Sadiq Damani

I recently spoke with publicly-listed family business CFO here in MENA. Despite their success, only 1% of sales come from online channels. (Their revenue is upwards of SAR 800M ($200M+)) When I asked, they diagnosed this as their main challenge: An outdated e-commerce platform w/ poor integrations to their ERP systems. It’s a great pity, really. More so because I hear about it all the time with many local/regional leaders. Even giants here struggle to sell online. My view is that it goes much deeper than having the right platform, Organisations have to prepare holistically. Bigger firms have much more technical debt and various dependencies. It makes it much harder to be nimble and change quickly. Not to mention the difficulty of introducing something new. Key elements I see in firms that successfully adopt digital: ⚙️Modern tech stack: They are not held back by functional limitations and are using the latest technology to power e-commerce stores and processes — ⚙️Cultural readiness: Employees and leadership teams are aligned with the goals and have the right mindset top adopt it — ⚙️Trained executors: A great plan demands swift implementation. If teams have the capabilities and processes - the journey will be smoother. — ⚙️A tech-driven vision: Management needs to set clear objectives and have strong conviction in transformation — The size of a company ≠ agility or innovation. It always comes back to the fundamentals. Invest in modern tech. Create solutions that fit. Leverage local expertise and keep your teams trained.

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🤔 Money V Culture? Are you choosing a good culture or are you in it for the cold hard cash. Our Employee Insights 2024 Document is now live! We've gathered data from over 15,000 Digital and Tech professionals across the Middle East, spanning even more diverse backgrounds than before. The document includes: ✅ What motivates people the most in their role ✅ Factors that influence employees to stay at a company ✅ Which factors make someone decline a job offer And much more. Download your copy today and let us know what you think! ⬇️ #disruptingthefuture #employeeinsights #employeehappiness

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Working between the UK and Middle East has truly been an incredible journey 💫 Those that know me, know that I enjoy pausing to reflect on our unbelievable successes and inevitable failures (almost to a granular level). Thus ensuring that Community Partners remain front-and-centre when it comes to real innovation, moving with the fast-paced markets with a true appetite for change. The evolving relationship between the UK and the Middle East, particularly Dubai and Saudi Arabia, presents significant opportunities in the consulting, advisory and recruitment sectors. As these regions undergo rapid economic diversification and development, there is a growing demand for expertise in key areas such as digital transformation, infrastructure, operational efficiencies, not to mention private equities. For UK-based consulting and advisory firms, this opens the door to partnerships that leverage local insights while delivering global best practices. In Dubai, known for its business-friendly environment, then there is Saudi Arabia, with its Vision 2030 reform plan, the need for strategic collaboration is paramount. These #partnerships can help bridge the gap between local ambitions and global expertise. Community Partners continue to make waves with our proven concept, seeing our partnerships scale to new heights, whilst transforming the way the consulting and recruitment services are being delivered globally. Our transparent, no-nonsense approach offers a pathway to mutual growth and innovation, underpinned by strong partnerships and collaboration. Real people. Real partnerships. Real successes. 🌎 Community Partners Charlotte Harrison Saira S. Arif 🍉 #GlobalSME #Riyadh #KSA #Dubai #UAE #London #UK #Consulting #Advisory #Recruitment #NoDatabase #JustCommunity

