Badr Jafar, CEO of Crescent Enterprises, a UAE-based conglomerate operating across multiple core sectors of the global economy , recently addressed the Forbes Women's Summit in New York. The summit, entitled “Power Redefined; Generations Unite to Change the World”, is a departure from previous years in its focus on the role of female entrepreneurs, across generations and markets, in the development of sustainable business models. The only man invited to speak at this annual event with over 200 participants of women global CEO's and public officials, Jafar focused on the challenges and opportunities facing women within the Arab economies. Specifically, he commented on how entrepreneurship can address the very high rates of unemployment, particularly faced by the Arab female population. According to a World Bank report (Opening Doors: Gender Equality in the Middle East and North Africa, March 15), there have been considerable achievements in bridging the gender gap within the region, however, this has not been mirrored in the workplace. Across the MENA region, young, educated women face unemployment rates of up to 60% and, for the female population as a whole, only 25% of those available for work are employed. Speaking on this point, Jafar, who also founded the Pearl Initiative in partnership with the United Nations Office of Partnerships to tackle corporate governance in the Arab World, commented “As the economies in our region develops and grows, it is crucial to ensure that women are an integral part of this progress. Not just as employees but as entrepreneurs and business owners.” He continued, “This is where the principles of social entrepreneurship comes into its own. By extending the focus of economic development beyond simply profit maximization, by considering people and the planet, we will be able to build a sustainable business models which will deliver long term societal benefits in addition to greater economic profit. So when it comes to women and entrepreneurship; by ensuring that the business model includes and promotes women at every level, we will be alleviating the level of unemployment, felt acutely by women, as well as adding real and tangible value to our companies.” In addition to Jafar, the summit heard the views of Oprah Winfrey; Janet Napolitano, Secretary for the Department of Homeland Security; Ellen Kullman, CEO of Dupont; Anne Sweeney, President of Disney ABC Television; Donna Karan, Founder of Urban Zen, Founder & Designer of Donna Karan New York & DKNY Clothing Brands; Lauren Bush Lauren, Co-Founder & Chief Executive Officer of FEED Projects and Susan Wojcicki, SVP of Google. — SG
