Rawabi Holding Company Expands Strategic Partnership with World Wide Generation into JV

• Rawabi will fast-track sustainability performance and financing especially in hard to abate sectors in Saudi Arabia and wider MENA region
• Rawabi to leverage WWG’s G17Eco Platform to create a new overarching umbrella of sustainability services

Rawabi Holding Company (“Rawabi” or the “Company”) has announced the signing of a Joint Venture (JV) in the Kingdom of Saudi Arabia with sustainability fintech leader World Wide Generation (WWG), in addition to Rawabi’s investment of multimillion GBP in WWG to become one of its shareholders.

The JV builds on Rawabi’s existing partnership with WWG to streamline and standardise sustainability reporting across its global operations, companies and projects using the G17Eco Platform. The new venture will see Rawabi fast-track sustainability performance and financing especially in hard to abate sectors in Saudi Arabia and the wider Middle East and North Africa region.

The Rawabi/WWG JV forms one of the first successful ventures coming out of the UK/Saudi Great Futures Campaign and Trade Bridges established earlier this year and has overwhelming support from the Saudi Ministry of Investment, Ministry of Commerce, Saudi Fintech, the UK Government’s Department of Business and Trade and The British Embassy.

The JV also entails Rawabi providing all infrastructure support including the necessary backend operational support services such as legal, HR, recruitment, senior management expertise, local content guidance, finance and office setup for WWG’s entry and soft-landing in KSA.

Aligning with the Saudi Vision 2030 to build a thriving economy, Rawabi plans to create a new overarching umbrella of sustainability services across all its business verticals using the G17Eco Platform including Sustainability Education, Advisory,

Digital Reporting Tools, and a Solutions and Financing Matchmaking Marketplace. The new tools will be offered as part of its service to all clients of Rawabi and projects across the Kingdom, as well as other strategic markets such as Canada, US, Singapore, Indonesia and beyond.

Rawabi and WWG plan to create core IP needed especially for hard to abate sectors and the financing and digital transformation required to accelerate the transition, to meet the Sustainable Development Goals (SDG) in particular contribute significantly to SDG’s 5 (Gender Equality), 7 (Affordable and Clean Energy) 8 (Decent Work and Economic Growth), 9 (Industry, Innovation and Infrastructure), 11 (Sustainable Cities and Communities), 12 (Responsible Consumption and Production) 13 (Climate Action) and 17 (Partnership for the Goals) and Saudi Vision 2030.

Othman A. Ibrahim, Rawabi Holding Vice Chairman and Group CEO of Rawabi Holding added: “Sustainability at Rawabi Holding Group is a business strategy, and as leaders in the energy, industrial, contracting, and real estate sectors, sustainability has always been one of the main factors in our decision-making process.

Having led one of the largest Sukuk syndicates in Saudi Arabia last year (SAR 7.175 billion) we aim to expand our fundraising and investments into developing innovative Sustainable Finance products and projects.

Our partnership with World Wide Generation further amplifies our commitment to sustainable practices and propels us towards a future where assets are designed, built, and operated with a focus on both environmental responsibility and human well-being. Rawabi Holding is on a mission to create value and impact across industries through technical excellence, empowered people, and progressive thinking.”

Manjula Lee, CEO and Founder of World Wide Generation said: “WWG has been cultivating our partnership with Rawabi Holding for the past three years and we are so excited to see what was originally an Oil and Gas company pivoting and transitioning quickly to make all of its businesses across energy, industrial, construction, shipping and offshore services along with investments both sustainable and renewable, and leading their subsidiaries, partners, clients and other international peers to follow suit.

Rawabi’s corporate slogan being ‘powered by people’, I have now witnessed first-hand that they really practice what they preach, with being one of the first Saudi companies to hire females, bringing more diversity and gender parity to their board and c-suites and incredible culture bringing consciousness and true sustainable development to people, profit and planet.

I am beyond thrilled to be entering into a JV with Rawabi, a strong and successful Saudi mission and values aligned partner for our expansion in the KSA and MENA region, and together we invite our other Anchor Tenant members of the G17Eco platform to join us”.

Abdulmalek Rashid, Director of Asset Management and Fintech Development at the Ministry of Investment, Saudi Arabia said:  “World Wide Generation was introduced to MISA and other KSA Ministries as part of the Great Futures campaign in May 2024 as a leading sustainability fintech and we are so delighted to see that by September WWG has already managed to raise significant investment and partner with a multi-industry and multinational class leading conglomerate such as Rawabi Holding.

This partnership is a sheer testament to KSA’s commitment to Vision 2030 and the speed at which we make strategic decisions and progress towards its delivery.

We are delighted to welcome WWG in setting up its headquarters in KSA with such an important mission and they have MISA’s full commitment to making their soft landing and growth in the Kingdom and the GCC a great success”

Peter Ashby, Country Director and Deputy Trade Commissioner for MEAP at the British Embassy Riyadh said: “I’m thrilled to witness the progress of WWG in Saudi Arabia following GREAT Futures with this exciting JV with Rawabi Holding.

The UK is focused on developing breakthrough companies and solutions especially in the realms of sustainability and fintech, and WWG is one such company the U.K. Government selected as part of our Global Entrepreneur Programme since 2017.

The UK and Saudi relationship is incredibly important and both nations are committed to advancing the sustainability agenda. It’s truly inspiring to see UK and Saudi companies collaborating by bringing their IP, offerings and local knowledge together, as a force for good.”