Bank of Nigeria

Access confirmed for over 132,000 Nigerian bankers to CISI’s global professional development program

The significance of the Chartered Institute for Securities & Investment’s (CISI) global professional development programme in Nigeria has been officially recognised by the Chartered Institute of Bankers of Nigeria’s (CIBN) accreditation of CISI as an Educational Service Training Provider (ESTP).

The important accreditation means that CISI’s exemplary Continuing Professional Development (CPD) online learning programme can count towards CIBN members’ annual CPD requirements. The deal also means that CIBN members can study for CISI’s suite of global qualifications in the knowledge that they have CIBN’s endorsement. Some of the qualifications promoted under the partnership with CIBN include:

– International Certificate in Wealth Management (ICWIM)
– Risk in Financial Services
– Global Financial Compliance

With a history dating back to 1963, the CIBN’s vision is to be a global reference point for professionalism and ethics in the banking and finance profession in Nigeria.

With over 45,000 members in 100 countries, CISI’s 40,000 qualifications and exams are recognised by 60 global financial services regulators. The CISI’s global qualifications programme encompasses the professional financial services sectors of wealth management, financial planning and capital markets, offering an accessible study pathway for those looking to get into or develop their careers in the dynamic global financial services profession.

The CISI’s CPD digital platform contains over 180 e-learning modules, or “Professional Refreshers”, 500 videos on the CISI TV channel and 1,300 articles in the exclusive CISI member magazine The Review.

Praneet Shivaprasad, CISI Senior International Manager said: “We are honoured and excited to achieve this important accreditation from the CIBN, which has a critical role in capacity building and the promotion of ethics and professionalism in the Nigerian financial services sector. Our global qualifications and CPD e-learning programme will provide CIBN members with an opportunity to complement their excellent CIBN training and qualifications with our own CPD programme to help ensure their learning is relevant and up to date to meet the needs of our fast-moving, competitive, global capital markets.”

The CISI has been working in Nigeria for over four years and has agreements with a number of prestigious Nigerian institutions, in addition to the CIBN, including the Chartered Institute of Stockbrokers (CIS). Its agreement with the African Securities Exchange Association (ASEAN) has allowed it to develop a close relationship with the Nigerian Stock Exchange (NSE), who’s Chief Executive Oscar Onyema is a CISI member.

For further information on the CISI CPD programme contact [email protected]

Dubai real estate

Dubai Real Estate Deals Hit 11-Year High In 2019

Dubai registered a total of 41,988 real estate transactions in 2019, marking the highest number of sales transactions registered annually in Dubai since 2008, said Property Finder, a leading property portal in Mena.

The number of property deals during 2019 also marks a growth of 20 per cent in the volume of registered property sales transactions compared to 34,961 transactions in 2018, according to Data Finder, the real estate insights and data platform under the Property Finder Group.

There were 11,662 property sales transactions registered in Dubai in 2008. The Dubai real estate market has, therefore, grown by 260 per cent in the past 11 years in terms of the volume of transactions. The second highest number of property sales transactions registered in Dubai since 2008 was in 2017 (40,649).
This news comes on the heels of recent reports about the Dubai property market regaining momentum, especially after the announcement of the formation of the Higher Real Estate Committee to rebalance supply and demand, back in September 2019. The committee helped inspire market confidence, with both October and November 2019 seeing record number of transactions – 4,774 and 5,037, respectively.

December 2019 clocked in 2,989 registered property sales transactions. Other good months for property sales in Dubai last year were July (4,234), September (4,007) and May (3,512).

“Going into 2020 and leading up to the Expo, we should continue to see transaction levels increase and prices start to stabilise in certain areas. We have already started to see certain market dynamics shift as a direct effect from Expo and these trends will most likely continue throughout the year,” said Lynnette Abad, director of Data and Research, Property Finder.

Off-plan vs secondary transactions

There continues to be a preference for off-plan properties, with this asset class accounting for an overall 23,643 transactions in 2019. This could be because of attractive prices and incentives offered by developers such as a waiver of service fees, a wide range of post-handover payment plans, discount on registration charges and commissions, guaranteed rental returns, among others. However, new off-plan launches were considerably down from their 2017 and 2018 levels.

With several potential buyers still unable to afford the down payment stipulated by the UAE Central Bank to qualify for a mortgage, purchasers are increasingly opting for developer-sponsored payment plans to fund their off-plan properties. This has resulted in several first-time homebuyers getting on the property ladder.

