Category: Finance

Despite the access to financial services that mobile money has introduced across Africa, a significant portion of the population remains unbanked and underserved. Data sharing holds the key to unlock the continent’s vast economic potential.

Financial institutions have traditionally relied on conventional credit histories and collateral to assess customers’ risk profiles, often excluding those without formal profiles in the process. However, alternative data sharing allows for a more nuanced understanding.

By analysing data from mobile money transactions, utility payments and even airtime purchases, institutions can now assess risk and creditworthiness, empowering previously excluded individuals to access financial products and services.

Access to credit is crucial – our Consumer Pulse Study from Q2 2024, conducted in Botswana, Kenya, Namibia, Rwanda and Zambia showed the vast majority of consumers responding that access to credit and lending products is essential for achieving financial goals. However, not even 40% of respondents believed they have sufficient access to credit, except in Botswana (45%).

Botswana has made significant strides in improving consumers’ access to finance and credit in Q2 2024, marking a notable 10 percentage-point increase from the previous year. And it’s telling that a growing number of respondents from Botswana (55%, up from 46% last year) believed incorporating alternative information not usually included in standard credit reports – such as rental payments and gym memberships – would improve their credit scores.

The figures were borne out in the other regions too: 60% in Kenya, 49% in Rwanda, and 50% in Zambia, for instance. This indicates a shift in consumer perception toward a more robust approach to credit scoring.

What does this look like in practice? Picture a small business owner in the rural area in any one of these countries who faithfully pays their electricity bill through mobile money. Data sharing can reveal this positive financial behaviour, allowing them to qualify for a loan to expand their business. This financial inclusion, in turn, fuels economic growth and poverty reduction.

And that kind of example is just for starters: data sharing can unlock a world of possibilities beyond access to basic financial services. Imagine micro-insurance products tailored to specific needs, targeted financial literacy initiatives, or even personalised investment opportunities – all driven by insights gleaned from alternative data.

Secure data sharing

Of course, there are always concerns around data privacy and security, and these must be in place for data sharing to succeed. This means countries need robust regulatory frameworks that ensure user consent and privacy protection. In addition, trust must be built through transparent communication and education, as this will empower users to understand how data benefits them.

Just as financial inclusion requires a collaborative effort, collaboration is also at the foundation of efficient, effective data sharing. Private companies, governments and development agencies must work together to create a secure data-sharing ecosystem. This might involve creating standardised data formats and APIs to facilitate seamless – and secure – information exchange that protects clients’ privacy while opening up new financial avenues for them.

Beyond collaboration, to fully leverage financial inclusion for poverty reduction and economic growth in developing countries, we will need a multifaceted approach – which includes government policies, private-sector initiatives and community engagement.

Community engagement, in particular, is crucial – because trust and digital illiteracy are significant hurdles in promoting data sharing for financial inclusion in Africa. For many, the financial system feels complex and unapproachable, and a lack of transparency around data collection and usage can make people feel like they’re relinquishing control over their personal information.

In addition, those unfamiliar with digital technologies might not grasp the concept of data sharing or its potential benefits. They might struggle to understand the technical jargon used to explain the process.

Financial institutions and governments, therefore, need to be clear and upfront about data-collection practices. Publishing clear data privacy policies and allowing users control over their information can help to build trust.

Financial-literacy initiatives that explain data sharing in simple terms and highlight its benefits are also crucial, and public-awareness campaigns can dispel myths and build trust in the system.

Finally, trusted public figures like community leaders can play a vital role in explaining the benefits of data sharing and addressing concerns.

Data sharing is not a silver bullet, and of course there are challenges like overcoming digital literacy gaps and ensuring responsible data governance. However, by embracing this powerful tool, financial institutions – and the clients they serve – can unlock a future where financial inclusion empowers all Africans to participate in the continent’s economic rise.

As of September 2023, Zimbabwe’s publicly guaranteed debt stood at $17.7 billion

China has written off an unspecified amount of Zimbabwe’s interest-free loans and pledged to help the Southern African country find a way out of its debt crisis, even as activists warned of a permanent debt trap.

As of September 2023, Zimbabwe’s publicly guaranteed debt stood at $17.7 billion, of which $12.7 billion was external and $5 billion domestic.

