. He sees it as transformative for Freshworks, akin to a decade-long shift towards SaaS. “We need to integrate AI in ways that deliver real value to our customers,” he emphasises. This commitment is where he plans to invest his time and energy. Beyond Freshworks, Mathrubootham is equally invested in India’s tech future. Through his Together Fund, he supports the next generation of Indian technology entrepreneurs building global product companies. “This mission is close to my heart,” he says. Mathrubootham’s journey began at Zoho in Chennai, where he fi rst saw the potential of Software as a Service (SaaS). Leaving a secure position to launch Freshdesk in 2010, he faced scepticism in a country focused on IT services. But Freshdesk, which later became Freshworks, quickly gained traction by prioritising customer needs and user-friendly products. Today, Mathrubootham’s leadership is defi ned by empathy, integrity, and his commitment to diversity. He champions gender diversity at Freshworks and actively works to address unconscious biases in hiring and leadership succession. “Success only amplifi es who you already are,” he says, a philosophy that has earned him respect and admiration throughout the tech world. As Freshworks continues to grow, Mathrubootham remains focused on innovation and his mission of helping Indian startups succeed globally. “We’re just getting started,” he says, smiling. /Freshworks recently launched its data centre in the UAE / Girish Mathrubootham during the 2021 NASDAQ listing of Freshworks Edge_Oct2024_22-23_Feature_13382655.indd 2330/09/2024 15:42COVER STORY 24 Edge/ October 2024 Edge_Oct2024_24-29_Cover Story_13387910.indd 2430/09/2024 15:49PARTNER CONTENT Edge/ October 2024 25 BUSINESS AN EMPIRE BUILT ON INNOVATION How Hatem Dowidar, e& Group CEO is leading the company’s tech revolution Words by Sindhu V Kashyap Edge_Oct2024_24-29_Cover Story_13387910.indd 2530/09/2024 15:49COVER STORY 26 Edge/ October 2024 metamorphosis. With a career steeped in telecom, Dowidar understood the risks of remaining static in an industry rapidly commoditising its core service: connectivity. “One of the fi rst things we noticed was the commodifi cation of connectivity,” Dowidar explains. “A s t h e wo r l d b e c a m e m o re interconnected, basic connectivity became a given, and the demand was universal. We were great at providing high-quality network performance, but as the telecom market matured, we realised that growth in that space alone was unsustainable.” This realisation spurred e& to embark on a bold journey of transformation. The strategy? To evolve from a telecom provider into a tech company that would enable digital life and actively shape it. “We are no longer just a provider of connectivity; we are an enabler of digital Few corporate transformations are as profound and symbolic as that of e&, formerly Etisalat. Over just a few years, the company has transitioned from being a traditional telecom operator to emerging as a global technology leader, serving markets far beyond its origins in the Middle East. Under the stewardship of the Group CEO Hatem Dowidar, this change was about setting technological trends and anticipating and shaping the future in a way few legacy companies have managed. This journey, marked by a bold vision, strategic acquisitions, and a relentless pursuit of innovation, refl ects a broader shift in the telecom industry — one that sees connectivity as the foundation upon which entire digital ecosystems are built. Dowidar’s leadership has been instrumental in guiding e& through this life,” Dowidar says with a measured but unmistakable sense of accomplishment. The company now operates across various sec tors, from f intech to cybersecurity, digital media, and AI. The breadth of its services refl ects the vision of its leadership and its understanding that in today’s world, connectivity is merely the beginning. At the heart of this transformation is a culture of dissatisfaction with the status quo, a trait Dowidar believes is essential for any leader aiming to drive fundamental change. “I’ve always believed that no matter how well we’re doing, there’s always room for improvement. That mindset has been 17 % Net profits growth Edge_Oct2024_24-29_Cover Story_13387910.indd 2630/09/2024 15:49PARTNER CONTENT Edge/ October 2024 27 both a strength and a challenge,” he says. Pushing employees beyond their comfort zones was critical to breaking away from the conservative culture traditionally defi ning e& as a telecom operator. “We moved from being cautious about trying new things to becoming a bold, forward-thinking tech company that embraces experimentation.” This shif t was challenging. Experimentation invites setbacks by its very nature, and e& had to learn to accept this as part of the process. However, Dowidar’s leadership has been about turning these failures into learning opportunities. “We’ve cultivated a culture where setbacks are seen as a stepping stone to success,” he explains. “This has made us more agile and adaptable, which is crucial in today’s fast-moving tech landscape.” The company’s internal culture now revolves around three core values: customer obsession, daring to be bold, and uniting as one. These values underpin the company’s operations and approach to innovation and growth. Dowidar notes that these aren’t just platitudes to be hung on a wall. Every employee lives them and has become integral to the company’s ability to keep pace with technological changes. One of the hallmarks of e&’s success has been its carefully executed global expansion strategy. Far from being satisfi ed with dominating the UAE market, the company has sought to extend its reach into new territories through organic growth and strategic acquisitions. “Our global expansion strategy has been a mix of increasing our telecom footprint and acquiring