Forbes Middle East reveals MENA’s most powerful businesswomen

Thursday, February 3, 2022

Forbes Middle East reveals MENA’s most powerful businesswomen meet the region’s 50 power businesswomen.

The ranking features 19 nationalities, 17 sectors, and 12 newcomers.

The UAE and Egypt scored the most entries with seven entries each, followed by Saudi, Morocco, Kuwait, and Oman with four entries each.

32% – or 16 out of 50 – work in the banking and financial services sector.

 Forbes Middle East has unveiled its annual list of the region’s Most Powerful Businesswomen, ranking the region’s most innovative and influential female leaders across industries. The list was constructed based on the size of the business, the individual’s accomplishments over the past year, CSR, and other initiatives by the person.

Raja Easa Al Gurg, Group Managing Director and Vice Chairperson of Easa Saleh Al Gurg Group, tops the list for the third consecutive year. Similarly, Landmark Group’s Renuka Jagtiani, and First Abu Dhabi Bank’s (FAB) Hana Al Rostamani, maintained their second and third position from 2021, respectively.

The 2022 ranking features leaders from 19 different nationalities across 17 sectors. Emirati and Egyptian women dominate the ranking, with seven entries each, followed by Saudi, Moroccan, Kuwaiti, and Omani leaders, at four entries each. The top 10 leaders were an even split between list veterans and fresh faces. Amongst the top 10, Randa Muhammad Sadik, CEO of Arab Bank, made the most significant jump from 2021, rising from 14th to 7th position, as she assumed her role as chief in February 2022.

Of the 50, 12 women are first-time entrants on the ranking, eight of which are based in the UAE, two in Qatar, and two in Saudi Arabia. Amongst the newcomers, three women ranked in the top 10: Maryam Al Suwaidi, CEO of The Securities and Commodities Authority, Hutham Olayan, Chairperson of Olayan Group, and Hanadi bint Nasser Al Thani, Founder & Chairperson of Amwal; Founder & CEO of AL Wa’ab City Real Estate.

The banking and financial services industry is most populated with regional female leaders, with 16 of the 50 listees working in the sector. Diversified conglomerates and the retail sector follow suit with six entries each, and the technology sector with five.

More than 25% of the individuals on the ranking constitute senior leadership roles at regional offices and divisions for multinational companies, such as Saeeda Jaffar of Visa, Derya Matras of Meta, Sophie Doireau of Cartier, and Rima Assi of McKinsey & Company.

Many businesswomen successfully led critical milestones for their companies despite challenging global business circumstances over the past year. Under Sarah Al Suhaimi’s leadership, Saudi Tadawul transformed into a holding group and executed a long-awaited IPO. Mona Ataya of Mumzworld sold a majority stake in the company to Saudi-based Tamer Group in one of MENA’s most significant exit deals in 2021. And Sophie Doireau of Cartier oversaw the jewelry giant’s collaboration with Expo 2020 Dubai to launch the Women’s Pavilion, the first standalone pavilion dedicated to women at a world exhibition.

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