A look at the top movers and shakers set to shape Kuwait’s future.

We’ve all heard of Forbes’ Middle East Top 100 lists of successful business leaders, but how about the people who are making big things happen in Kuwait?

Kuwait’s Vision 2035 is on the horizon, a national program aiming to build and diversify business growth over the next 12 years. It plans to help over 3,500 new small businesses launch in that time.

There’s never been a better time to launch a new business idea, but who can new  Kuwaiti entrepreneurs turn to for inspiration in making it work?

Welcome to the first-ever Kem businesspeople and entrepreneurs list. We’ve decided to take an in-depth look into the most important business figures in Kuwait who are helping to shape the country’s future right now.

Competition is fierce, but these individuals all have something that can inspire emerging business minds across the nation.

Sick of waiting around for IBANs and payment links? Kem’s QR code payments app lets you receive and send money in seconds.

What does it take to make the Kem entrepreneurs list?

Kuwait is famous for its innovation and enterprise, which is one of the main reasons why the country has enjoyed a prosperous economy in recent years.

The heart of business entrepreneurship beats hard in Kuwait. There are scores of successful business people who can make a claim to be included on this list. Narrowing it down to just 10 is difficult, so what are our criteria?

Well, in short, we look for three key ingredients.

1. Brand performance – how has this person’s brand added to the market in Kuwait and elsewhere in the Middle East? We look at the facts and figures behind their start-up’s success story
2. Personal influence –  how have their attributes and character made an impact on the business ecosystem?
3. Industry influence –  how do they contribute to and shape discussions within their respective sectors?

We then condense these factors into a single assessment to determine whether they make the list.

As a thriving trade hub and home to several startup incubators, Kuwait produces new business talent all the time, so we expect this set of Kem entrepreneurs to change each year.

So, without further ado, let’s dive in.

Kem entrepreneurs: The 10 most innovative business people in Kuwait in 2023

To make an impact in the national corporate sector, entrepreneurs need to do something extraordinary, be it coming up with new inventions or fresh business models that challenge the status quo.

Each entry on this list of Kem entrepreneurs stands out for their originality and serves as a role model for the next generation of businesspeople.

Here they are (in no particular order).

1. Bader Al-Kharafi

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Source: Kuwait Times

Bader Nasser Al-Kharafi is the Vice Chairman and Group CEO of telecommunications firm Zain Group and has spearheaded its success across the Arab world.

As CEO since 2017, Al-Kharafi has helped Zain grow significantly. It now serves approximately 50.9 million customers, and in 2021 he launched the Zain Venture Fund, investing in successful ventures like Pipe and Swvl.

Al-Kharafi is dedicated to shaping Zain's trajectory while promoting social responsibility, and his philanthropy reflects this. He supports the Kuwait Food Bank, benefiting over 5,700 Kuwaiti families, which provides meals, skills, and training for employment. He is also involved in the youth project INJAZ Kuwait, focussing on training tomorrow’s leaders, and in 2019 he launched WE ABLE, an initiative dedicated to making Zain Group disability-inclusive.

It's this mix of visionary leadership and commitment to inclusive initiatives that marks Al-Kharafi out as a transformative business leader in 2023.

2. Mohamed Al Shaya

Source: Arabian Business

Mohamed Alshaya stands out as a titan in Gulf retail, steering the Alshaya Group to unparalleled success.

As CEO of the retail division since 1990, he orchestrated the expansion of the franchise empire to nearly 70 brands across 16 countries. Alshaya's strategic prowess is evident in the conglomerate's diverse holdings, spanning real estate, construction, hotels, automotive, and IT.

Despite challenges following the pandemic, Alshaya remains resolute, aiming to expand the company across the MENA region via famous English-speaking brands including Starbucks and ShakeShack.

His visionary leadership has transformed a shipping company founded in 1890 into a global retail powerhouse, making Mohamed Alshaya a preeminent business leader in 2023.

3. Tarek Sultan

Source: Gulf Business

Tarek Sultan has been head of global logistics firm Agility since 1997.

Under his guidance, Agility has become a major player in the Middle East and North Africa, with assets worth $9.5 billion in 2021 and over 45,000 employees across more than 40 countries.

Sultan’s influence extends globally, with roles in organizations like DSV A/S and the World Trade Organization's Business Advisory Group underlining his impact on international trade.

Sultan's journey from managing director to global leader marks him out as one of the top Kuwaiti entrepreneurs 2023 has to offer.

4. Kutayba Al Ghanim

Source: HBS

Kutayba Alghanim, Chairman of Alghanim Industries, has steered his company from a regional player to a global corporation.

Departing from traditional practices early in his career, he fostered a culture attracting top talent, embracing technology, and driving innovation.

Kutayba's impact now extends beyond business, shaping contemporary culture in Kuwait. As part of a prestigious family legacy, he continues the commitment to quality education and sustainability by investing in several social and environmental initiatives.

