Our food vertical is made up of a portfolio of investments in large, branded categories across the MENA region.
Our retail vertical is headed by Panda Retail, the largest modern grocery chain in Saudi Arabia with a total of 205 stores (including 4 stores in Egypt), serving more than 100 million customers annually.
Savola transformed our flagship CSR program Savola World, from a department into a standalone private foundation, called Savola World Foundation. The new non-profit organization will extend the Group’s Sustainability and CSR programs, under the supervision of the Ministry of Human Resources and Social Development.
In line with the Kingdom’s 2030 Vision and the Company’s active social engagement strategy, Savola sponsored and supported Saudi productive families through a special community event at Savola Tower. The 3 day event held under the slogan ‘One Family’, brought together Savola employees with productive families from the community, offering them a great platform to sell their homemade products and interact directly with customers in a lively and positive environment.
A testament to our commitment to creating a positive, diverse and engaging workplace for all our employees, Savola was ranked 17th in this year’s ranking of Saudi Arabia’s Best Workplaces, published by leading global workplace culture authority Great Place to Work® Middle East.
PandaClick, a new ecommerce platform for grocery purchases and deliveries from Panda, was launched to provide customers across the Kingdom with a quick and convenient way to shop for their favorite brands with just a few clicks, at home or on the move.
As part of our multi-faceted pledge to protect and serve our community, Savola launched the widespread ‘Our commitment is our duty’ national campaign. The successful campaign engaged hundreds of thousands of individuals across a wide range of social platforms, to help reduce the impact of COVID-19 on the people of the Kingdom.
A leading business and financial publication, Forbes Middle East Magazine, ranked Savola 14th in Saudi Arabia and 39th in the Middle East based on market value, sales, assets and profits in its annual list of Top 100 companies in the region.
As part of the Company’s efforts to attract and retain key talent and to motivate staff to strengthen their performance, Savola bought back 341,675 of its shares for more than SAR 16.5 million (USD 4.4 million). The transaction forms the first tranche of the Company’s long-term incentive program (LTIP) for its employees. It has also reallocated shares to eligible employees, according to the program’s approved policy and standards.
Mr. Waleed Khalid Fatani was named Savola’s new Chief Executive Officer, effective 1 January 2021, following the resignation of Eng. Anees Ahmed Moumina. Savola’s Board of Directors extended its sincere thanks and appreciation to Eng. Anees Ahmed Moumina for his commitment, dedication and hard work exerted during his office term, which ended on 31 December 2020. The Board of Directors welcomes Mr. Waleed Khalid Fatani and wishes him good luck in his new role.
Savola launched a new investment program to co-invest in disruptive technologies in the food and retail technology spaces with best-in-class investment partners. It seeks smart acquisitions that serve this purpose to achieve inorganic growth in order to support its core business activities. As a part of this program, Savola aims to capitalize on rapidly changing consumer trends regionally and globally over the coming 3 to 5 years.
We prioritized the physical health and mental wellbeing of our 24,000+ employees through a wide range of actions and investments, raising awareness and ensuring alignment with all government regulations and requirements, whilst empowering them to ensure that our Group and operating companies would remain operational and capable of fulfilling our promises to our customers, community and nation.
We took immediate action to engage and support our customers, accelerating our digital transformation and automation, bolstering our logistics and distribution networks and launching Panda’s new eCommerce platform.
We did not stop investing in our turnaround or the strategy that will shape the future of our Group, delivering solid returns for our shareholders while launching a venture capital program for disruptive investments in food and retail to continue to enhance our portfolio and unlock avenues for future growth.
We doubled down on our position at the heart of our communities and our critical food security role across our markets, ensuring supply of goods during the darkest days of the pandemic while reinforcing our long-term commitment to sustainable social impact by establishing Savola World Foundation.
The strength of our strategy and pride of our people were fundamental to the Company’s capacity to overcome obstacles and continue to create value for our diverse stakeholder community. Bolstered by robust risk management and corporate governance at every level of the organization, Savola capitalized on the opportunities that arose in this challenging environment whilst establishing a solid foundation for sustained growth and profitability in the years ahead.
