In addition to this, Qanawat has also received the award for Best Strategic Growth for the year 2010. The results of the awards were announced in Riyadh under the sponsorship of the General Investments Authority.
Saudi Fast Growth 100 is an index formed by Saudi enterprises and academics at Harvard University to track industry performance. A national program to promote entrepreneurship and innovation in Saudi Arabia, Saudi Fast Growth ranks the fastest-growing emerging companies in the Kingdom that are creating jobs and spurring innovation and growth. The awards shed light on those companies that represent the economic future of the Kingdom, as they contribute to building a more competitive and dynamic Saudi economy through their energy and innovation. The winners are ranked according to their revenue performance over the last five years.
The two awards were presented to Dr. Mohammed Bahabri, Managing Director of Qanawat, at an Awards Gala at SAGIA’s 4th Annual Global Competitiveness Forum held last week in Riyadh. The awards were attended by more than 3000 participants including business leaders, academics and government officials from Saudi Arabia and abroad.
“We are very excited to be a part of the Saudi Fast Growth and honored to be awarded a place among the 100 Fast Growing Companies; it is a great recognition of all our continuous hard work. Winning the award for Best Strategic Growth is particularly exciting for us as we are constantly striving to develop clear strategies for growth and ensure that the needs of our customers and partners are effectively and efficiently met.”
said Dr. Mohammed Bahabri, Managing Director, Qanawat.
The awards honored Qanawat’s commitment to serving its customers and facilitating the success of its partners, as well as its strong market presence and visionary strategic outlook. Qanawat has held a place among the 100 Fast Growing Companies for two years running in the year 2010. In 2009, the company’s total sales reached SR1.5bn with a growth rate of 25%.
Qanawat was successful in building the largest distribution network system for the sale of telecommunications operators’ products and services in the Kingdom, which includes pre-paid and post-paid subscriptions, charging cards, and a delivery of data and services device. This ranking among the 100 Fast Growing Companies highlights Qanawat’s strong market presence and solid position as the preferred partner and leading distributor of Mobily, one the Middle East’s biggest telecommunications carriers.
“We greatly value our customers and partners and these awards are a validation of our efforts and dedication to building strong relationships, and a reflection of our leadership in the telecoms sector. We will continue to roll out our plans and reinforce our efforts to further strengthen our commitment to KSA and its economy”, added Dr. Bahabri.
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