Kuwait: All-women Kuwaiti firm set up

KUWAIT CITY : Tejarati Holding Co — the first all-women Kuwaiti enterprise was officially launched at Sahara Club, Monday. Aimed at fostering entrepreneurship and business acumen among Kuwaiti women, the new entity will also focus on social development of women in the country.

The event was attended by Nabeela Al-Anjarie, General Coordinator, Haya Al-Sahali, Head of Administration and Ravaa Al-Muhanna, Consultant. The company will be managed by experienced women at all levels and is also funded by Kuwaiti businesswomen.

It will have a fully paid up capital of KD 30 million in 300 million shares with a nominal value of 100 fils per share. Tejarati hopes to make a 14 percent return in the first year of operation and will be primarily focusing in sectors like real estate, finance and rental, and education and health.

Speaking at the occasion, Nabeela said that the company hopes to receive overwhelming response from the women in term of investment subscription and in the event of total subscription exceeding the target capital, the surplus amount will be channelised for the formation of a new subsidiary company.

Nabeela went on to state that there is scope for developing business locally as well as regionally and may also consider going global further down the line. She was also quick to clarify that the whole idea of forming the all women business venture does not imply any grouse against the men folk in general but in fact will seek cooperation from them in achieving the goals set by the company.

Haya on her part said that the company is fully sharia-compliant (investing only in Islamic products) and hopes to make good returns on the investments. It also aims at providing necessary training to groom women into the field of business and thereby utilizing their potential for the benefit of the society and the country at large.

The company has future plans to plough money into education and health sectors which is crucial for the progress of women.

By John MathewsArab Times Staff