UAE. Arif Naqvi, Founder and Group Chief Executive of The Abraaj Group, has received the 2013 Oslo Business for Peace Award at a ceremony in the Oslo City Hall, Norway. Mr Naqvi is the first Chief Executive from the United Arab Emirates and from within the global private equity industry to receive this award.
The award was presented to Mr Naqvi by the Governing Mayor of Oslo, Mr Stian Berger Røsland, and the Chairman of the Business for Peace Foundation, Mr Per L Saxegaard.
The Oslo Business for Peace Award is one of the highest forms of recognition given to global business leaders for fostering peace and stability through creating shared values between business and society.
The search for honorees is a joint effort undertaken between the International Chamber of Commerce (ICC), the United Nations Development Program (UNDP) and the Oslo-based Business for Peace Foundation. The 2013 Award Committee consists of Nobel Peace or Economics Prize Laureates: Professor Muhammad Yunus, winner of the Nobel prize in Peace in 2006; and Professor Michael A. Spence, winner of the Nobel prize in economics in 2001.
Mr Naqvi has been chosen as an honoree because of his work in promoting a stakeholder culture and his strong conviction that the relationship between business and society - just like the relationship between business and finance - should be both mutually beneficial and value accretive.
Commenting on receiving the award, Mr Naqvi said: “It is an honor to have been chosen as a recipient of this award. Previous honorees, as well as this year’s recipients, include global leaders in responsible, sustainable and ethical business practices and I am humbled to be amongst their company and to share in their achievements.
“We all have a duty to conduct and manage our businesses to the highest possible standards. My colleagues and I have always believed that a sustainable investment approach focusing on stakeholders as well as shareholders can create social benefits alongside strong financial returns. Engaging with communities is a core part of our approach when investing in growth markets as many outcomes depend on collaboration between multiple stakeholders - specifically business, government and civil society.”
For more information on The Business for Peace Foundation, please visit www.businessforpeace.no
THE ABRAAJ GROUP
The Abraaj Group is a leading investor operating in the growth markets of Asia, Middle East and North Africa, Turkey and Central Asia, Sub-Saharan Africa and Latin America.
The Group currently manages US$ 7.5 billion across 25 sector and country-specific Funds encompassing private equity (majority and significant minority investments with ticket sizes of between US$ 10 million to US$ 100 million) and real estate (primarily yield-generating) investments.
The Abraaj Group is committed to the highest environmental, stakeholder engagement and corporate governance standards and is a signatory of the UN-backed Principles for Responsible Investment and the United Nations Global Compact. Arif Naqvi, Abraaj’s Founder and Group Chief Executive, was appointed to the United Nations Global Compact Board by UN Secretary General Ban Ki-moon in 2012.
In May, Mr. Naqvi was the first Chief Executive from the UAE and the global private equity industry to be awarded the 2013 Oslo Business for Peace Award, one of the highest forms of recognition given to global business leaders for fostering peace and stability through creating shared values between business and society. In 2008, Mr. Naqvi and his family established the Aman Foundation, a social sector enterprise in Pakistan, which supports sustainable development in healthcare, nutrition and education.
Over and above its own proprietary initiatives in the field of education for employment and entrepreneurship, The Abraaj Group also supports best in class organizations focused on job creation and community engagement. The Group allocates 5 per cent of its net management fee and 5 days of volunteer time per employee to these initiatives and has over the last 3 years contributed over 8,000 volunteering hours.