Developing a Global Network for Women in Business
There is no question that women in the Middle East and North Africa (MENA) are capable of matching the achievements of their male counterparts in business. There is not only ample statistical evidence showing that women are exceeding men at university level, but there are also plenty of role models to show that they go on to forge successful careers in all sectors, and are playing an increasingly important role in business and society.
Significant role models include the UAE’s Foreign Trade Minister Sheikha Lubna al-Qasimi, who, despite her royal status, began as a junior employee at a software company; Qatar’s Sheikha Hanadi Nasser Bint Khaled al-Thani, founder of the Qatar Ladies Investment Company; Kuwait’s Maha al-Ghuneim, chairwoman of Global Investment House; Rola Dashti, the first chairwoman of the influential Kuwait Economic Society; Sheikha al-Bahar, head of corporate banking at National Bank of Kuwait; Saudi Arabia’s Lubna al-Olayan, chief executive of Olayan Financing Company; Egypt’s Fatma Lotfy, deputy chairwoman of Bank of Alexandria and many others.
As a recent World Bank report points out, governments throughout the region are increasingly encouraging women to play a fuller role in the economy and society, and recognising the potential of women’s entrepreneurship in diversifying economies and creating jobs. Improved investment climates are resulting in increased opportunities for businesswomen. However, despite the increase in educational attainment, female participation in the labour force is relatively low, and proportionally fewer businesses are owned by women than in other parts of the world. In Saudi Arabia, for example, women make up 58 per cent of the total student population, but only 16 per cent of the workforce. Factors behind this include differential treatment under the law, social attitudes and practical obstacles. Some private sector companies still question whether women are working as part of a long-term career path or only in between marriage and having children. The World Bank’s MENA region senior adviser, Nadereh Chamlou says: “A woman may have two or three children in her lifetime but she has 30-35 working years. The full talent pool is not being tapped.”
One way of moving forwards with female empowerment is to develop what Baroness Haleh Afshar, professor of politics and women’s studies at York University, calls the network of “global sisterhood”. By forging stronger ties between Arab female business leaders in the MENA region, and their counterparts in the UK and elsewhere, a global support network will be developed, helping to produce new ideas and partnerships.
Promoting an international network
It is exactly this that the new partnership between the Middle East Association (MEA) and Women in Business International (WIB) hopes to achieve. WIB’s founder, Ahmed Suleiman says: “When Women in Business started, 12 years ago, it was difficult for British businesswomen to do business in the Middle East.” The new initiative is working to break down cultural barriers, promote links between UK and Middle Eastern business executives, provide opportunities for the sharing of expertise and views, bring more women into the MEA network, and encourage more women to do business in the Middle East.
The London-based Europe Arab Bank is sponsoring the year’s activities, which include the annual Women in Business International Forum in London in May, training on issues such as public relations and sales techniques, networking briefings and receptions, and trade missions. Antoine Sreih, CEO of Europe Arab Bank, stated: “We are delighted to be sponsoring this initiative. As a company, we are proud of our diversity and united by our culture; it is exciting to be at the forefront of any activity that promotes the exchange of knowledge and skills between businesswomen from the UK and the Middle East.”
Another way of encouraging British businesswomen to trade with the Middle East has been the creation of a Women in Business Achievement Award to celebrate the successes women have had in competing in Middle East and international markets as exporters of goods and services. Women in Business International, which announces the winner of the award at its annual May conference in London, says: “By their example of success and perseverance, these women are role models acting as inspiration to the wider business community.” The award is made in association with UK Trade and Investment and the British Exporters Association. For the first time this year, the award will also be extended to international businesswomen.
Family, too
Also in this year’s calendar of events is a conference in Bahrain on family businesses, looking at how the family succession route affects businesses and how women may be affected in the family.
WIB is also looking to run a business programme in Palestine where it wants to nurture the next generation of businesswomen to create sustainable businesses. The programme will involve Palestinian women being mentored by international business executives. This initiative may also be extended to Kazakhstan, Azerbaijan, India and China.
Nadine Marroushi
Global Arab Network
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Arab women are emerging as role models in the Middle East and North Africa region and the West. The year ahead will be about forging stronger ties between businesswomen across continents, writes Nadine Marroushi.