Z-Corp wins ‘Best Social Economic Development Company’ award
International Finance Magazine Awards recognised Z-Corp for offering the “ultimate tribute to the spirit of entrepreneurship” and for setting “an example, not only in Oman, but worldwide”
MUSCAT: The Zubair Corporation (Z-Corp) has the won the ‘Best Social Economic Development Company’ category in Oman in International Finance Magazine (IFM) Awards.
In line with its CSR strategy the Zubair Corporation (Z-Corp) has been making valuable contribution to the socio-economic development of Oman. Understanding that it is important for companies to create shared value by playing a role in advancing socio-economic development in the country, ZCorp has been providing employment opportunities, skills development and training interventions to not just our employees but the larger community. Besides it has been investing in social service activities in the society.
Whether it is creating public libraries, promoting road safety, supporting health, sport and educational programmes, Z-Corp has been at the forefront of many community based activities.
Z-Corp has undertaken a number of socially impactful initiatives and the objective of the initiative are carried out by Social Advisory Committee, Collaboration Team and Zubair Small Enterprises Centre (Zubair SEC).
Z-Corp won the IFM Awards for its initiative Zubair SEC, which has been promoting a culture of entrepreneurship in Oman. IFM Awards recognised Z-Corp for offering the “ultimate tribute to the spirit of entrepreneurship” and for setting “an example, not only in Oman, but worldwide”.
The IFM Awards celebrates excellence and honours organisations in the international finance industry that make a significant difference and add value. The IFM Award recognises those who contribute to raising the bar in the financial industry through activities of note. These include path-breaking initiatives in corporate social responsibility or charitable activities, better corporate governance and other achievements that impact the global finance community.
Khalid bin Mohammed Al Zubair, managing director, The Zubair Corporation said, “We are delighted to win this prestigious international award. This award is recognition for the company as well as the Sultanate of Oman. We are proud to state that creating economic and social value is at the heart of Z-Corp’s activities. Our aspiration is to bring about sustainable and net economic benefit to our country. Corporate Social Responsibility (CSR) is a significant part of Z-Corp’s commitment to society. Creating economic and social value is at the heart of The Zubair Corporation’s activities. Z-Corp has undertaken several socially impactful initiatives. Our policies, practices and initiatives have had a positive impact on social and economic welfare of the country.”
Being a key player in the sustainable socio-economic development of Oman, Z-Corp recognised the importance of investing in one of the most strategic and vital sectors of all economies – the SMEs. Understanding that a better equipped SME sector would contribute to a healthier economy, Z-Corp established Zubair Small Enterprises Centre (Zubair SEC) in June 2013. The aim of the centre primarily has been to develop the culture of entrepreneurship in Oman. It is today a standalone economic development institution that has created income as well as assets for people and communities. The centre has helped several young Omanis launch their own businesses and establishment.
According to IFM citation, “The Zubair SEC has to be the biggest contribution of Zubair Corporation to the people and economy of the Sultanate of Oman. Zubair SEC, with the aim of seeding and cultivating a culture of entrepreneurship in Oman, is highly commendable. To achieve its goal, Zubair SEC built a comprehensive support ecosystem that includes providing business development assistance, organising workshops, specialist advisory support, networking opportunities, serviced office space and partnerships. By lending a hand, sharing expertise, inspiring and guiding other entrepreneurs through the Zubair SEC, The Zubair Corporation has offered the ultimate tribute to the spirit of entrepreneurship with this contribution to sustainable.”
Since its establishment, the Zubair SEC has gone beyond the traditional notion of being a ‘business incubator’ towards becoming a holistic ecosystem providing support and motivation for the talented ambitious young Omanis. It has also moved from being a mere mentor to a partner, collaborator and team mate. This social responsibility initiative has brought about noticeable improvement in the businesses launched by young Omanis entrepreneurs.