Dubai registered 18,345 transactions in the secondary market last year. With new homes becoming completed thick and fast, developers are forced to come up with rent-to-own schemes and other initiatives to make sure that they are not left with unsold, ready units. This makes it a perfect buyer’s market, with attractive prices, good deals and plenty of options to choose from. However, in such schemes, the price of a property is typically higher than a comparable property currently on the market.

As per Data Finder project and supply data, there were over 45,000 units completed in 2019 which was the highest amount of units completed in one year over the last five years.

Meanwhile, the top 5 areas which witnessed the highest overall property sales transactions in 2019 were Business Bay (3,146), Downtown Burj Khalifa (2,816), Dubai Creek Harbour (2,492), Dubai Hills Estate (2,373) and Dubai South (2,048).

For off-plan sales, the top 5 performing areas in Dubai were Dubai Creek Harbour (2,423 transactions), Downtown (2,088), Dubai Hills Estate (1,949), Dubai South (1,942) and Business Bay (1,811).

On the secondary market, areas that witnessed the most sales were International City (1,342), Business Bay (1,335), Dubai Marina (1,280), Jumeirah Village Circle (1,108) and Jumeirah Lakes Towers (851).

Saudi Arabia

Saudi Arabia Launches Third Round Of National Renewable Energy Program

Saudi Arabia has launched the third round of its national program to build up solar power generation capacity in the Kingdom.

The Renewable Energy Project Development Office (REPDO) of the Ministry of Energy has issued the request for qualifications (RFQ) for Round Three of the Kingdom’s National Renewable Energy Program (NREP), the official Saudi Press Agency (SPA) said on Thursday.

The new phase comprises of four solar photovoltaic (PV) projects with a combined generation capacity of 1,200 megawatts (MW). The RFQ window for round three closes on February 6, 2020.

The statement said the third round would be divided into two categories – Category A targets smaller companies, and includes the 80 MW Layla and the 120 MW Wadi Al Dawaser solar PV projects while Category B includes the 300 MW Saad and 700 MW Ar Rass solar PV projects.

Projects within round three will carry a minimum requirement of 17 percent local content in order to increase the value-added contribution of products and services in the national economy, the statement quoted REPDO head Faisal Alyemni as saying.

In 2017, REPDO had tendered the first round which included the 300 MW Sakaka solar PV and the 400 MW Dumat Al Jandal wind power projects.

In July 2019, REPDO launched Round Two of the NREP which comprised of six solar PV projects totaling 1,470 MW. The deadline for receiving proposals is 20 January for Round Two projects and 3 February for Categories B and A.

Abu Dhabi

UAE Marching Towards Becoming A $500bln Economy

Rapid economic diversification underpinned by a string of bold reforms and a series of government stimulus measures are set to drive UAE growth at a steady pace as its gross domestic product (GDP) remains on track to surpass the $500 billion mark over the next few years.

The latest projections by the International Monetary Fund (IMF) show that the UAE’s non-oil sector, pivotal to this all-round growth, will surge from 1.3 per cent in 2018 to 1.6 per cent in 2019 and 3 per cent in 2020.

With a GDP of $414 billion in 2018, the UAE has been successfully diversifying away from oil, which accounted for more than 85 per cent of the economy in 2009.

As a result, oil GDP growth is forecast to slow down from 2.8 per cent in 2018 to 1.5 per cent this year and 1.4 per cent next year when non-oil sectors such as tourism, aviation, retail, hospitality, real estate and construction will spur the expansion as the World Expo gives an added momentum to the pace of growth.

According to economists, the expansion in non-oil activity is slowly beginning to translate into stronger job creation, although at a modest rate. A massive construction boom, an expanding manufacturing base and a thriving services sector are helping the UAE diversify its economy while tourism continues to be a key non-oil source of revenue with some of the world’s most luxurious hotels being based in the UAE. Nationwide, there is currently $350 billion worth of active construction projects underway.

Another growth driver of the UAE economy is the aviation market that is poised to grow 170 per cent by 2037 while supporting 1.4 million jobs and contribute $128 billion to the nation’s economy, according to the International Air Transport Association, or Iata, said on Tuesday.

In its latest study on the importance of air transport to the UAE, the International Air Transport Association said the domestic aviation industry at present supports nearly 800,000 jobs and contributes $47.4 billion to the economy, accounting for 13.3 per cent of the UAE’s GDP.

However, given the ongoing prioritisation of aviation by the UAE government as a key strategic asset, the sector could generate an additional 620,000 jobs and an extra $80 billion in GDP for the nation’s economy by 2037, the trade body of 290 airlines across the world said.