Kutayba's strategic initiatives, like introducing franchising, has helped the company grow on an international level.

Today, Kutayba envisions education as the key to regional prosperity, and that quality and innovation will be the two benchmarks of Kuwait’s future as it seeks to become a major GCC market along with Saudi Arabia, Qatar, and the UAE.

5. Abdulaziz B. Al Loughani

Source: Forbes Middle East

Abdulaziz B. Al Loughani, chairman and co-founder of e-commerce startup Floward,  has been a business trailblazer since launching the flower and gifts ordering platform in 2017.

Floward operates in nine countries and 37 cities across the Middle East and Europe, including Dubai and London. It boasts 1.2 million users, largely owing to Al Loughani's entrepreneurial prowess, which extends to his role as Managing Partner at Faith Capital.

Al Loughani is a pivotal figure on the region's corporate scene, with a background in co-founding Talabat.com and significant roles in Kuwait's SMEs development and private sector advisory boards,

He backs this up with degrees in information systems and e-commerce and an MBA to make him one of the most knowledgeable business owners around in 2023.

6. Seth Abul Sadeq

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Kuwait stands on the verge of a payments revolution and one company is leading the way.

Kem is an instant payments app that’s changing the way we send money. Out go the tedious IBANs and payment links of yesterday, in come single-tap payments.

In the past year, the fintech start-up has secured over $1 million in funding and has acquired thousands of new customers following its launch.

CEO Seth Sadeq is clear about what this means.“We want to redefine the Gulf's relationship with money,” he says, alongside his co-founder and brother Zane. “So we built Kem to remove the pain from peer-to-peer payments by making them simple, instant, and accessible. We have already seen the impact Kem has made on people in Kuwait post-launch and we want more people to know about what we do”.

Guided by mentor Timothy Li in California, Seth's vision for Kem is powered by advanced AI and machine learning, ensuring secure transactions.

His commitment to financial inclusion places him as a true business leader in 2023.

7. Mohammad Al-Suraye

Source: Forbes Middle East

Mohammed Al-Suraye has made a significant impact in the edtech sector since establishing the company in 2011. Edtech, or education technology, is the use of IT tools to enhance learning, and Al-Suraye’s company, Dawrat, excels in this sector.

As an innovative platform, it connects users with training facilities, educators, and online course providers, offering over 400 physical and online training courses.

Under Al-Suraye's leadership, Dawrat's mobile app has gained nearly 250,000 active users, creating widespread quick access to online education.

With a strong foundation in information technology and services, Al-Suraye has brought impressive expertise to the edtech sector, and Dawrat is now the biggest online education platform in the MENA region.

8. Talal AlAwadhi

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Source: Forbes Middle East

Fintech is a growing industry in Kuwait, like in many other countries, and Ottu is one that recently made the Top 30 Forbes Middle East Fintech companies in 2023

The man behind Ottu’s success is Talal AlAwadhi, who has a technology background thanks to his tenure as CEO of KUWAITNET.

So, what defines AlAwadhi and Ottu’s success? One clue might be the strategic partnerships that the start-up has made in the short time since its launch in 2019, which have helped the company’s scalability.

These include collaborations with payment gateway CrediMax and the National Bank of Oman as Ottu seeks to innovate in the Middle East epayments sector.

9. Farah Al Humaidhi

Source: Forbes Middle East

As the visionary founder of Pieces by Farah, Farah Al Humaidhi is a dynamo in the world of interior design.

Armed with an MBA from Kuwait Maastricht Business School, Al Humaidhi has passionately sculpted a design empire since 2010. In 2012, she launched Pieces by Farah, crafting bespoke furniture and accessories, all proudly Kuwaiti-made. Farah also initiated design courses across the GCC in 2014, expanding to online platforms in 2018 and helping to democratize design education.

Bursting with energy and creativity, Al-Humaidhi tirelessly promotes local talent in a mission to reshape the region’s design narrative. She is more than an entrepreneur but a catalyst for change and an inspiration to up-and-coming Middle East designers.

10. Abdullah Al Mutawa

Source: Entrepreneur

Anyone who’s ever organized a food delivery in Kuwait will have heard of Cari, a zero-commission mobile platform that’s rapidly expanding its reach across the MENA region.

Founder Abdullah Al Mutawa has been a busy man since Cari’s launch last year. He has put his experience in the delivery scene to great use, building on his success with Carriage which he sold to Delivery Hero recently.

Cari’s customer-centric philosophy comes from Al Mutawa’s own: it stands out for charging no extra fees and for keeping within a 30-minute delivery window.

With a keen eye on revolutionizing the food delivery ecosystem, Al Mutawa is turning challenges into opportunities and steering Cari toward a future of fair food deliveries.

Ready to join the Kem revolution? Our QR-code-powered app will save you time and money when it comes to receiving payments or paying friends. Sign up today and get started within seconds.