Most of the foreign debt was purchased from China, as the country is ineligible for loans from multilateral creditors such as the World Bank and the International Monetary Fund (IMF) after defaulting on repayments since the turn of the millennium.

Since the fall of long-time ruler Robert Mugabe six years ago, Zimbabwe has been struggling to reach an agreement with creditors to restructure its unsustainable debt.

Read: Africa’s creditors come calling as debt distress looms largeFormer Mozambican president Joachim Chissano and African Development Bank President Dr Akinwumi Adesina are leading the debt restructuring dialogue, which suffered a blow last month when the United States withdrew its support, citing Harare’s reluctance to reform.

China, now Zimbabwe’s largest non-Paris Club creditor, says it is ready to help the country resolve its debt quagmire.

Some estimates put Zimbabwe’s debt to China at $3 billion.“China attaches great importance to resolving Zimbabwe’s debt issues,” said China’s ambassador to Zimbabwe Zhou Ding.“China would like to enhance communication with the Zimbabwe government to work out proper statements through friendly consultation. As a concrete measure, China has cancelled Zimbabwe’s interest-free loans, which matured by the end of 2015.”Mr Zhou did not disclose the amount of loans written off, but observers said it may not be much, as Zimbabwe increased its Chinese debt for infrastructure projects after the end of Mr Mugabe’s nearly four-decade rule.

Military coupZimbabwe’s founding leader was replaced by President Emmerson Mnangagwa following a military coup in 2017.

President Mnangagwa’s government has continued to borrow heavily from China, but Mr Zhou said it was not true that Zimbabwe was now in a death trap because of excessive Chinese loans.

Read: Zimbabwe chokes under weight of $13bn China loans“According to the data released by the Zimbabwean government, Zimbabwe’s debt owed to Western countries and international financial institutions accounts for 70 per cent of its external debt, while the debt owed to China only accounts for 15 per cent,” he said.

In August 2022, China announced that it would provide 23 interest-free loans to 17 unnamed African countries, a move analysts said at the time was designed to counter accusations that Beijing was engaging in “debt-trap diplomacy”.

Political leverageCritics accuse China of deliberately lending to countries it knows cannot repay to increase its political leverage as it seeks to counter US influence in Africa.

China vehemently denies the accusations, saying its relations with African countries are based on its policy of non-interference in other countries’ affairs.

In its latest debt analysis, the Zimbabwe Coalition on Debt and Development (Zimcodd) said loan defaults during Mr Mugabe’s era and the country’s long-running economic problems had left Zimbabwe in a debt overhang.“The debt default of the early 200s, coupled with a shrinking economy, has attracted prohibitive penalties and subdued the capacity to service debts, thus trapping Zimbabwe in a debt overhang position,” Zimcodd said.“Also due to these high debt arrears, access to concessionary loan finance has been blocked.“As such, predatory creditors are taking advantage of Zimbabwe’s debt crisis by fuelling debt expansion –mortgaging natural resources and mineral revenues.”Read: Zimbabwe labour unions accuse Chinese firms of violations$400 million loanLast year, Zimbabwe secured a $400 million loan from Afreximbank for budget support and financing of trade-related infrastructure, which it will repay by using 38 per cent of the export earnings of the country’s largest platinum miner.

The previous year, the government announced that the country had borrowed $200 million from China, securing the loan with 26 million ounces of platinum reserves.

Zimcodd said Zimbabwe was at risk of falling into a permanent debt overhang “given complex global challenges such as climate change and deteriorating global geopolitics”.“If left unresolved, the debt crisis will permanently trap Zimbabwe into a vicious debt trap of continuous borrowing, accumulation of arrears and subsequent defaults,” the organisation added.“The sustenance of high indebtedness constrains development through limited access to concessionary funding, currency devaluations, rising cost of money and sluggish economic growth.“So, Zimbabwe faces an impossible choice between serving its people or serving mounting debts.”China loaned Zimbabwe billions of dollars to upgrade two of its main international airports and to expand its two main thermal and hydroelectric power stations. 

