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Business set-up Package dedicated to Women

Business set-up Package dedicated to Women

Ras Al Khaimah Economic Zone (RAKEZ) has today launched its BusinessWomen Package, a ‘first-of-its-kind’ product in the United Arab Emirates (UAE) designed exclusively for women who are passionate about business.

Business set-up Package dedicated to Women
Business set-up Package dedicated to Women

The UAE’s first-ever business set-up package dedicated to women unveiled by RAKEZ

The package is offered at a pocket-friendly rate starting from AED 6,200 with instalment plan options, a free zone licence, a shared workstation and various support services in a one-stop shop.

Businesswomen who want to set up their company with the economic zone can either select the 1-Year or 3-Year Package. Both packages come with value-added services such as free usage of RAKEZ shared workstations, free printing of business cards, priority tokens at RAKEZ Service Centres and eligibility for a UAE Residence Visa(s). The 3-Year Package has an added benefit of one free investor visa, which is equivalent to AED 3,950. 

In addition, the newly-launched package gives businesswomen eight free zone licence types to choose from: Commercial, Educational, E-Commerce, General Trading, Individual/Professional, Media, Service and Freelancer Permit.

The UAE’s first-ever business set-up package dedicated to women unveiled by RAKEZ
The UAE’s first-ever business set-up package dedicated to women unveiled by RAKEZ

Commenting on the introduction of the new package, Ramy Jallad, Group CEO of RAKEZ, said: “We are very proud to launch the RAKEZ BusinessWomen Package, which is a clear testament to our commitment of encouraging more women to achieve their entrepreneurial dreams. In the past, we have conducted events exclusively for women, such as networking sessions. We have used these events as platforms to get to know what challenges they are facing and what can we do to support them. Then, here we are, we have introduced an entire package that has all the elements to help them become the successful businesswomen that they are meant to be. It comes with a selection of cost-effective office spaces, licences, as well as support services. All they have to do is pick the solutions that suit their needs and they are good to go.”

“This is just the tip of the iceberg,” Mr Jallad added. “Watch out as we are going to work on more initiatives to inspire women to be in business.”

According to the World Economic Forum’s 2018 Global Gender Gap Report, there is a 40% gender gap in the Middle East and North Africa in various areas of the society, including business. Closing this gap by promoting female entrepreneurship can help the region achieve a more sustainable and inclusive economic growth path.

For information about RAKEZ BusinessWomen Package, please visit www.rakez.com/promotions/businesswomen.

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Invigorating Female Entrepreneurship in Egypt’s Ecosystem

Invigorating Female Entrepreneurship in Egypt’s Ecosystem

For purposes of mainly Invigorating Female Entrepreneurship in Egypt’s ecosystem, a “SHE CAN – 2019” organized by Entreprenelle, kickstarted by Rania Ayman in 2015 as an organization eventing conferences as a mean to empower and motivate women so as help them believe in their ability to change their destiny.

SHE CAN – 2018 was elaborated on by Women of Egypt Mag (picture above) and here is 2019’s as covered by Entrepreneur of today.

The conference held a wide range of panel discussions, talks and workshops on innovative thinking, creativity, technology, raising capital and invigorating female entrepreneurship in the ecosystem.

Egypt’s SHE CAN 2019 Focuses On Failures As Stepping Stones To Success

By Entrepreneur Middle East Staff, Entrepreneur Staff, April 1, 2019.

Entrepreneur Middle East Staff

You’re reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

Egypt's SHE CAN 2019 Focuses On Failures As Stepping Stones To Success

SHE CAN 2019, a conference dedicated to MENA women entrepreneurs, hosted its third annual edition at the Greek campus, Downtown Cairo, Egypt, with the theme ‘Successful Failures’. Launched by Entreprenelle, an Egypt-based social enterprise which aims to economically empower women through awareness, education and access to resources, the conference held a wide range of panel discussions, talks and workshops on innovative thinking, creativity, technology, raising capital and invigorating female entrepreneurship in the ecosystem.

