News

ABANA ranked 18th in the 100 fast growing companies in Saudi Arabia

1/27/2009

The first annual list of Saudi Arabia’s 100 fastest growing emerging businesses, released today at an Awards Ceremony at the 3rd Annual Global Competitiveness Forum in Riyadh, reveals a diverse array of robust companies.  They are growing fast and expect to accelerate the pace, expanding nationally and throughout the Middle East.  Saudi Fast Growth 100 winners all have a track record of extraordinary revenue growth, while accounting for the creation of a significant number of new jobs.

For the inaugural 2009 list, 45 companies qualified for the Saudi Fast Growth 100, 27 for the Start Up list, and 23 for the companies to Watch.

ABANA is ranked 18th among the top 100 Fast Growing Companies in Saudi Arabia.   This ranking underscores ABANA’s strong market presence and solid position as the preferred partner of the banking and telecommunication sectors. 

“We are very happy to be part of this exciting and significant event in Saudi Arabia, and we are proud of our accomplishments in the last five years.  The ranking signifies that ABANA’s vision is being realized.  We will continue to work harder for our customers to ensure that their requirements will be met, hence ascertaining our continuous business growth,” said Mr. Abdullah M. Jebreen, CEO of ABANA.

The Saudi Fast Growth 100 is an annual ranking of the fastest-growing emerging companies in the Kingdom of Saudi Arabia, recognizing the new generation of companies that are creating jobs and spurring innovation in the Kingdom. In addition, it recognizes start-up ventures, women-owned companies and enterprises owned by young entrepreneurs.

A company's rank on the Saudi Fast Growth 100 list is calculated based on the percentage of increase in annual revenues or turnover between 2003 and 2007. Companies established after 2003 can qualify for the Start-Up List.

The Saudi Fast Growth 100 was launched by the Saudi Arabian General Investment Authority's (SAGIA) National Competitiveness Center with joint founding partners Al Watan newspaper and Next Economics.