Middle East HR and IT learning solutions giant Humansoft has laid out ambitious global expansion plans at this year’s Gitex.
Middle East HR and IT learning solutions giant Humansoft has laid out ambitious global expansion plans at this year’s Gitex. Fahad Alothman, founder, chairman and chief executive of the 1000-strong company now wants to replicate Humansoft’s success story in the Middle East on a global stage. “Humansoft is definitely a regional company at present,” Alothman says. “However, from day one we have been working towards the vision of becoming a global company. This is not just an ambition for us, it is a necessity as the world itself becomes more connected and interlinked.” “Those that do not adopt such a mindset will find business more difficult in the future. We aspire in five years from now to be listed on NASDAQ, or a similar exchange — that is the level of our ambition. One of the reasons we floated the company on the Kuwait Stock Exchange was to improve the access to capital that will fund this expansion. We are definitely considering acquisitions as a potential avenue for expansion,” explains Alothman. Humansoft has carved out an impressive reputation in the Middle East as a leader in its field. Working with public and private organisations, Humansoft is helping clients develop their HR capabilities while also playing a key role in the development of IT industries in the Arab region through its education and learning services. With Humansoft now posting annual revenues of approximately US$36 million, and with seven subsidiaries inside the group, the company has built a strong foundation for future growth. “What we’re trying to do is channel the capital that is available in this region into meaningful projects that help the development of the IT and service economies in the Middle East,” Alothman says. “The region needs to move into these areas and invest in sectors that create jobs and opportunities for the local population. We need to create an economy based on a greater level of value-add. In this part of the world, some 70% of the population is under the age of 21 so there is a growing need for education and job creations,” he adds. Humansoft is committed to raising awareness of the potential and opportunities that exist within the Middle East market, acting as an intermediary between those prepared to make capital investment in the region and those coming up with the new business ideas. “Globalisation is a tremendous factor in this evolution,” Alothman notes. “For any region in the world to survive and prosper, you have to be part of this process. Before, you could implement protectionist policies and isolate a specific country to a certain extent. Those days are now gone and companies in this part of the world need to be as good as those from any other region. Development is key because if you only consume, expertise and talent does not get developed and inward investment can suffer.”