The outlook for the industrial sector in the UAE is very bright indeed, especially considering the success of some of its national industrial companies in establishing themselves as major contributors to global value chains in a variety of advanced industrial sectors, such as aviation and defence, aluminium and other leading industries.

Over the next 10 years, UAE’s specialised industrial zones are on track to play an important role in attracting local and international capital to invest in the industrial sector. The UAE also seeks to attract international companies to launch pioneering projects in this country and to develop strong partnerships with industrial companies at both the local and international level.

Adding to this, the UAE is giving strong emphasis to the SME sector, expecting them to enter the advanced industrial sector and contribute to global value chains. The government also expects homegrown companies to eventually play a major role in driving innovation and employing new technologies within the national industrial sector.

The federal government has stressed that education will remain a priority and the nation’s path to the future. The new year’s federal budget has allocated a large proportion to funding federal schools and development projects. The Cabinet has approved a national fund to support and train Emirati jobseekers and made legal amendments to ensure Emiratis in the private sector receive a pension as they would in the public sector.

Therefore, it is likely that this string of recent reforms and new liberal rules will see that the UAE sustain its growth momentum to become a $500 billion economy in the not too distant future.

FRV

FRV To Develop Energy Storage Projects Globally

Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy and a leading global developer of renewable energy projects, has announced its first battery project as a part of  its long-term investment plan to develop energy storage projects globally.

The plan includes long-term investments in battery energy storage projects that play a central role in the market, supporting the increasing penetration of renewables in the global energy mix.

FRV’s first battery energy storage project is located at Holes Bay, in Dorset, United Kingdom, in collaboration with the British developer Harmony Energy, which builds, owns and operates renewable energy assets across the UK.

The Holes Bay project will be comprised of lithium-ion batteries with a combined capacity of 15 MWh, connected to the Southern Electric Power distribution network, with the capability to store energy and provide flexibility to the grid.

Holes Bay will be a first-of-a-kind development in the UK and Europe, utilising cutting-edge control and storage technologies. Construction will start in January 2020, with commissioning expected within three months, for what will be one of the largest battery energy storage systems in the South of England.

Harmony Energy, with the backing of FRV, has also conditionally pre-qualified 300 MW of new battery energy storage systems in the UK Capacity Market, with this pre-qualified capacity making up 16% of the total 1.8 GW battery energy capacity. The UK has been a pioneer in deploying these systems in a competitive and open market, creating perfect conditions for integrators, developers and investors to embrace the benefits of incorporating these clean technologies into the energy mix. FRV believes investing in low-carbon initiatives in the United Kingdom is essential to support the Country´s ambitious 2030/50 decarbonisation targets and believes battery energy storage will provide the capacity and flexibility National Grid needs.

Felipe Hernandez, Managing Director Engineering and Asset Management of FRV, notes: “FRV is already collaborating with governments, regulators, and partners around the world to lay the foundations for a new energy model. Energy storage plays a central and critical role to fully realise the power of renewable energy, and FRV acknowledges the value of this technology as a key element to achieve a decarbonised society.”

“The Holes Bay project will be the first in a strategic energy storage pipeline to be launched both globally and within the UK. We are pleased to join efforts together with Harmony Energy, demonstrating the economic and technical feasibility of the battery energy storage system.”

Peter Kavanagh, CEO of Harmony Energy, said “This is a hugely significant project for Harmony, because it is the first in a large pipeline of utility-scale battery storage plants in the UK, and we’re looking forward to working with FRV to bring Holes Bay forward in the new year”.

“Wind and solar projects remain key but battery storage is the missing link in the UK’s renewable energy strategy, both in terms of controlling grid frequency and providing backup during periods of peak demand and supply. We have over 500 MW of battery energy storage assets construction-ready and with the backing of FRV, we have also pre-qualified 300 MW of new battery energy storage systems into the UK’s Capacity Market. It’s a critical time for battery energy storage in the UK and we are pleased to be at the forefront of development.”

Fady Jameel, Deputy President and Vice Chairman, Abdul Latif Jameel International, further commented: “Abdul Latif Jameel Energy, through our pioneering renewables operation FRV, continues to advance a sustainable energy future through innovation and strategic partnerships, progressing the economic viability of renewables and eventually arresting the impacts of climate change. We are proud to partner with Harmony Energy and be part of the ground-breaking development of the UK’s strategic sustainable energy programme.”