Gathering more than 5,000 participants and 50 partners, including UN Women, the Swedish Embassy, the National Council for Women, Nahdet Masr, Avon, Orange and Export Development Bank of Egypt, it also highlighted the endeavors of Entrepenelle alumni. It was also an opportunity for aspiring entrepreneurs to learn from sessions featuring tips on pitching business ideas, mentorship, as well as startup competitions. Female-founded startups were also able to showcase their products and services in an exhibition area.

Speaking about the conference focusing on the necessity to experience failure on one’s entrepreneurial path, Dorothy Shea, Deputy Ambassador of the US Embassy in Cairo, commented, “As far as I’m concerenced, the sky is the limit. Women should be able to achieve whatever their dreams are. What I was struck by was this idea of “successful failures,” we need to not fear failure, it’s not a destination, it is a stepping stone to success. Sometimes there can be a fear of failure, but as part of this entrepreneurship ecosystem, they are really trying to move that inhibition away. We learn from our failures and then we take our plans to the next level. I was really inspired by this theme.”

Founded in 2015, Entreprenelle has more than 10 entrepreneurship programs conducted in nine governorates, including Cairo, Alexandria, Mansoura, Minya, Assiut, Sohag and Aswan.

Related: Embracing Failure: Lessons From History’s Most Successful Entrepreneurs

More from Entrepreneur : Next Article

World Water Day in the MENA region’s commemoration

World Water Day in the MENA region’s commemoration

World Water Day is every year on March 22nd and is the day to bring light on the fact that right now, more than 844 million people don’t have access to clean Water and sanitation.

For last year’s World Water Day in the MENA region’s commemoration, Sopho Kharazi wrote in his Water Stress Poses Greatest Threat to MENA Region.

The most water-scarce region in the world is the Middle East and North Africa (MENA) where more than 60% of the population has little or no access to drinkable water and over 70% of the region’s GDP is exposed to high or very high water stress.

Water scarcity in MENA involves multiple factors such as climate change leading to droughts and floods, low water quality, and poor water management in the context of fragility, conflict, and violence. This is one of the reasons why at the World Economic Forum 2015, experts on the MENA region stated that the water crisis is “the greatest threat to the region—greater even than political instability or unemployment”.

Poor water quality in the region is caused by unsustainable water consumption, pollution and untreated wastewater. The cost of these in the region represents 0.5-2.5% of the GDP annually. This causes multiple problems, ranging from waterborne diseases to the pollution of fresh water necessary for ecosystem services such as fisheries. For this reason, according to the International Union for Conservation of Nature, 17% of freshwater species in the region are on the brink of extinction.

Meanwhile, life carrying on, here is a story that happen to be part of everyday life in a country that had only a few weeks ago, very unusual heavy precipitations followed by heavy floods.

Jordan’s female plumbers

Mar 18, 2019

Safaa is one of Jordan’s few female plumbers. She runs her own company in Irbid, and together with her team of around 20 female plumbers, Safaa tries to raise awareness among her customers on the importance of preserving water in a water-scarce country like Jordan

While Jordan only has a small number of female plumbers, Safaa says demand for women in this profession is growing. “Having female plumbers has solved a big problem,” she said. “Women can now have repairs done in their homes at any time.”

Safaa also conducts her own training sessions for women in her field of profession. She recently jointed an International Labour Organization (ILO) Training of Trainers (ToT) programme to help her build better skills in coaching. The ToT programme provides participants with adequate learning methods, techniques and approaches that are needed to enable them to better transfer knowledge to other learners and apprentices.

UAE tops MENA for wage equality, but . . .

UAE tops MENA for wage equality, but . . .

GULF BUSINESS Economy posted this enlightening article by Aarti Nagraj on how It will take the MENA economies “153 years to close the gender gap at the current rate of change”

UAE tops MENA for wage equality, Arab region remains world’s least gender-equal

The UAE has been ranked as the top country in the Middle East and North Africa for wage equality, according to a new report released by the World Economic Forum (WEF).