This adjustment comes against a backdrop of relative stability

After a brief upward trend spanning two months, the headline inflation rate in South Africa showed signs of moderation, declining from 5.6% in February to 5.3% in March. This adjustment comes against a backdrop of relative stability, with inflation rates consistently hovering between 5% and 6% since September 2023.

Notably, the monthly change in the Consumer Price Index (CPI) for March 2024 registered at 0.8%, marking a decrease from the 1.0% uptick observed in February 2024. These shifts underscore the nuanced dynamics shaping the country’s inflationary landscape.

The categories with the highest annual price changes in March were:

– Miscellaneous goods & services (up 8.5%), education (up 6.3%), health (up 6.0%) and housing & utilities (up 5.9%).

– Education fees are surveyed once a year on 1 March. Overall, education was 6.3% more expensive in 2024 than it was in 2023. This exceeds the 5.7% annual increase in 2023 and is the highest since 2020 when the rate was 6.4%.

– High schools recorded the most significant increase in 2024 (up 7.3%), followed by primary schools and tertiary institutions (both up by 5.9%).

– Crèches and university boarding were also surveyed in March. Crèches increased their fees by 6.0%. University boarding is on average 8.2% more expensive than a year ago.

The increase in miscellaneous goods & services was mainly driven by higher health insurance premiums, recorded by Stats SA in February. As reported in last month’s review, the average price of health insurance increased by 12.9% in 2024.

The 6.0% annual rise in the health index was driven by increased prices of medical products and medical services.

Food inflation at a three-and-a-half-year low

Inflation for food and non-alcoholic beverages (NAB) slowed to 5.1% in March from 6.1% in February. This is down from its recent peak of 14.0% in March 2023, and is the lowest annual increase since September 2020 when the rate was 3.8%.

Bread & cereals registered a softer annual print of 5% from February’s 6.1%. The rate is substantially lower than the recent high of 21.8% in January 2023. Bread flour, pasta, rusks, maize meal, ready-mix flour and white bread are less expensive than a year ago.

Meat inflation also cooled in March on the back of lower beef and mutton prices. The annual rate for meat in March was 0.8%, significantly lower than the recent peak of 11.4% in February 2023.

Annual inflation for sugar, sweets & desserts has remained above the 15% level since June 2023.

The rate in March 2024 was 17.8%. Products with the most significant annual price increases include brown sugar (up 22%), white sugar (up 20.1%), chocolate slabs (up 17.9%) and chocolate bars (up 15.9%).

Other notable price changes in March

Additional significant price fluctuations observed in March were:

– Inflation for alcohol & tobacco was fuelled by annual increases in excise taxes. The index increased by a monthly 1.9% in March. This is the highest monthly rise since March last year, when excise-tax increases led to a 2.2% monthly rise.

– Prices increased by 4.5% overall in the 12 months to March.

– Housing rents were surveyed in March, rising by 0.8%.

– The transport index rose by 2% between February and March, mainly due to a monthly rise of 5.3% in fuel prices. On average, petrol increased by 5.2% and diesel by 5.3%.

Consumers apathy due to bad experience they have had in the past is affecting policy renewals

The regulatory body for insurance in Nigeria has acknowledged Artificial Intelligence (AI) as being key to the future of insurance business in the country.

The Commissioner for Insurance/CEO, National Insurance Commission (NAICOM), Mr Sunday Olorundare Thomas, stated this in a keynote address at the eighth national conference of BusinessToday, held in Lagos, with the theme, ‘The World of AI: How Insurance and Pension Sectors Can Explore Opportunities for Market Penetration.’

Thomas urged insurance operators to increase adoption of AI as it offers better productivity and enhance profitability, while ensuring quick service delivery and claims payment to insurance consumers.

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Represented at the conference by the Deputy Director, Lagos Office of NAICOM, Ajibola Olabisi Bankole, Thomas pointed out that technology adoption is part of the 10-year roadmap of the insurance industry.

Thomas added that NAICOM, as a regulator, will continue to evolve policies that will engender the growth of the industry, increase penetration and contribution to nation’s Gross Domestic Product (GDP).

President, Chartered Insurance Institute of Nigeria (CIIN), Mr Edwin Igbiti, in his goodwill message, said growing insurance industry will require the nation’s economy to be de-risked, while seeking partnership with government and other stakeholders to deepen insurance penetration.

