The Middle East has been a commercial hub since time immemorial, presenting vast opportunities to businesses seeking to expand their reach through international trade. The region’s abundance of natural resources has enabled many MENA countries to develop their economies and infrastructure at a lightning-fast pace, in turn driving growth in other industries.
In recent years, many MENA countries have seen a significant uptick in their e-commerce, real estate, and luxury goods industries, creating huge opportunities for forward-looking business leaders capable of staying ahead of the curve. From pioneers of the automotive industry to e-commerce innovators, we look at four Middle Eastern entrepreneurs and their astounding achievements in the business world.
1. Ralph R. Debbas – Founder and CEO of W Motors
In an era of unparalleled automotive luxury and innovation, Ralph R. Debbas has shaped the landscape of Middle Eastern hypercars, leaving an indelible mark on the world stage.
Born in Lebanon in 1987, Debbas always had a passion for cars, having made history as Coventry University’s first Arab graduate of automotive design. Debbas commenced his career with stints at Aston Martin and Land Rover, laying the foundations for his extraordinary entrepreneurial journey.
Debbas founded W Motors in 2012, establishing the Middle East’s first car manufacturer. Driven by a lifelong commitment to innovation, design, and the relentless pursuit of excellence, Debbas has pioneered the industry, from the groundbreaking Fenyr SuperSport to the unapologetically ostentatious Lykan HyperSport. Priced at $3.4 million, the Lykan HyperSport not only made history as the world’s most expensive car, but also as a symbol of Middle Eastern automotive prowess.
2. Ronaldo Mouchawar – Cofounder and Former CEO of Souq.com
A pioneer of Middle Eastern e-commerce, Ronaldo Mouchawar is best known as the founder of Souq.com, the Arab world’s largest ecommerce retailer. Today, the platform boasts more than 8.4 million products, with operations across Egypt, Saudi Arabia, and the United Arab Emirates.
Born in Aleppo, Syria, Mouchawar attended Northeastern University in Boston, Massachusetts, graduating with a bachelor’s degree in electrical and computer engineering. He worked for several Boston-based engineering firms before joining Maktoob, a company subsequently acquired by Yahoo.
In 2005, Mouchawar founded the Souq.com consumer-to-consumer website as part of the Maktoob Group. He credits his father, who worked as a merchant, with providing inspiration for the platform’s name. Capitalizing on a young population with a highly disposable income, Souq.com was further bolstered by the smartphone boom, breaking away from Maktoob in 2009.
In 2011, under Mouchawar’s stewardship, the company completed a daring pivot, transitioning to a business-to-consumer model, providing a platform for merchants to reach customers. The move proved to be a resounding success. By February 2016, Souq.com had acquired unicorn status, making history as the Arab world’s first startup with a $1 billion plus valuation.
Souq.com was bought out by Amazon in 2017 for an undisclosed amount. Today, Mouchawar serves as the vice president of Amazon MENA.
3. Loulou Khazen Baz – Founder and CEO of Nabbesh.com
Loulou Khazen Baz is the founder of Nabbesh.com, the Middle East’s first online work marketplace, a company she continues to serve as CEO today.
Connecting a wide variety of different organizations with high-quality freelance talent across the MENA region, Nabbesh.com was acquired by Ureed.com with the goal of accelerating growth of the digital hiring industry.
Nabbesh.com has supported more 5,000 corporate clients to date, connecting them with the talent needed to drive their businesses forward while simultaneously creating job opportunities and driving economic growth in local communities. Boasting access to a 120,000-strong community of talented freelancers covering a myriad of different specialties, Nabbesh.com helps companies to find, manage, and securely pay handpicked talent from the world’s emerging markets.
4. Kamal Jahid – Cofounder of Meqnes
Kamal Jahid is a serial entrepreneur, having cofounded the luxury pocket square retailer Glamorous Pochette, as well as EastVIPS.com, a premier nightlife booking site that provides access to some of Krakow and Warsaw’s most exclusive clubs. However, the early beginnings of Jahid’s career were firmly rooted in his luxury accessory company, Meqnes, and furthering his goal of increasing exposure to African design and prints on the international stage.
Having grown up in Morocco, Jahid studied business economics, earning a master’s degree. After graduating, he moved to Berlin, where he worked in marketing. It was during a long train ride to Warsaw—a business trip he made regularly—that Jahid read Tim Ferriss’ New York Times bestseller Four Hour Work Week, a book that changed his life.
Four Hour Work Week explores the power of online businesses to grant financial freedom, enabling ordinary people to pursue their entrepreneurial dreams. Kamal Jahid credits the book with giving him the impetus to design the life he wanted, inspiring him to quit his job, rent a small studio in Warsaw, and start working on his business ideas, which predominantly centered around the e-commerce space.
Jahid and his Meqnes cofounder, David Liebers, raised $50,000 in startup funding through Kickstarter in the space of just one month. Today, their luxury bag brand includes bags, wallets, and laptop cases, each item designed in-house with Moroccan inspiration and crafted with the finest Italian leather.