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🔝Where does the🕌Middle East stand in the global 🦾AI funding race❓ The #UAE and 🇸🇦Saudi Arabia are at the forefront of attracting more #capital to power their #AI ambitions 🕌Middle East #investment funds have the potential to become global players in the booming #artificialintelligence space, given their vigorous push in the advanced #technology sector, according to experts. International investors are particularly taking notice as the region targets untapped markets, clarifies government policies to create advanced tech-friendly environments and integrate AI into all aspects of the private and public sector, industry experts say. Consultancy PwC had estimated the region’s future slice of the world’s AI market at 2 per cent – $320 billion – by 2030. Yet this was predicted about six years ago, before the region attracted billions and sealed partnerships with major western tech leaders such as #Oracle and #Amazon. Most recently, in April, Microsoft entered a $1.5 investment and #partnership with the UAE’s leading AI entity G42. The UAE and Saudi Arabia are at the forefront, as the Arab world's two biggest economies that have focused on diverting away from oil and gas reliance, in pursuit of being recognised as global hubs for tech entrepreneurship and innovation. Global corporations seeking to tap into the region’s anticipated future influence are acting on the offerings. “Compared to global counterparts, Middle Eastern AI funds are still nascent … [but] the growth is expected to be significant,” Mohammed Soliman, director of the strategic technologies and cybersecurity programme at the Washington-based Middle East Institute think tank, told The National. He said that “the region offers a compelling case for AI investors”, as “governments are actively supporting AI development through funds and initiatives”. This is shifting the gaze of global tech heads who are looking to connect to the Middle East and further, said Mr Soliman. Read More…

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It’s great to be back at GITEX GLOBAL Largest Tech & Startup Show in the World — there is nothing like the energy at the Dubai World Trade Centre, as we witness the future of technology evolving before us. For e&, this year is all about demonstrating AI in action. We’re showcasing how we’re integrating AI into everyday life— helping businesses grow, improving how we connect, and creating real value across all sectors of today’s digital economy. It was an absolute honor to welcome -together with our chairman Jassem Al Zaabi- His Highness Sh. Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and His Excellency Dr. Sultan Al Jaber at our stand today and share our passion for innovation and a tech-driven future. Was also great to meet USA Ambassador Martina Strong and HE Ms. Reta Jo Lewis, President and Chair of Board of Directors, Export-Import Bank USA, at our stand today and discuss how we have great cooperation with our technology partners from the United States. We’ve also had some great moments today, the most exciting so far is signing a new strategic partnership with Amazon Web Services (AWS). Together, we're investing $1 billion-plus over six years to boost cloud and AI adoption in the UAE and the region. And it’s not just about tech; it’s about people, too. Part of this investment will be dedicated to training and certifying up to 60,000 individuals—including 6,000 UAE nationals—in cloud technologies and AI. I’m excited about the broader market opportunity this partnership will provide businesses, people, and our community at large. #GITEX has always been the perfect place to reconnect with industry leaders, share our latest innovations, and explore the groundbreaking ideas pushing digital transformation not just in the UAE but around the world—and this year is no exception.   Come by the e& pavilion, talk tech with our team, and see how we’re doing AI. #eAndAtGITEX #AI #AIForGood #TechForGood #GITEX2024

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Our study reveals that Saudi Arabia tops the global ranking in Click-and-Mortar shopping with over half of Saudi shoppers preferring a blend of online and in-store shopping (Saudi Millennials and Gen Z leading the trend). That is according to our "2024 Global Digital Shopping Index: Saudi Arabia Edition" which we released recently. Good article on the results and how we're delivering the exprriences Saudi consumers seek and deserve. #DigitalShopping #ConsumerTrends #ClickAndMortar #SaudiArabia

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Check out how Zero&One is accelerating #AI Adoption in the #MENA Region with #BRAiN - a unique comprehensive AI acceleration program! Thank you Enterprise Channels MEA for featuring me on you magazine cover!

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I had a great time chatting about Menelik's journey into tech! Thank you Mena for some great advice for people looking at getting into tech! I've said it before but hats off to you for the hard work and dedication you’ve put into getting where you are today 👏 I've passed some of your advice on multiple times since our conversation. Be sure to have a listen and make plenty of notes 🖊 Links below 👇 #TechIsForEveryone

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Whilst the average is 3.83x, for the #financialservices sector, every fraudulent transaction costs an astounding 4.56x the lost transaction value in the KSA. Download our infographic which highlights main types of #fraud in Saudi Arabia along with the challenges & the largest contributors towards fraud losses.