Igbiti informed that AI will enhance the growth of insurance premium, service delivery and enable the insurance sector to contribute more to the country’s GDP.

The chairman of NEM Insurance Plc, Mr Tope Smart, who chaired the conference, expressed concern over the level of insurance penetration in Nigeria when benchmarked with the global standards and blamed it on many factors.

According to him, although the industry is working assiduously to partner agencies responsible for enforcement so as to increase insurance adoption, the lack of, or low enforcement is affecting the adoption of compulsory insurances.

Smart said: “It is quite saddening that out of a population of 200 million, only about three million people are actually insured. Lack of enforcement is a challenge but the industry is working round the clock to increase enforcement through the regulatory and enforcement bodies.

“Consumers apathy due to bad experience they have had in the past is affecting policy renewals but I can assure Nigerians that there are various complaint avenues for people to lodge complaints. If your legitimate claims are not settled, you can approach Nigerian Insurers Association (NIA) and NAICOM and if your complaints are genuine, they will be definitely resolved,”

The Managing Editor of BusinessToday Communication Limited, Mrs Nkechi Naeche-Esezobor, while welcoming the guests, said that the theme of the conference provided ample opportunity to deliberate and fashion out strategies that both the insurance and pension sectors can deploy to enhance consumer value, service delivery and further deepen market penetration.

She noted that the Nigeria’s insurance industry reached N1 trillion premium income target last year, which is a milestone that could rise faster with the right technology, including AI.

Naeche-Esezobor said, “AI is transforming insurance industry, especially in underwriting, customer support, advertising, claims and fraud prevention.” According to her, in pension industry, just by simply automating various aspects of pension management from data analysis to investment decision-making, AI minimises the need for extensive human intervention, adding that savings can be passed to pension holders to enhance their overall returns.

This year’s business environment is expected to improve somewhat, unlike the previous two years

The monthly BankservAfrica Take-home Pay Index (BTPI) experienced another positive month in February amid the better-performing environment, resulting in companies increasing their employees’ average salaries over the last three months.
“The average nominal take-home pay reached R16,085, which was 4.6% growth on a year-ago and also 2.5% up on January’s R15,692,” says Shergeran Naidoo, BankservAfrica’s head of stakeholder engagements.

“In real-terms, the monthly take-home pay tracked higher at R14,354 in February 2024, slightly below year-on-year levels.”

This year’s business environment is expected to improve somewhat, unlike the previous two years where persisting economic challenges significantly impacted companies and their ability to pay inflation-related increases.

“While it is still early days, the BankservAfrica data signals 2024 could be a better year for salaries,” says Elize Kruger, independent economist.

Furthermore, although mediocre economic growth is forecast for 2024, the economy is expected to perform somewhat better than the 0.6% reflected in 2023. This is, however, dependent on reduced load shedding, a moderation in average inflation and interest rate cuts.

Salary growth forecasts

A comparison of the average nominal BTPI for the three months to February 2024, to the corresponding three months one year earlier, reveals a 6.4% increase, according to Kruger.

This is broadly in line with the South African Reserve Bank’s (Sarb) forecast of an average salary increase of 6.1% for 2024.

The figure also aligns with the results of a recent pay poll by Andrew Levy & Associates, indicating the majority of companies (58%) anticipate their average increase in respect of salaried staff to be in the region of 5% to 6.9%.

Headline CPI moderated notably from 6.9% in January 2023 to 5.3% one year later and is forecast to average around 5.3% in 2024 compared to 6.0% and 6.9% in 2023 and 2022, respectively.

“With a forecast average salary increase of about 6%, 2024 could be a year of positive real increases in average salaries again, which will see the purchasing power of salary earners improve somewhat compared to the previous two years,” says Kruger.

Factors affecting household finances

Additionally, a lower inflation rate combined with some relief forecast for interest rates could provide much-needed support to households in terms of their spending ability and confidence levels. This will likely only be evident in the second half of this year.

The repo rate is likely to remain unchanged at next week’s Monetary Policy Committee meeting as sticky headline inflation, the weakness in the rand exchange rate and concerns about food prices could keep the Sarb from providing early relief.