However, the UAE’s performance on the WEF’s Global Gender Gap Report 2018’s wage equality indicator saw a slight decrease compared to last year, a statement said.

The Emirates also topped the region in terms of the number of women in ministerial positions, with improvements recorded in gender parity in the legislators, senior officials and managers and healthy life expectancy indicators.

Overall, the report found that despite the gender gap across the MENA region closing narrowly in 2018, it remains the world’s least gender-equal region.

It will take the Middle East and North Africa economies “153 years to close the gender gap at the current rate of change”, the report stated.

While Tunisia topped the region for gender equality – ranking 119 globally, the UAE ranked 121 with the gender gap closed at 64.2 per cent. Saudi Arabia, ranked 141 with a 59 per cent gender gap rate, showed “modest progress”, with improvement in wage equality and women’s labour force participation, the report stated.

Globally, the report found that the global gender gap only slightly reduced in 2018, as stagnation in the proportion of women in the workplace and women’s declining representation in politics, along with greater inequality in access to health and education, offset improvements in wage equality and the number of women in professional positions.

According to the report, the world has closed 68 per cent of its gender gap, as measured across four key pillars: economic opportunity; political empowerment; educational attainment; and health and survival.

Last year was the first since the report began publishing in 2006 that the gap between men and women widened.

At the current rate of change, the report indicated that it will take 108 years to close the overall gender gap and 202 years to bring about parity in the workplace.

Globally, having closed more than 85.8 per cent of its overall gender gap, Iceland topped the list for the 10th consecutive year. It was followed by Norway, Sweden, Finland and Nicaragua.

“The economies that will succeed in the Fourth Industrial Revolution will be those that are best able to harness all their available talent,” said Klaus Schwab, founder and executive chairman of the WEF.

“Proactive measures that support gender parity and social inclusion and address historical imbalances are therefore essential for the health of the global economy as well as for the good of society as a whole.”

The report also found that while the income gap between men and women has become narrower, fewer women are participating in the workforce.

“This a worrisome development for which there are a number of potential reasons,” the report said.

“One is that automation is having a disproportionate impact on roles traditionally performed by women. At the same time, women are under-represented in growing areas of employment that require STEM (science, technology, engineering and mathematics) skills and knowledge. Another potential reason is that the infrastructure needed to help women enter or re-enter the workforce – such as childcare and eldercare – is under-developed and unpaid work remains primarily the responsibility of women,” the report explained.

“The corollary is that the substantial investments made by many economies to close the education gap are failing to generate optimal returns in the form of growth.”

According to Saadia Zahidi, head of the Centre for the New Economy and Society and member of the WEF managing board, industries must “proactively hardwire gender parity in the future of work through effective training, reskilling and upskilling interventions and tangible job transition pathways”.

“It’s in their long-term interest because diverse businesses perform better,” she added. e-height:norm

MENA personal care sector set for growth

MENA personal care sector set for growth

MENA personal care sector set for 8.5% growth: study

The beauty and personal care industry in the MENA region, valued at $15.9 billion, is set to grow twice as faster than the rest of the world with a compound annual growth rate (CAGR) of 8.5 per cent in the next three years, a report said.

Meanwhile the global industry, which is worth $444 billion, is estimated to grow at 4.2 per cent per annum, added the latest MENA Beauty Care Report from Dubai-based Millennial Capital, an emerging venture capital firm specialising in developing partnerships with global brands in the consumer, retail and wellness sector which target to enter or operate in the GCC market..

The report cited reasons of high spending per capita, affordable prices, strong consumer confidence, high literacy rates, young population with a high social media exposure and on top of that new entrants with the aim to fill the gap in the “masstige category”.

