THE NORTH AFRICA 50 OF THE ARABIA500

30 November 2011…AllWorld Network today announced Arabia500+Turkey, a ranking of the fastest growing young companies in the Middle East and North Africa Region (MENA), Turkey and Pakistan.  The entrepreneurs of the Arabia500, spanning from Morocco to Pakistan are succeeding against the odds, growing at 40 percent yearly in the toughest downturn in 80 years, and two-thirds reporting stronger profitability compared to a year ago.  

Today AllWorld is announcing the North Africa 50 part of the Arabia500, representing some of the most dynamic private companies of Morocco, Algeria, Tunisia and Egypt.  This follows the release yesterday of the GCC winners with other country announcements leading up to the gathering of the Arabia500 winners on December 3rd for the Global Summit on Entrepreneurship in Istanbul.

“The Arabia500 companies, led by dynamic men and women, represent the leading edge of a new approach to competitiveness,” said AllWorld co-founder Harvard Business School Professor Michael Porter.  Joining AllWorld to create the Arabia500 were TEPAV and TOBB (the Federation of Turkish Chambers), private equity giant Arcapita, and consulting firm Monitor Group.    ISED Solutions and Cisco partnered with AllWorld, engaging chambers, business associations and embassies to reach out across North Africa to find the next generation of growth companies.  

It was a Tunisian North Africa 50 company, Altea Packaging, that pushed for AllWorld to come into the region.  In an email from January, Altea CEO Slim Zeghal wrote, “As you may know, we have just experienced a revolution in Tunisia, a revolution for good, that will probably lead to gaining three to four percent growth rate per year in the future. However, in the short term, we need to get the world to believe in Tunisia, in its economy, in its stability… Do you believe you could help us do something related to the Arabia500 in Tunisia to support what is going to be the first real democracy in the Arab World?”  With this, the North Africa 50 was born.

While the companies of the Arabia500+Turkey are largely unknown, their combined GDP is greater than 80 countries.  Collectively, the Arabia500+Turkey represent $15 billion in sales and 100,000 employees, equal to two times the size of Apple Inc.  Each entrepreneur on the ranking has created an average of 200 jobs, in industries from web technology to transportation, energy to education, and construction to consumer goods.  An average of only 42 years old, nearly all of them plan to found another company in the next two years. 

The Arabia500 winners will gather for the 2011 Prime Minister’s Global Summit on Entrepreneurship in Istanbul, Turkey, December 3-5.  They will be recognized Turkish Prime Minister Erdogan and US Vice President Biden, and will spend three days with AllWorld’s Capital Partners Arcapita, RED/Abraaj, Eastgate Group, NCB Capital, Cyan and celebrated investors Dr. Ghassan Sulaiman of Saudi Arabia and Samad Dawood of Pakistan.

“From the Arab Street to Wall Street, the need is for bold economic action and immediate job creation.  Investing in the entrepreneurs of the Arabia500 is the surest bet to unleashing economic opportunities,” says economist Anne Habiby, co-founder of AllWorld Network.  “We congratulate each of the Arabia500 winners and their teams on their outstanding achievements, and we know thousands will take inspiration from them. “

Any private, non-listed, company was invited to compete for a spot on the inaugural Arabia500 by having rapid sales growth and demonstrating results with audited financial statements.  “Many assumed the region only had small and unsophisticated entrepreneurs.  The Arabia500 crushes that assumption.  The Arabia500 are some of the most sophisticated entrepreneurs in the world, many with operations spanning the Middle East, Africa, and Asia, and with deep ties to Silicon Valley and universities around the world,” said Deirdre Coyle, co-founder of AllWorld Network. “As the winners of the Arabia500, we look forward to working with them to become the largest entrepreneurial collaboration and force for good.”

AllWorld co-founders Anne Habiby, Deirdre Coyle and Professor Porter mounted a 15-country effort with 40 organizations to find growth entrepreneurs, including Zawya, Cisco, chambers, business associations and many leading NGOs working with entrepreneurs.    Companies had to complete an application, show audited statements to verify their sales, and be strenuously vetted.  The Arabia500 winners represent 15 countries, with the most number of winners coming from Turkey and the UAE, followed by Pakistan, Saudi Arabia, Jordan and Tunisia. 

“Millions of entrepreneurs across the world challenge the status quo, finding solutions every day and improving the lives of many around them,” said Shadi Banna, founder of Potential and the SME Evolution Program.  “If they can be brought into the spotlight and empowered to do what they do well, we have a chance to enhance the world. And that's what the AllWorld is doing. “

AllWorld’s mission is to make visible the emerging companies of the world, so that thousands of players can invest in them, buy from them and work for them.  By making companies visible, AllWorld is increasing their odds of success and spurring innovation – what AllWorld calls Visibility EconomicsTM.    

AllWorld is releasing a series of market insight reports on the Arabia500 based on real time operating and financial performance information.  Last week, AllWorld released Now, calling for a bold new economic agenda centered around the Arabia 500.  The Arabia500 findings and company profiles available at AllWorldLive.com, and Habiby and Coyle 2010 article “The High-Intensity Entrepreneur,” can be found at the Harvard Business Review at HBR.org.

Attachement:  Arabia500 Ranking, Top Company Profiles, Arabia500 Report