The BankservAfrica Private Pensions Index (BPPI) increased in nominal and real terms in February 2024, remaining comfortably above year-ago levels.

“The average nominal private pension increased to R10,774 in February 2024 compared to the previous month’s R10,653, which was 7.1% higher than a year earlier,” says Naidoo.

Similarly, in real terms, the average BankservAfrica BPPI increased by 1.3% in February 2024 compared to a year earlier, beating inflation again.

The Shoprite Group and Demica enable growth of 82 African suppliers with CredX supply chain finance program

In a collaborative effort to bolster the growth of African small and medium-sized enterprises (SMEs), the Shoprite Group, Africa’s largest supermarket retailer, and Demica, a leading supply chain finance solutions provider, joined forces at the end of 2022 to provide accessible and affordable funding opportunities.

Over the past year, this partnership has already benefitted 82 suppliers, including Classic Food Brands, Rieses Food Imports, Pretty Bright Girls, and Mighty Meats, offering them a financial tool to not only survive but also accelerate their businesses.

A little over a year ago, Demica collaborated with the Shoprite Group to introduce the technology-led CredX supply chain finance program. Recognising that the sustainability of South Africa’s future hinges on the success of SMEs, the Shoprite Group identified cash flow as the lifeblood of its suppliers.

By leveraging Demica’s platform technology, CredX aids SMEs with easy-to-access cash flow, particularly those who might otherwise have limited access to affordable funding in South Africa.

Prior to the introduction of the CredX program, many of these suppliers faced challenges accessing cost-effective capital, which not only hindered their growth and investments but also posed challenges for the post-pandemic economic recovery.

Ashley Fuller, Business Owner of Profile Concepts, one of the suppliers to Shoprite Group using CredX emphasised the critical role played by this partnership during challenging times: “Covid-19 placed a severe strain on our cash flow, with the service CredX and Demica offers, we have been able to achieve the desired cash flow level to continue trading.”

Gerrit Kraaij, Accounts Manager at Full Basket, another business benefiting from CredX, highlighted the transformative impact of the program: “The product has made a significant difference in our SME’s cash flow and has allowed us the opportunity to grow by ± 50%. It took our business to the next level and gave us the opportunity to launch new products.”

The platform also helps suppliers overcome the peaks and troughs of seasonal cashflow often typical of food production. Willie Pieterse, Managing Director at Berkeley Foods elaborates: “By making use of the platform, our cash flow has seen an increase during winter. It would not have been a pleasant winter, if we had not explored this opportunity.”

The success of the CredX program can be attributed, in part, to its user-friendly platform, which enables suppliers to be onboarded and accessing cash within 24 hours without any additional KYC requirements being performed. The Demica Supplier Onboarding Tool offers a quick and intuitive registration process, automating supplier enrolment for Shoprite while enabling suppliers to efficiently navigate the economic landscape.

The platform’s robust analytics engine provides transparent, real-time reporting and transaction visibility, empowering suppliers to make data-driven decisions swiftly. Demica and the Shoprite Group remain committed to expanding the CredX service to more suppliers, further supporting SME development across Africa.

“Demica’s mission has always been to enable more businesses to provide and access supply chain finance, and our partnership with the Shoprite Group exemplifies our commitment to this cause. Witnessing the transformation and resilience of these African entrepreneurs as they navigate challenges and achieve growth is truly inspiring. We are proud to provide the tools and support that enable them to write their own success stories”. Comments Johannes Wehrmann, Manging Director, Corporate Solutions at Demica.

“At Shoprite, we’ve always believed in the potential of local businesses to drive economic growth and bring positive change to communities.” Explains Dolf Boshoff, Head of Credit Risk and Governance at Shoprite Group. “Our collaboration with Demica is not just about business; it’s about fostering a stronger, more inclusive future for South Africa and the broader African region. It’s heartening to see the impact on our suppliers, their growth, and the opportunities they’re creating. This is the spirit of partnership that keeps us moving forward.”