One of the largest food and retail players in the region with an annual turnover of over SAR 22 billion
Ranked 14th in Saudi Arabia and 39th in the Middle East in Forbes Middle East’s annual list of Top 100 companies in the region
#1 basic food business in MENA, Savola has market leading positions and brands across consumer staples and value-added ranges, such as edible oils, sugar, pasta and frozen food
#1 grocery retailer in Saudi Arabia, Panda has strong brand equity and over 28% market share in the attractive and under-penetrated modern retail space of the GCC’s largest market
Largest shareholder in 2 leading Saudi consumer brands, Almarai and Herfy, as well as popular frozen food brand, Al Kabeer
Dominant retail footprint with 200+ Panda and HyperPanda stores in 40+ cities across the Kingdom, with 100+ million annual transactions and the largest logistics network in Saudi Arabia
Direct manufacturing and distribution strength in more than 8 countries, with 14 facilities serving a combined population of more than 400 million
Attractive exposure to large and growing population base with favorable demographics - more than 50% below the age of 35 years.
Extensive consumer, market and brand knowledge, successfully leveraged to launch, grow and maintain market- leading positions and products (e.g. Afia, Al Osra, etc.)
Continuous customer-centric innovation and product development based on deep consumer outreach to capitalize on strategic opportunities to launch and scale new businesses in the rapidly maturing and evolving consumer space in MENA and beyond
Unique investment holding business model that allows for strategic investments and value creation in the MENA consumer food and retail space
Experienced leadership team with clear mandate to deploy and/or reallocate capital to enhance shareholder returns through investments in consumer segments with long-term growth potential
40+ year track record of business growth, active capital reallocation and long-term investment horizon
Actively exploring multiple venues of investments in food and retail to help drive sustainable growth for the Group for years to come
By converting the challenges of 2020 into opportunities, we have not only successfully navigated a complex environment but also charted a course toward continued growth and success.
Savola has not only stood firm in the face of this adversity, but succeeded in achieving remarkable results.
Bachelor’s degree of Economics, University of Virginia, USA Certified Financial Analyst (CFA)
Bachelor’s degree of Economics, King Saud University, Saudi Arabia
Ph.D. in Business Administration and International Finance, George Washington University, USA
Qualifications: Bachelor’s degree of Accounting, Kuwait University
Member of Kuwait Association of Accountants and Auditors
Member of Kuwait Economic Society
Advanced Management and Leadership Program, Oxford University, UK
Bachelor’s degree in Business Administration, King Abdulaziz University, Saudia Arabia with First Degree Honors
Qualifications: Bachelor’s degree in Finance and Economics, Babson College, USA
Bachelor of Science in Civil Engineering with Honors, The George Washington University, USA
Associate of the Institute of Cost and Management Accountants
Fellow of the Institute of Taxation Management
Bachelor’s degree of Finance, Karachi University, Pakistan
Professional qualifications in Chartered Accountancy
Fellow Member of the Institute of Chartered Accountants of Pakistan
Associate Member of the Institute of Chartered Accountants of England and Wales
Bachelor’s degree and MBA, Sudan University of Science and Technology, Sudan
Certified Corporate Governance, Board and Committees Secretary
Bachelor’s degree in Industrial and Manufacturing Systems Engineering, Lehigh University, USA
Master’s degree in Business Information Technology, DePaul University, USA
Licensed Certified Public Accountant, USA
Chartered Global Management Accountant
Association of International and Professional Accountants
Bachelor’s degree of Science, Industrial Engineering, King Fahad University of Petroleum and Minerals (KFUPM), Saudi Arabia
Bachelor’s degree in Marketing, King Abdulaziz University, Saudi Arabia
Our values underpin everything we do, they are a blueprint for concrete actions we take as individuals, as a team and as a company, every day. Since the Group was founded in 1979, this is how we do business:
Our Strategy and Business Model
Savola is a strategic investment holding company with a thematic investment program focused on the food and retail sectors, with the aim of creating value by enabling and accelerating growth levers in the underlying portfolio to achieve scale and profitability.DOWNLOAD PDF