Among the key categories that contribute most of the beauty and personal care market size are skincare, haircare, colour cosmetics, fragrances and men’s grooming. Globally, the Skincare category dominates the market and as a brand, L’Oréal Group captures the largest market share. Contrary to global trends, fragrances is the most loved category in the Mena region. The same is evident from the fact that two local brands, Arabian Oud and Al Qurashi, control over 20 per cent of the market share due to their appeal to the local masses and cultural significance.

While Saudi Arabia retains the highest market share of 33.2 per cent in the MENA region, the UAE stands higher in terms of spending per capita at $239. Despite the fact that UAE constitutes only 2 per cent of the Mena population, the high spending per capita is a result of the strong consumer confidence, high literacy rates and predominantly young population with a high social media exposure.

There is great opportunity for new players with the right value proposition to step in and gain market share weighing on the gradually shifting consumer focus to quality products that not just pamper and protect, but also pay attention to cleaner and more organic ingredients, along with personalised offerings so that wider audiences can love and appreciate them just as much, according to the report.

All of this, with an affordable price point has enabled new entrants like O Boticário, KIKO Milano and Benefit Cosmetics to lure the millennial consumer away from luxury tags, it added.

“In the age of beauty ‘retailment’ with consumer preferences shifting from being product-based to experience-based, by having alchemy and innovation in its DNA, brands such as O Boticário bring to Dubai an unprecedented emphasis on quality and retail innovation, offering customers an experience complete with interactive shopping content, products that narrate stories combined with the latest retail technologies, such as the LED screens inside the store which enable customers to get to know the stories behind the products when they lift the product from its display,” said Andreea Danila, founder & managing director at Millennial Capital Ltd.

Millennial Capital joined hands with Brazil’s O Boticário Group to introduce the largest cosmetics franchised network in UAE with the opening of two flagship stores in Dubai Mall and Mirdif City Center. The brand received an overwhelming response since the opening of the store in Dubai and its preparing for Saudi Arabia regional market expansion.

“With 33 per cent of global consumers citing brand sustainability as a key deciding factor in their product choices according to Unilever, there is an untapped potential of $1.1 billion for cleaner and sustainable brands in the market,” said Kanchan Khemani, senior investment analyst at Millennial Capital.

“O Boticário has been a pioneer in the research on alternative methods of product testing such as 3D skin instead of animal testing. The brand invests 1 per cent of revenues in forest conservation, and have reduced their electricity consumption by 70 per cent, leading to a saving of 3,000 tonnes of CO2 annually.”

Internet penetration in the Middle East has outpaced the world average of 51.7 per cent, with the largest markets boasting over 90 per cent penetration; thereby having a tremendous influence on consumers aged 18-24. Being avid smartphone users, today’s millennial is more comfortable going to the e-tailer citing lower prices, personalised offerings, and flexible payment methods as factors driving their preference.

Despite the high Middle East social media usage at 38 per cent of total population and average internet penetration of 60 per cent, only 15 per cent of retailers in the Middle East maintain an online presence, hence losing out on the 56 per cent shoppers who purchase products online through their smartphones.

It is interesting to note that health and beauty sales contribute 48 per cent of the Middle East’s online sales, the report said.

TradeArabia News Service

 

Arab women outnumber men in pursuing university degrees, but . . .

Arab women outnumber men in pursuing university degrees, but . . .