With a legacy dating back to 1979, the Shoprite Group has garnered over 40 years of experience in leading food retailing across Africa. The company boasts a vast network, comprising more than 2,791 corporate stores, 535 franchise outlets, and a dedicated workforce of over 153,000 employees. In addition to its core grocery business, the Shoprite Group encompasses various sectors, including furniture, pharmaceuticals, hospitality, ticketing, digital commerce, and financial and cellular services. This conglomerate stands as Africa’s largest fast-moving consumer goods retailer.

The innovation management system of the Federal Tax Authority (FTA) has earned a new international accreditation, in recognition of it implementing  global best practices and standards that enhance the effectiveness and efficiency of innovation management.

The Authority has been awarded the ISO 56002:2019 certificate, confirming its success in implementing the international standard for innovation management. This achievement coincides with the FTA’s participation in the monthlong UAE Innovates 2024 initiative.

The certification was granted after experts from the certifying body audited the FTA’s system and verified the accuracy of all related procedures. The Authority passed the audits successfully, confirming that its system provides an effective framework for driving innovation. The certificate also demonstrates that the FTA’s performance ratings in terms of innovation have notably improved, ensuring the Authority’s continued support for regulatory reform programmes.

His Excellency Khalid Ali Al Bustani, Director General of the FTA, said: “The ISO certification for the innovation management system provides an added layer of assurance to the Federal Tax Authority’s systems, particularly in relation to the innovation environment and its growth. This also demonstrates the Authority’s commitment to establishing an institutional environment that fosters creativity and innovation, and prioritises the development of skills and talents of innovation management employees.”

“The objective is to encourage the generation of innovative and effective solutions to the challenges and opportunities, while employing innovative tactics to achieve sustainable financial diversification for the UAE for generations to come,” H.E. Al Bustani added. “The FTA strives to continuously improve and streamline procedures, provide high-quality services, and facilitate self-compliance.”

For his part, Jassim Al-Haddad, Head of the FTA’s Innovation Team, said: “Earning this international certificate in the field of institutional innovation is a testament to the Federal Tax Authority’s exceptional structure in the innovation sector, which adheres to the best practices in the field. Implementing the ISO 56002:2019 international standard further confirms that the Authority has successfully developed, implemented, and maintained a secure and effective system for managing innovation, in an effort to enhance its operations and continuously improve the system. This, in turn, helps in creating novel solutions to meet the needs of customers and stakeholders in the tax sector.”

The Federal Tax Authority has been consistently working to adopt international standards for its systems and processes, which includes the ISO 56002:2019 certificate for innovation management, as well as several other international accreditation certificates. The Authority has renewed its accreditation for the international standard for business continuity management system (BCMS) and disaster recovery with an ISO 22301 certification, in addition to earning the ISO 20000 and ISO 27001 accreditation certificates for information technology services management system, and the information security management system.

These efforts form part of the Authority’s comprehensive quality system, which was previously certified with the ISO 9001:2015 Quality Management System certificate. The purpose of this system is to enhance the performance of the FTA’s business processes in all areas, ensuring compliance with the requirements of an effective quality management system and a continuous commitment to it in all services provided by the Authority.

Specialising in providing bespoke solutions and strategic investment services to a wide range of clients, Ethra Invest is a distinguished investment and private equity firm that has redefined excellence within the Middle East. At the heart of this immense success is its CEO, Saeed Al-Marri. With growth marked by a series of strategic roles and progressive responsibilities across the market, Saeed Al-Marri has established a well-deserved synonymity with industry fineness. Let us take you through his journey, and how his vision for the sector’s future has helped to elevate Ethra Invest to all new heights.

Designed to bring new solutions to the shipping, real estate, and structured funds sector, Ethra Invest is a firm that continuously leverages its in-depth market knowledge to capitalise on lucrative investment opportunities. Delivered by a team of seasoned professionals, these solutions reflect the firm’s overwhelming commitment to meticulous, research-driven investment approaches – ones that unite diligence and forward-thinking to pave the way for a far more versatile method of operation. As a result, Ethra Invest holds the ability to navigate an ever-changing landscape to great effect, earning quite the track record throughout the industry.