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How can regulators become enablers of sector development? This new report by my colleagues Jad El Mir, Mahmoud Makki and Haidar Haidar explains how modern ICT regulation can power a digital economy and move GCC countries closer to their bigger-picture economic ambitions. Download the report 👇 #ICTregulations

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Exciting news for Zain and Global Markets. After working with Global Markets and seeing what they do, it’s not a surprise that Zain has extended their strategic partnership with them - Global Markets is truly a remarkable firm working in data analytics. They perform precise industry data collection and turn it into coherent market information that can be used to make sound, data-informed decisions. The importance of this kind of work in today's data-driven world cannot be overstated. Without truly understanding the ins and outs of the market you’re competing in, there is no way you’ll become a top competitor! TechGrowth was lucky enough to work on the first MVP of the Global Market’s system back in 2017, and it’s amazing to see how far they have come. Great work Ali! Wishing you prosperity and success in the continuation of your partnership with Zain! #StrategicPartnerships #GlobalMarkets #Telecom #Kuwait

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Imagine this. You get contacted by a global venture accelerator making waves in MENA to be flown out and meet with early-stage founders being incubated by a leading regional Telco to listen, share experiences, offer insights & even learn a thing or two about what else the builder's struggle looks like To think that a 🍔boy (that's what the proverbial they call US-Educated Pakistanis) would one day be sitting on a platform sharing "wisdom" and "feedback" as if I have anything useful to share 🫣 While I may appear humble, I'm acutely aware of the experience I bring. The only question is, whether it creates value for those it's intended to benefit. Heck, the kind of trouble I̴'̴v̴e̴ ̴g̴o̴t̴t̴e̴n̴ ̴i̴n̴t̴o̴ I'm getting into while trying to build a company, or three, it's impossible to do without pitfalls worth sharing with others. Brinc - Thank you for bringing me out to Muscat to meet these really inspiring and generally epic founders ⤵️ 1. Tasheel ▸ Sharia-compliant travel platform offering "Travel Now Pay Later," allowing exploration without upfront payments. 2. Hal Capital ▸ Sharia-compliant microfinance platform providing direct financing to underbanked MSMEs and individuals. 3. Bon + ▸ SaaS-enabled B2B wholesale marketplace for the Hotel, Restaurant, and Catering (HoReCa) sectors. 4. Bayanat ▸ Data analytics firm leveraging AI/ML to optimize ROI and operations in energy and telecom, aiding critical decision-making. 5. Sayyad ▸ Digital seafood marketplace connecting fishermen with businesses to optimize costs and reduce waste. 6. Wadiaa ▸ Regulated fintech hub for crowdfunding new ventures and crowdlending for SMEs, empowering savings and investment. I for one am very excited to see how these startups create value, within and beyond The Sultanate of Oman 🇴🇲! ----- jalebi.io | جليبى Omantel Brinc Brinc MENA Lutfi Al Shukaili Amani Al Subhi Ahmed Bayoumi Qais Al Jedyani ----- #Founders #Mentoring #startups #Oman #Muscat

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The Tides of Change in Middle East Tech Funding As the dust settles on 2023, a new landscape emerges. Saudi Arabia has taken the lead in venture capital fundraising in the Middle East, securing a whopping 52% share of the region's total VC funding! But beneath the surface, a more complex story unfolds. Despite Saudi Arabia's impressive gains, overall regional funding dropped by 23% last year. What does this mean for entrepreneurs, investors, and innovators in the region? At Tech Comradery, we believe that innovation thrives in the face of adversity. As the tides of change continue to shape the Middle East tech scene, we're committed to helping businesses and entrepreneurs navigate these uncharted waters. Let's dive into the possibilities and challenges of this new era together! Share your thoughts on what this shift means for the region's tech ecosystem. #MiddleEastTech #VentureCapital #SaudiArabia #Innovation #Entrepreneurship #DigitalTransformation

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Another step further in designing #UAE as a #AI hub. As soon as a country shows a strong commitment in a challenge the #businesses follow. Beyond the hype #AI is going to reshape the way we imagine the strategies in every business, and #MENA region seems to look far beyond...