companies that bring new capabilities into the fold,” Dowidar says. Connectivity is no longer just about making phone calls or sending messages; it’s the foundation of our digital ecosystem Edge_Oct2024_24-29_Cover Story_13387910.indd 2730/09/2024 15:49COVER STORY 28 Edge/ October 2024 This dual approach has enabled e& to strengthen its core services while branching into new, high-growth sectors. For instance, the acquisition of four telecom operations in Eastern Europe is nearing completion and will allow the company to expand its connectivity services to new markets. However, investments in adjacent tech sectors are equally important. One such example is the majority stake in the Careem Super App, which has allowed e& to deepen its presence in digital lifestyle services and fi ntech The company’s expansion into the media space, with the acquisition of StarzPlay, and its forays into cybersecurity through the purchase of Help AG highlight a broad and targeted strategy. “These acquisitions have created synergies between our telecom and tech businesses,” Dowidar explains. “As we expand our telecom footprint, we can also off er our newly acquired tech services in these markets. This integrated approach has allowed us to capture opportunities in both existing and new sectors.” Despite the diversif ication of its services, connectivity remains at the hear t of e&’s operations. Dowidar quickly emphasises that none of the company’s newer services would be possible without digital connectivity. “Connec tivit y is no longer just about making phone calls or sending messages; it’s the foundation of the digital ecosystem,” he says. In this sense, e& sees itself not as a telecom company but as a digital enabler — providing the infrastructure upon which entire digital lives are built. Nowhere is this more evident than in the fi ntech space. In markets such as Egypt, Pakistan, and the UAE, mobile banking services like e& cash, U Bank, and e& money have opened access to fi nancial services for millions who previously had none. “Our vision is to provide the connection and enhance what people can do with that connection,” Dowidar explains. Through mobile banking platforms, e& is helping drive fi nancial inclusion in regions with limited traditional banking services. As e& prepares for its participation in GITEX 2024, the company will showcase its latest AI and other advanced technologies innovations. Last year, AI was a key focus for the company, and this year promises to be no diff erent. “Generative AI is taking centre stage,” Dowidar says. Over the past year, e& has launched over 800 AI projec ts in the UAE alone, ranging from consumer-facing applications to enterprise solutions. Dowidar believes that AI, particularly generative AI, has fundamentally changed how businesses interact with technology. “Generative AI allows people to do things Our vision is to provide the connection and enhance what people can do with that connection Edge_Oct2024_24-29_Cover Story_13387910.indd 2830/09/2024 15:50PARTNER CONTENT Edge/ October 2024 29 fi nancial performance. In the fi rst half of 2024, e& reported consolidated revenues of AED 28.3 billion, marking a six per cent year-on-year growth. Net profi ts grew by 17 per cent, reaching AED 5.5 billion, a testament to the eff ectiveness of its growth strategy. Consolidated EBITDA also saw a healthy rise, demonstrating that the company’s forays into new sectors are paying dividends. Chairman H.E. Jassem Mohamed Bu Ataba Alzaabi attributes this success to e&’s strategic acquisitions and partnerships. The company’s commitment to its shareholders is evident, with a newly approved dividend policy that guarantees incremental payout increases over the next three years. As e& continues to expand both its geographic reach and its service off erings, the company is well-positioned to remain at the forefront of the tech landscape. Its ability to integrate telecom and tech services, combined with its commitment to innovation, ensures that e& is not just adapting to the future but helping to shape it. Refl ecting on the company’s journey, Dowidar remains grounded but optimistic. “We are constantly looking for ways to expand horizontally and vertically,” he says. “There’s always room for improvement, and that drive for continual betterment will always be a part of who we are.” As the digital landscape continues to evolve at breakneck speed, e& stands as a testament to what is possible when a company dares to rethink its identity. What began as a telecom operator is now a global tech leader, proving that in the world of technology, the only constant is change — and for e&, an unwavering commitment to innovation and excellence drives that change. that were previously only possible for highly trained specialists,” he says. “For example, you can now describe an app you want to create in plain language, and the AI will generate the code for you.” He argues this is not just a technological leap but a democratisation of AI — making it accessible to businesses of all sizes. At GITEX, e& will showcase AI applications that simplify operations, personalise customer experiences, and automate repetitive tasks. The company also leverages AI internally to streamline its processes and make its teams more effi cient. Dowidar is clear about the potential of AI to drive future growth, both for e& and for the tech industry at large. “As generative AI continues to evolve, we expect it to play an even bigger role in shaping our business operations and driving innovation across the company.” The company’s transformation into a tech leader has also been refl ected in its / Today e& is not only a telecom company, but a global digital enabler 800 AI projects ranging from consumer facing apps to enterprise solutions in UAE alone Edge_Oct2024_24-29_Cover Story_13387910.indd 2930/09/2024 15:51Next >