On to its fourth edition of Zubair SEC’s Direct Support Programme provides support and mentorship to high-potential novice entrepreneurs and young business owners. Zubair SEC recently launched a new initiative, Tajseer, a business networking platform aimed at connecting small business owners and large companies. Zubair SEC organises the ‘Tajribati’ series every month which serves as a unique platform to connect business experts with start-up owners and new entrepreneurs to exchange views, discuss common challenges and share best practices. In 2013, The Zubair Corporation, formed a dedicated Social Advisory Committee, to help provide a broad-based approach to enhance social well-being and contribute to community building. The Social Advisory Committee, consisting of eminent personalities from the Omani society, choose and suggest social responsibility projects to be undertaken by The Zubair Corporation in collaboration with them.
The Social Advisory Committee consists of a group of talented and committed Omanis who are active in their local communities, especially in the field of volunteer work and community-based initiatives. The committee functions under the supervision of The Zubair Corporation and undertakes social responsibility projects to serve the Omani society in a meaningful manner.
The Social Advisory Committee volunteer committee members have started and supported unique projects such as the ‘Iqra’ libraries and ‘For Them’ an initiative for parents with autistic children. These have received very positive response from the members of the society.
As part of the ‘Iqra’ initiative launched by the Social Advisory Committee, The Zubair Corporation has opened libraries across the country including, three each in Nizwa, Rustaq, Ibra and Ibri hospitals, another six in Royal Hospital in Muscat and some libraries at the National Cardiology Centre at the Royal Hospital in Muscat and Samail Hospital.
Patients, visitors and bystanders now make use of the waiting time in these hospitals by indulging in reading. To recognise the writing talents of well-known and aspiring local authors, Z-Corp has stocked all its ‘Iqra’ libraries with books written by Omani writers.
Designed to train and empower parents of autistic children with best practices, The Zubair Corporation’s Social Advisory Committee has launched the training programme titled ‘For Them’. The training programme “For Them” aimed at helping parents with autistic children have been organised in Muscat, Sohar, Nizwa, Salalah and Mudhaibi.
The members of the Social Advisory Committee often meet to review achievements as well as discuss new initiatives that they plan to undertake. Members of Social Advisory Committee, are thankful to The Zubair Corporation for making them part of this project that contributes to the community. They have been encouraged to actively contribute their skills, time and expertise in implementing projects that will benefit the communities in which they live and work. The Zubair Corporation’s ‘collaboration team’ comprises a group of employees of The Zubair Corporation who participate in community initiatives which are planned and executed by them. The ‘Collaboration Team’ undertakes projects and highlights The Zubair Corporation’s strategy to bring focus to its continued and evolving socially relevant work as a responsible corporate house with intent to make a positive difference in the society.
The Zubair Corporation’s ‘Collaboration Team’ builds its pro- grammes around factors such as employee engagement, community involvement and corporate giving. The main objective is to touch and improve upon the lives of the communities we live in.
The ‘collaboration team’ organises special events to remain connected with the society. Among the programmes it has undertaken, the ‘collaboration team’ organised an open sports day event at the Omar bin Al Khattab Institute for the Blind based in Mawaleh. To emphasise the philosophy of giving to the society, the ‘collaboration team’ organised a community event at the Al Wafa Rehabilitation Centre for Disabled Children in Sohar. Al Wafa centres with branches across Oman aims to rehabilitate children who have some form of mental, auditory, physical, or visual disability.
As part of its initiatives to reach out to the local community during the spiritually uplifting Ramadan month, the ‘Collaboration Team’ organised a Iftar and dinner reception for senior citizens in Al Sharqiyah, Al Batinah South and Al Dakhiliyah governorates.
The Iftar and dinner reception was especially organised to recognise that senior citizens are a significant part of our society and that they are the fountains of the great values and traditions on which this nation is built. Ramadan being a time for reflection, spiritual renewal and peace, remembering the senior citizens was an important act for the collaboration team.