This article was written by Kelly Ommundsen, Community Lead, Digital Economy and Society System Initiative, World Economic Forum and Khaled Kteily, Founder and CEO, Legacy posted on the World Economic Forum of July 21, 2018, does bring to the fore only what has been happening throughout the MENA region’s diverse youth. Urbanised as never before, these are in increasing numbers educated and open onto the world. And a fact that is more and more obvious on the ground is that Arab women outnumber men in pursuing university degrees, but . . . . how is this fact affecting the rest of the region’s populations?
The Brookings back in 2015 noted in its website that “Echoing the trend observed globally, women in the Arab world outnumber men in pursuing university degrees.” However, it added that “For Arab women, hard-won progress in education has not earned them the economic progress they deserve. Although young women seek and succeed in tertiary education at higher rates than young men, they are far less likely to enter and remain in the job market. Understanding and tackling the barriers that hinder women from working would unlock Arab women’s potential and yield significant social and economic benefits to every Arab State.”
It remains however that according to the World Bank, “Thirteen of the 15 countries with the lowest rates of women participating in their labour force are in the Middle East and North Africa (MENA), according to the 2015 Global Gender Gap Report (2015). Yemen has the lowest rate of working women of all, followed by Syria, Jordan, Iran, Morocco, Saudi Arabia, Algeria, Lebanon, Egypt, Oman, Tunisia, Mauritania, and Turkey.”
“So, why is women’s participation in the workforce so low in MENA, especially when the education rate is at parity for girls and boys, and especially when, often, the girls outperform the boys?”
Here is the WEF’s article that covers that segment of activities as helped today by all the ‘smart’ technological advances of recent years.

The picture above is of The Arab Weekly’s Greater opportunities but entrenched stereotypes for Arab women in data science captioned as Sunshine sector. Lina Daouk-Oyry, assistant professor of organisational behaviour at the American University of Beirut, moderates a panel. (The American University of Beirut Conference)


How women are transforming the Arab world’s start-up scene

Palestinian entrepreneur Samar Hijjo developed an app for women during pregnancy.
Image: REUTERS/Ibraheem Abu Mustafa

It may surprise some to learn that one in three start-ups in the Arab World is founded or led by women. That’s a higher percentage than in Silicon Valley. Women are becoming a force to be reckoned with on the start-up scene across the Middle East. Because the tech industry is still relatively new in the Arab world, there is no legacy of it being a male-dominated field. Many entrepreneurs from the region believe that technology is one of the few spaces where everything is viewed as possible, including breaking gender norms, making it a very attractive industry for women.
Despite many challenges, including societal pressure on women to stay at home, a digital gender gap, and structural disadvantages in fund-raising and investments, female entrepreneurs are finding new and creative ways to overcome barriers to entering the workforce and starting their own business.
Key to these efforts has been their ability to leverage the internet and engage through online platforms to reach new markets. They are able to work from home if they wish. As Saadia Zahidi argues in her book Fifty Million Rising, these digital platforms allow women to be unimpeded by cultural constraints or safety issues, and they lower the implicit and explicit transaction costs of transport, childcare, discrimination and social censure.
Finding how to tap into this valuable resource of highly educated women could be a game changer for the region. Given the market power of women’s increasing participation in the workforce, which by 2025 could add an estimated $2.7 trillion to the region’s economy, the growing trend of women in start-ups could be transformative for the Middle East.
Unlocking the potential of female start-ups
The rise of women in the Arab world starts early, with girls outperforming their male peers in school. In Jordan, girls do better than boys in school in nearly all subjects and at every age level, from grade school to university. When it comes to STEM subjects (which include skills critical to launching and running a start-up in the Fourth Industrial Revolution) several Arab countries are among the global leaders in terms of the proportion of female STEM graduates. According to UNESCO, 34-57% of STEM grads in Arab countries are women, which is much higher than in universities in the US or Europe.
Despite the fact that many Arab women are thriving in school and graduating with advanced degrees, this success has not necessarily translated to the job market or the start-up world. Many women are instead staying at home, whether from choice or because of cultural, social or familial pressures. In fact, 13 of the 15 countries with the lowest rate of female participation in the workforce are in the Arab world, according to the World Bank.
Restrictive laws in many countries across the region put women who wish to join or start their own businesses at a disadvantage. These include prohibitions against women opening up a bank account or owning property, limited freedom of movement without a male guardian and constraints on interactions with men who are not in their family, as well as further cultural and attitudinal stigmas.
In fact, even women who do start a company face structural disadvantages. On average, female-led start-ups receive 23% less money than male-run firms, and are 30% less likely to have a positive exit, according to the OECD.