Dubai Burj Khalifa

New Report Reveals How The UAE Economy Will End 2019

The UAE will end 2019 on a better note than in previous years, with the economy forecast to hit a 2 per cent real growth, according to a new report by the Ministry of Economy.

The improved economic performance is due to an increase in output and export capacity in the oil sector, which is expected to hit 3.1 million barrels per day in 2019, as well as the growth in non-oil industries.

The economic narrative for the UAE looks more promising compared to the last few years, when the economy weakened significantly, posting only a 0.5 per cent growth in 2017 and 1.7 per cent in 2018, the report said.  

Compared to its global peers, which have been impacted by trade fears, tightening bank credit policies in China and narrowing financial conditions, among other factors, the landscape looks better for the UAE as well. Estimates by the International Monetary Fund (IMF) showed that global economic growth will continue to slide from 3.6 per cent in 2018 to 3.2 per cent in 2019, after hitting a 3.8 per cent peak in 2017.

The UAE prides itself on being one of the most diversified economies in the world, with the non-oil sector, constituting 70 per cent of the gross domestic product (GDP), “accelerating” its growth pace.

Top officials had acknowledged that despite its diversification efforts, the UAE is not completely immune to external shocks but that the country has managed to cushion the impact of a global slowdown.

Sultan bin Saeed Al Mansoori UAE Minister of Economy said: “Global economic activity has been weak in 2019, as a result of numerous updates that have affected the entire economic landscape,”

He noted that with the UAE’s economic model, and by “deepening the role of innovation, technology, knowledge and research,” as well as by “supporting national entrepreneurship,” the country succeeded in limiting the “impact of these global economic variables.”

The Ministry of Economy’s annual economic report was released at the ongoing UAE Economic Forum, to provide an explanation and an overview of the economic conditions, variables and indicators in the UAE during 2018.

As for the overall cost of living, it looks like the numbers have eased, with the UAE Ministry of Economy predicting the inflation rate to drop to -1.2 per cent by the end of the year. This is partly due to the decline in housing rent and oil prices.

As for merchandise exports, there will be an increase of 4.2 per cent, and the total value of which is expected to reach about $33.02 billion, up from $316.9 billion in 2018. The volume of imported merchandise will likewise grow by 4.3 per cent to hit $245.4 billion, compared to $235.4 billion in 2018.

As for the other indicators, there is no forecast for the end of the year, although the UAE Ministry of Economy highlighted the achievements of some industries over the last several years.

Speaking at the conference on Wednesday, Nada Al Hashimi, director for economic research at the Ministry of Economy, noted that the UAE has made significant progress in certain sectors over the past five years, with the information and communications sector growing at an annual rate of 5.4 per cent; the education and professional, scientific and technical activities sectors posting a yearly growth of 5.6 per cent and 1.9 per cent, respectively.

The two-day forum is being held under the patronage of His Highness Shaikh Mohammad bin Rashid Al Maktoum, vice president prime minister and ruler of Dubai.

greenpack

GreenPack Empowers Innovative Mobility Projects In Kenya

• GreenPack delivers 50 battery packs to Kenya
• GreenPack battery provides offroad e-cargobike with energy
• E-bikes are used, among other things, for transporting clean drinking water

Providing green energy for everyone as needed – this GreenPack leitmotif is currently being implemented not only at more and more sites in Germany, but also at Lake Victoria in Kenya. This is where the high-performance standardised rechargeable battery of the Berlin-based GreenTech company is used as part of the Siemens Foundation’s WeTu project.

In addition to the “WeWater” and “WePower” business units, which stand for clean drinking water and sustainable energy solutions, the “WeMobility” division has set itself the goal of introducing innovative electromobility solutions in the region. With solar energy, sharing economy approaches and local production, the infrastructure will be expanded and will enable added value to be created locally.

The GreenPack battery supplies all-terrain cargobikes in the WeMobility project area. The oversized e-cargobikes of the Berlin start-up Anywhere.berlin have electric motors and extra-wide tires to reliably transport loads of up to 160 kilograms, even beyond paved roads. The e-cargobikes are used, for example, for the transport of drinking water, which is obtained as part of the WeTu project area WeWater using modern filter systems in Mbita and other locations on the shores of Lake Victoria – an important contribution, because in the region, only 35 percent of people have access to clean drinking water.

Kenya

Electric vehicles and electromobile applications are very well suited for use in rural areas of East Africa and represent an environmentally friendly alternative to existing means of transport – especially against the background that due to the favourable climatic conditions, an energy-autonomous charging infrastructure can be built and operated.

