AFKAR Ventures, a new energy sector-focused venture that prides itself as a “first mover in energy tech” in MENA, was launched earlier last week. Co-founded by a team comprising six globally experienced members, AFKAR primarily targets areas such as energy, FinTech, engineering, and management.
Specifically, the new venture aims to pave the way for a sustainable and independent future for the local and regional energy tech sectors across MENA.
AFKAR has already taken a series of novel and notable approaches to solving age-old issues in technology and energy. The end goal here is to transform MENA from being a net importer of technology to a technology creator.
“AFKAR Ventures three main pillars are to Seed and scale startups, accelerate the expansion of established companies, and grow the returns of institutions via fit-for-purpose solutions. AFKAR is not a conventional energy services or product manufacturing company, nor is it just an investment powerhouse. It will establish some unique business models combining both” says Adnan Ghabris, Chairman of AFKAR.
AFKAR was founded by Adnan Ghabris (Chairman), Maen Razouqi (Executive Director), Zied Ben Hamad (Executive Director), Ghassan Mirdad (Director), Raja Al Mazrouei (Director), Mazin Al Lamki (Director). All six of them collectively bring along a robust know-how of the nitty-gritty of the energy sector.