Changing the ecosystem, one woman at a time

To close this gap, the entrepreneurship ecosystem needs more women. One data point makes this clear: venture firms with one or more female partners are twice as likely to invest in a start-up which has women in the management team, and three times more likely to invest in a company with a female CEO.
This is also true for female founders. Female-owned businesses hire more women (25%) than their male counterparts do (22%), according to the World Bank. Female-owned firms also employ a higher percentage of women in managerial roles, helping women to climb up the ladder, compared to those who are only hired for lower, unskilled positions. And women-led businesses are hiring more workers in general. In Jordan, Palestine, Saudi Arabia and Egypt, firms run by women are growing their workforces at higher rates than those run by men.
Womena is an investing platform based in Dubai, dedicated to encouraging gender diversity and inclusion in tech. It believes that in order to increase the number of female tech entrepreneurs, you need to build networks of women that can help support one another to grow and thrive. Role models are also important, such as HE Sheikha Lubna Al Qasimi, who studied computer science before opening one of the region’s first B2B marketplaces. She is best known for being the first woman to hold ministerial posts in the UAE, as Minister of Economy and Planning, Minister of State for International Cooperation, and then Minister of State for Tolerance.
Womena co-founder Elissa Freiha also believes that investing time, energy and money into female entrepreneurs will pay huge dividends.
“Women from the Arab World need to fight. The struggles they face in society, in their communities and sometimes even in their families create an amazing resilience that makes these women incredible entrepreneurs. If given the right platform, these women can become the business owners and leaders for the future of the region.”

Go digital, young woman

Digital represents a key opportunity for women in the region to solve technical and societal challenges. For example, Egypt-born Rana El Kaliouby is the co-founder of Affectiva, which has developed cutting-edge AI technology to help computers recognize human emotions based on physiological responses and facial cues. Meanwhile, Loulou Khazen Baz founded the Middle East’s first freelance marketplace, Nabbesh, as a way to help tackle the region’s youth unemployment. She has been recognized as one of the World Economic Forum’s 100 Arab Start-Ups Shaping the Fourth Industrial Revolution.
As Zahidi writes in Fifty Million Rising “If the narrative of American expansion was ‘Go West, young man’, the new narrative for up-and-coming women in the Arab World may well be ‘Go digital, young woman’.”
Evidence points to this being the case. Nearly 60% of women who are not currently employed believe that flexible hours and working from home, full- or part-time – which going digital can enable – would help them find work, showed a study by Accenture. The digital economy is also opening up opportunities for women looking to get back into the job market. The same study points out that more than 60% of women who have left and want to rejoin the workforce have entrepreneurial aspirations to start their own business.
Crucially, studies from the US demonstrate that gender pay gaps are lower in industries where there are more flexible work arrangements. Moreover, women who gain ICT skills increase their wages by 12%, which is higher than equivalent gains in men’s salaries. With a large market potential, a low amount of resources needed to get started, and productivity efficiencies enabled by technology, digital opens up a whole new world of opportunities and possibilities.

Paving the way forward

Many incredible women across the region are paving the way forward, such as Joy Ajlouny, who recently helped close a $41 million Series B funding round for UAE-based Fetchr, or Gaza Sky Geeks, the first tech hub in Gaza providing mentorship to start-ups with a focus on women. But there is still a long way to go. The digital gender gap in Arab states remains at 17.3%, down from 19.2% in the last four years, according to the ITU. Women are still a minority across the entire start-up ecosystem.
But as more women throughout the Arab World start their own businesses, break down gender barriers and push through the glass ceiling, these pioneers become an example for other women. They inspire them to imagine what’s possible for an Arab woman in the Fourth Industrial Revolution.

Read more on 3 striking trends shaping start-ups in the Middle East

 

The views expressed in this article are those of the author alone and not the World Economic Forum.