In a recent speech, Hassan Omer Arteh, President and CEO of Kingdom Investment Corporation Limited (KICL), outlined the vision and mission of the company, emphasizing its commitment to responsible investment and regional development. Here are the key highlights from his speech:
I) Our Company
A) Introducing KICL: Hassan Omer Arteh introduced himself as the CEO of KICL, an investment company managing substantial funds and financial resources. Notably, KICL includes important members of the Royal families in the Gulf region among its principles. The company specializes in Shariah-compliant investment strategies and incorporates the principle of Amaanah (trustworthiness) into its practices.
B) Restructuring for Operational Efficiency: Arteh announced that KICL recently underwent a comprehensive restructuring process to enhance its group structure and operational systems. The company is now in its final stages of the restructuring and is set to launch regional business operations soon.
C) Investing in Africa and Beyond: Arteh emphasized that one of KICL's primary goals is to invest in Africa and other regions in the Global South for regional development. The new company structure aims to facilitate resource and knowledge sharing, allowing projects and ventures to have a localized impact. KICL also aims to collaborate with governments through public-private partnerships in various jurisdictions.
II) Our Mission and Vision
A) Creating Value through Responsible Investment: Arteh outlined the company's vision to create value and make a positive impact on the world through responsible investment. The mission of KICL is to foster local opportunities, growth, and impact through regional development programs for sustainable economic growth. The company's strategy revolves around investing in infrastructure development and technologies to empower communities and improve people's quality of life.
B) Focus on the Horn of Africa: Arteh highlighted the Horn of Africa region as the company's primary choice for implementing its strategy and introducing the ODT Funding program for regional development. Acknowledging the region's rich natural resources, Arteh emphasized the need to overcome the challenges of limited access to capital investment, know-how, and technology. KICL aims to leverage these resources to create investment opportunities and become a pioneer in the region.
III) Our Strategy
A) In-Kind Professional Services: KICL's strategy involves providing in-kind professional services as part of its contribution as a development investor. In addition to providing direct funds for regional programs, the company builds, incubates, and invests in its professional ecosystem.
B) Nine Crucial Sectors: To implement the strategy effectively, KICL has organized its company group structure around nine crucial sectors: banking, energy, trading, building, technology, culture, environment, health, and empowerment. The company has built a strong foundation in banking, energy, and trading and aims to create a complete business ecosystem by developing each of these sectors.
C) Expert Management and Investment Teams: KICL is in the process of assembling experienced management and investment teams for each sector. These teams will hand-pick potential ventures worldwide, incubate them, and involve them in the development of projects in which KICL invests. This approach ensures investment funds are deployed effectively at the sovereign level, while the in-kind service team guarantees impact and growth opportunities.
IV) ODT Funding Program
A) Global Initiative for Africa's Development: Arteh introduced the ODT Funding Program, which harnesses the company's vision, capital, knowledge resources, and strategy to implement development projects. ODT, short for Operative Decisive Task, is an idea that originated more than a decade ago. The program utilizes investment funds specifically dedicated to development, drawn from trading programs managed by KICL.
B) Public-Private Partnerships and General Impact: The ODT Funding Program aims to become a global initiative for developing Africa by working with governments through public-private partnerships. KICL plans to deploy these funds through various investment channels to create financial and social impact across Africa. The dedicated ODT team within the company coordinates resources both internally and externally, proposes ideas to institutions, and manages the development of investment strategies.
C) Next-Generation Technologies and Smart City Project: KICL is keen on exploring the use of next-generation technologies to drive sustainable development. The company aims to build digital banking and governance infrastructure to better manage natural resources, ensuring transparency and accountability. Additionally, Arteh unveiled the flagship project of the ODT program, the design of an innovative smart city named Wadi Salaam. This city, interacting with Neom City in Saudi Arabia, aims to promote peace, prosperity, and regional integration in the Horn of Africa.
V) Outcome and Conclusion
In conclusion, KICL, under the leadership of Hassan Omer Arteh, aims to establish a new business model that generates value for people and fosters shared prosperity in the region and beyond. By focusing on responsible investment, regional development, and the ODT Funding Program, KICL seeks to make a lasting impact on communities, transforming poverty-stricken regions into hubs of growth, peace, and hope.
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