The standardised, exchangeable GreenPack battery in conjunction with a solar charging infrastructure enables efficient and sustainable use. In total, the Berlin start-up has sent 50 batteries to the WeTu locations on Lake Victoria.

“We are proud to support this Siemens Foundation project with our replaceable batteries, thereby helping to promote environmentally friendly mobility, affordable transportation and local production, as well as creating sustainable jobs at Lake Victoria,” said Tobias Breyer, CMO of GreenPack.

“Electromobility makes sense not only in Europe, but especially in rural regions in Africa. We chose the GreenPack battery as part of the WeMobility project because of its high performance, ease of use and easy changeability, enabling it to build an efficient mobility system based on rental batteries,” explains Marah Köberle, Project Manager of E Mobility at the Siemens Foundation.

The 2019 GCC Enterprise Awards Press Release

Image

MEA Markets Magazine Announces Winners of the 2019 GCC Enterprise Awards.

United Kingdom, 2019– MEA Markets magazine announces the winners of the 2019 GCC Enterprise Awards.

Returning for the third year, the GCC Enterprise Awards celebrates the accomplishments made by the most talented, innovative, and dedicated firms and individuals across this diverse and vibrant market.

Despite a challenging economic climate in the region, business performance in the GCC remains stronger than ever and we want to acknowledge the efforts which have made this so.

Commenting on the success of these deserving winners, Chloe Smart, Awards Coordinator said: ‘Our award winners are part of an exclusive and illustrious group, comprising of some of the most influential and promising names in the market today and I am proud of each and every one of them. I would like to offer them my congratulations and best wishes for the future.’

To find out more about these prestigious awards, and the dedicated professionals selected for them, please visit http://www.mea-markets.com/ where you can view our winners supplement and full winners list.

ENDS

Notes to editors.

About MEA Markets

Published quarterly, MEA Markets endeavours to provide readers with the latest business and investment news across the Middle East and Africa regions.

Keeping pace with a vast array of ever-changing sectors thanks to regular contributions from some of the region’s top corporate professionals across a variety of industries, MEA Markets is home to the very best news, features and comment from the people and institutions in the know.

MEA airlines

Gulf Air and Middle East Airlines in Codeshare Partnership

Gulf Air, the national airline of the Kingdom of Bahrain, and Middle East Airlines-Air Liban, the flag carrier of Lebanon, proudly announce their codeshare, for travel commencing from 3 December 2019 following the signing of a Memorandum of Understanding (MOU) between the two airlines. The agreement will see Middle East Airlines place their ‘ME’ code on Gulf Air flights on the Beirut-Bahrain-Beirut route.

Mr. Krešimir Kučko, Gulf Air’s Chief Executive Officer said: “We are glad to sign this codeshare with Middle East Airlines and offer their passengers direct daily service from Beirut to Bahrain on Gulf Air. Beirut has always been a key route in our Middle Eastern network and we welcome this partnership with the flag carrier of Lebanon”.

Mr. Mohamad El Hout, Chairman – Director General of Middle East Airlines added: “This codeshare with Gulf Air will complement the MEA network to the Gulf. We are pleased with this partnership with Gulf Air that will enable us to offer to our loyal passengers a new destination Bahrain and many other destinations in Asia via the Gulf Air network”.

Gulf Air connects the Kingdom of Bahrain and Lebanon with daily flights to Beirut-Rafic Hariri International Airport with more frequencies during high seasons such as the summer period.

MEA Q4 2019 cover

Q4 2019

Welcome to the Q4 issue of MEA Markets Magazine, the quarterly publication dedicated to providing our readers with all of the latest news and features from across the Middle East and Africa. As both a leading business hub and hive of busy, vibrant growth, the MEA region offers companies of all sizes with a plethora of growth opportunities. This quarter’s issue shines a spotlight on just a handful of the businesses who have seized these opportunities and capitalised on them.


For instance, on the cover of this issue is LETA Professional Training and Services. Founder Precious Zeinzinger-Tuitz spoke to MEA Markets to discuss how LETA has secured its enduring success in South Africa and how it plans to expand further in the future.

On the other side, we have Vertical Field. As our ‘AgriTech Company of the Year’, Vertical Field have emerged as one of the leading innovators in the emerging Agritech industry, developing solutions designed to improve food supply and quality of life in the urban ecosystem. We spoke with CEO Guy Elitzur to find out more.

But, that’s just a small glimpse of what we have in store for this issue. In the meantime, we hope you have a fantastic start to 2020 – see you in March!