Whether it’s delivering consistent returns or mitigating risks, the firm has long since earned itself a reputation as one of the Middle East’s most trusted investment and private equity firms. Among its client base is a variety of entities – from high-net-worth individuals and family offices, to institutional investors and corporations. Regardless, Ethra Invest priorities tailored solutions, the likes of which only made possible due to the guidance of CEO Saeed Al-Marri. Leveraging his wealth of experience in a multitude of fields – such as fund management, financial analysis, portfolio management, and deal structuring – Saeed’s role is by far the most prominent when it comes to Ethra Invest’s promises to its clients.

This promise is, of course, that each client will receive incomparable levels of empowerment from Ethra Invest during their collaboration. Saeed has constructed the foundations of a brilliant firm, and oversees all of its pursuits in order to ensure each client achieves their financial goals. This is often time realised through a myriad of innovative and sustainable investment strategies that have been built to last – ones that stand as a testament to the hard work and experience that Saeed has put into Ethra Invest. Thanks to his unique industry insight, it’s effortlessly found itself a place at the forefront of industry advancements, which has ultimately led to its clients benefitting from cutting-edge opportunities.

Ethra Invest is a firm that embodies Saeed’s vision: “To be recognised as the premier investment and private equity firm in the Middle East, synonymous with integrity, excellence, and value creation.”. And yet, to truly understand how Saeed was able to even begin this journey in the first place, we must first look at the previous roles that have helped to characterize the type of CEO he is today. Initially commencing his career in banking and investment, Saeed actively went above and beyond to refine his skills in an array of fields. Over those years, his roles continued to advance until, eventually, he had his first experience with higher responsibilities.

This manifested through the launch of the first ever private equity managed fund in the Middle East’s shipping sector. As CEO of an investment company in the Middle East, Saeed pursued this very venture in the hopes of delivering unique opportunities to investors. These opportunities primarily consisted of direct exposure to bulk dry cargo vessels – a domain that, up until that point, had been predominantly reserved for ship owners and ultra-high-net-worth individuals. Having long since recognised the outcry for change within the shipping industry, Saeed quickly became the face of market evolution, with his initiative serving to bridge an age-old gap that had no longer had reason to exist.

Fundamentally, the concept focused on creating a private equity manage fund that allowed investors, regardless of investment amounts, to directly involve themselves in the inner workings of the shipping industry. Following its inception, this approach would come to embody the very definition of innovation, with its operations allowing investors to diversify their portfolios, whilst gaining access to areas in which they had never been permitted to have a part. As a culmination of the desire to inspire change, this venture bestowed an immense wealth of knowledge and industry capability upon Saeed, which he proceeded to take with him into his current role as CEO. With such a complex background in leadership and strategic planning, there truly is no man more equipped to navigate such a dynamic market.

Combining a deep understanding of the industry’s flow, risk management, and the nuances that partner cultivating success-driven investment strategies, Saeed has fashioned a leadership style that reflects each of his strengths in abundance. Ethra Invest is in the business of tailoring its solutions to meet even the most unique needs of its clients, but it must first gather plenty of information about just what a project requires in order to thrive. Saeed spearheads this process, guiding his team of exceptional professionals towards being able to offer a heightened level of service. Through analysing the proposed objectives, whilst taking into consideration both requirements and challenges, Ethra Invest demonstrates a prowess for understanding its clients inside out.

Ultimately, this involves engaging in in-depth consultations, all so Saeed’s team of specialists can identify the exact outline of a client’s vision, as well as their financial goals and unique circumstances. Once this thorough analysis has been completed, the team progresses to the solutions structuring stage. During this part of the process, Ethra Invest aligns its strategies with a client’s overarching goals, while maintaining an approach that’s specifically designed to achieve their desired outcome. Only possible through the confidence that Saeed has instilled into his team, in tandem with its exclusive talent, Ethra Invest promises a fully customised result via finely tuned strategies.

Acting as the cornerstone of the firm’s success, placing emphasis on achieving long-lasting, mutually respectful client relationships is essential. It’s what has granted both Saeed and his team the opportunity to continuously grow to further expand their reach. Tailored solutions are Ethra Invest’s priority, and yet there’s an unapologetic dedication to fostering timeless bonds that brightly shines throughout the company’s practises. Partnered with an immense drive to consistently exceed expectations, Saeed has elevated Ethra Invest to the point where it has come to represent the new standards of the industry.