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Saudi Arabia ranks first in total VC funding across MENA 🥇🇸🇦 A Venture Capital Report published by MAGNiTT and sponsored by STV tells all! Here're the top findings: • The report covers the first half of 2024 🗓️ • Saudi Arabia had a total VC funding of $412M, while the UAE had $225M, and Egypt had $86M 💰 • 63 deals have been closed in Saudi Arabia during the first half of the year 🤝 • Saudi investments make up 54% of all VC investments in the region, compared to 38% during the first half of 2023 💪 • E-commerce got the biggest share of investments by 52%, with a total funding of $214.9M 🛍️ • Out of all deals, Fintech startups acquired the largest number of deals by 14% 💳 • The number of investors backing Saudi startups have been increasing by 16% annually 📈 • Salla E-Commerce Platform and Rewaa were the top fundraisers in Saudi Arabia 🛒 • Non-Mega deals valued at ~$26.7M or less have increased by 83% compared to last year 📊

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A key theme on last week's InPeak x Fladgate LLP panel: Invest in the region. If you're a VC or a startup looking to break into Saudi, invest time, invest money, and immerse yourself in what Saudi has to offer. There is no 'remote' solution to entering this market, especially considering that making connections online is not near enough. Once you land, the country is brimming with opportunities. Note sent from Riyadh. #saudi2030 #IRLevent #inpeak #fladgate #saudi #VCs #lps

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In Riyadh, I’ve spoken to many product and tech leaders who complain about the absence of data driven decision making. Things are often uncovered very late in the day by chance such as customer complaints, systems going down, user interviews etc. Decisions are instead driven by the founders pet projects and personal preferences as opposed to facts/reality on the ground To gain a competitive advantage when building a software product in KSA you must invest in data engineering and product analysts to empower decision making for your business and product teams. Otherwise… you are guessing blindly and will always have a weak understanding of your users. #Riyadh #productmanagement

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GCC countries have been driving economic diversification efforts to encourage a transition to knowledge-based economies, with the development of globally competitive alternative industries being a part of this effort.     A report from PwC Middle East mentions how a mere 1% increase in RDI spending can lead to economic growth of 0.6% - highlighting the need for effective research and innovation in driving economic diversification.     Currently, the average national spending on RDI for GCC countries is at the level of 0.7% of their GDP, while the international average stands at nearly 1.9% - culminating in not only a significantly lower research output per million of the population, but also a lower representation in the top 5% of journals, as ranked by Source Normalised Impact per Paper (SNIP). While many may approach this gap as a negative issue, I see it as an opportunity for public and private collaboration to match the need for innovation with a growing desire to innovate.     Moving forward, I feel that key avenues for growth will need to be supported by dynamic and robust frameworks that account for skilled personnel, adequate funding, and creating a wide and deep knowledge base while simultaneously enabling cutting-edge research through investments in mechanical and human resources.     A future in which RDI efforts are completely aligned with long-term educational and national goals is a future in which long-term success and global competitiveness can be achieved.    How do you think the public and private sectors can work together or independently to drive wider-scale RDI across the region? Let me know below!     Read the full PwC report here: https://lnkd.in/d_MaJ59U    #RDI #GCCInnovation #Growth 

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Exciting times abound during the Global Games! At DevoteamUK, we’re turning every British medal into a golden opportunity for you. For every 10 medals our great nation athletes win, we’re offering 5 hours of premium consultancy worth £5K! Let us help you race to the finish with opportunities that could include: 🏅 Idea, Process, and Design Workshops 🏅 Cloud Infrastructure or Platform Licence Review 🏅 AI Insights or an AI Hackathon 🏅 Cost or Efficiency Optimisation Review Entering is easy—just fill out our draw form, and you could be the lucky winner. We’ll pick a new winner randomly after every 10 medals until the end on 11 August. Support the British Team and let their victories transform your business. Enter now https://bit.ly/3A2Qsir and seize this golden opportunity! 🌟 hashtag#DevoteamUK hashtag#Innovation hashtag#Consultancy hashtag#AI hashtag#CostOptimisation hashtag#TransformationDesign hashtag#LicenceReview

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