Dubai Marina

Dubai-based Fintech, Beehive, Releases State of the SME Ecosystem Report

Beehive, MENA’s first regulated peer to peer lending platform, has released an insightful new report revealing the state of MENA’s SME ecosystem.

The report is based on quantitative and qualitative SME research, including a survey of 175 SME owners and senior management and a roundtable of 13 prominent SME founders / CEOs.

Key findings from the report include:

• Surveyed MENA SMEs have more women in senior positions than the global average.
• 28% of respondents see innovation as a priority for growth, yet only 2% of business owners are currently trying to access finance to fund it.
• SMEs offer young people a great opportunity for development. 48% of SMEs would hire someone under 25 with no experience.

The report focused on key areas that impact SMEs such as talent acquisition, innovation and growth factors. The survey results showed positive indicators such as SME appetite for market expansion and the opportunity for women in business.

The region also fares well as a leading destination for young people to start their careers in start-ups and SMEs. This popularity has the potential to establish MENA as a hotbed of budding entrepreneurs.

In the report, SMEs highlight challenges and areas where they feel they could benefit from more support initiatives to help them drive growth, such as innovation. They also talk about new ways of working in order to stay competitive and take advantage of business opportunities.

The report is released as Beehive celebrates a key milestone of five years of operation. Launched in 2014, the company has grown from a start-up to become leading fintech SME in the region with a team of 30 in the UAE and a further 17 employees in Thailand. The company has also recently expanded to Bahrain and has further exciting expansion plans in 2020.

Craig Moore, Beehive CEO commented: “We’re delighted to be celebrating five years of operation in the region and very much see Beehive as an SME for SMEs. During our five years we have amassed a significant amount of data which gives us an invaluable insight into the SMEs landscape. This report digs deeper to assess their business challenges and opportunities, as well as their attitudes and opinions as SME owners and senior management.”

View the full report here.

Flypgs

Another step towards gender equality in business: Pegasus Airlines signs up to IATA’s ‘25by2025’ pledge

Pegasus Airlines is committed to promote gender diversity as one of the first airlines in the world to have signed IATA’s ‘25by2025 gender balance pledge, an initiative for IATA member airlines to improve female representation in the industry by 25%, or up to a minimum of 25% by 2025.

In line with Pegasus Airlines’ ongoing efforts to promote gender equality in business and the aviation sector, Pegasus has signed IATA’s “25by2025” initiative. In a ceremony held in Berlin, Germany, Pegasus Airlines CEO and IATA Board Member Mehmet T. Nane signed a gender balance pledge for the company as part of a voluntary campaign for IATA member airlines to improve female representation in senior or under-represented roles in the industry by 25%, or up to a minimum of 25% by 2025.

Commenting on the initiative, Mehmet T. Nane said: “Gender equality is a very important and ongoing issue for us at Pegasus Airlines, demonstrated by the successful initiatives we’ve implemented thus far. By signing IATA’s ‘25by2025’ initiative, we are now pledging to improve gender balance in our workplace. We are proud to be among the first airlines in the world to have taken this pledge.  We are also proud to have women excelling in their fields at every level in Pegasus Airlines, from pilots to senior management. Having made this pledge, and with our continued commitment to gender equality, increasing the number of female employees at Pegasus will now to be one of our primary goals moving forward.”

“We welcome Pegasus’s commitment to the 25by2025 campaign. We need a skilled, diverse and gender balanced workforce to meet the growing needs of our customers. Aviation is the business of freedom. And 25by2025 will help this important global industry be an even better employment opportunity for all people looking to make their career by linking the world,” said Alexandre de Juniac, IATA’s Director General and CEO

In 2016, Pegasus Airlines became the first airline in the world to endorse the United Nations Women’s Empowerment Principles (WEPs), illustrating the significance that the airline places on gender equality and the role of women in business and the workplace. As a member of Turkey’s Directorate General of Civil Aviation Committee for the Development of Social Gender Balance, Pegasus Airlines continues to support awareness-raising programs for women regarding job opportunities in aviation, and to improve the quality and quantity of roles available to women in the sector. Also, as part of the “CEO Manifesto in Support of Gender Equality” prepared by the Professional Women’s Network (PWA) Istanbul, Pegasus Airlines CEO Mehmet T. Nane has enlisted his voluntary services as a ‘PWN Equality Ambassador’ with the mission to increase public awareness around the issue. Pegasus also supports the Women in Sales (WiS); a platform co-chaired by Pegasus Airlines Chief Commercial Officer Güliz Öztürk to increase the gender balance between women and men in company sales departments.