However, in order for a collective to continuously thrive, it must frequently recognise every individual who has helped to uplift it. Saeed is a firm believer in this notion, and expresses how, despite his own expertise playing an integral role in Ethra Invest’s success, it wouldn’t have gained even half of the acclaim that it faces today if not for its team. We believe Saeed puts it best – “The success of Ethra Invest is a collective effort. I would like to highlight the exceptional contributions of our dedicated team. Their commitment, expertise, and collaborative spirit are instrumental in realizing our strategic vision and achieving the milestones that have led to the Middle East CEO of the Year Awards.”

Saeed isn’t only devoted to his team and clients, however. Quite the opposite – with enough room in his heart to consider the impact that his company has on surrounding communities, Saeed goes above and beyond to commit himself to corporate social responsibility. By ensuring that Ethra Invest actively engages in initiatives that are designed to uplift the wellbeing of the communities within which the company operates, Saeed displays an immense amount of empathy. Regardless of whether this manifests through the company’s environmental awareness, or through its dedication to social welfare and ethical business practises, keeping Ethra Invest aligned with the best interests of the local community is vital to Saeed.

Values are exceedingly important to Saeed, and it’s clear that he’s fully focused on ensuring that these values are reflected throughout every aspect of Ethra Invest. Not only has he frequently defied the expectations of a typical CEO through the perfectly tailored services that his collective offers; by remaining mindful of the world around him, Saeed has painted a comprehensive picture of exactly what the company stands for. Ethra Invest is a manifestation of Saeed’s passion for providing constant forward momentum for his clients, but his attitude truly shines through his steadfast principles. The result is a company that actively seeks out innovation and adaptation, all to be the best version of itself for the world surrounding it.

Having spent many years investing in his own personal growth, Saeed has placed himself in the ideal position to pursue endless innovation. In doing so, he has secured a wealth of benefits for Ethra Invest – ones that directly derive from having a leader who is thoroughly equipped with all of the necessary tools to navigate challenges and capitalise on opportunities within the industry. Upholding continuous development is key to this process; it’s what has assisted Saeed in renewing the excellence that Ethra Invest captures, assuring clients that they’re in the best possible hands when working alongside the firm’s team. In essence, Saeed’s commitment to career development, aligned with his love for learning, has helped to forge a timeless collective whose invaluable nature will never dwindle.

Nobody ever stops learning, and Saeed is the model example of this notion. He holds a brilliant passion for lifelong learning that translates through both Ethra Invest’s services and solutions, as well as though the team he surrounds himself with. Be it educating himself on the newest emerging technologies, or updating his industry insight to devise new strategies for clients, there isn’t anything that Saeed isn’t willing to do in order to invite success into both his and his customers’ collectives. In short, Saeed demonstrates an unparalleled love for his field, and he’s certain that it’s this very passion that has played a large part in Ethra Invest’s growth throughout the years. Partnered with the brilliance of his team, Saeed is constantly raising the bar in one of the world’s most dynamic industries.

In this vein, it’s important to mention Ethra Invest’s unshakable determination to set its sights on the future. Saeed has always been an expert of seeing the bigger picture, and places focus on, not only working on present successes, but also proactively leveraging his long-term vision for what Ethra Invest could become. Committed to building a legacy of excellence, integrity, and sustainable growth, Saeed is constantly moving Ethra Invest towards a future that’s simply filled with evolution, while delivering meaningful contributions towards the investment and private equity sector. After all, with the accomplishments that the company has seen over the years, it’s only natural to expect that the blueprint Saeed has created will continue to be followed for years to come.

It isn’t often that you come across a man who has the ability to reshape an entire industry’s idea of what excellence should be. However, Saeed Al-Marri, with Ethra Invest as a catalyst, has completely redefined what clients should expect from an investment and private equity company. Saeed has successfully created a new face for the market, and it’s this very achievement that has continuously justified his position as an award-winning CEO. Ethra Invest is such an ambitious collective, and we simply can’t wait to see where its eye for innovation and longevity takes it as CEO Saeed Al-Marri guides it into 2024.

For further information, please visit https://ethrainvest.com/