From charity to change: Why I believe in impact investing

For decades, the Gulf has been focused on growth. We have been building economies, creating jobs and laying the foundations for long-term prosperity. In that context, successful investments have been measured largely by financial return. Now, as the region enters a new chapter, I believe we have an opportunity to ask a broader question: not just how we create wealth, but how we use it to create lasting impact. What first drew me to impact investing was a simple idea: that investment can be a tool for solving problems.

Recent events across our region have only strengthened my conviction that social resilience matters just as much as economic resilience. We need to support organisations that are helping communities become more resilient, particularly in areas such as health, education, employment and environmental sustainability. Across the Middle East, our communities face complex and interconnected challenges that no single institution can solve alone. At the same time, a new generation of entrepreneurs is building businesses designed to address them.

These founders often understand the problems better than anyone else because they live them every day. Yet many still lack the capital, mentorship and networks needed to turn promising ideas into solutions that can reach millions. That is why I believe impact investing has such an important role to play in MENA. I remain a strong believer in philanthropy and committed to our grant giving through Meem Foundation. Simultaneously, impact investing enables us to work alongside organisations as partners in achieving lasting change.
Impact investment is still in its infancy in MENA and if it is to succeed, it cannot be a concept imported wholesale from overseas. It must be shaped by people who understand MENA’s markets, communities and complexities.

They understand political uncertainty, inflation, currency fluctuations and most importantly, the challenges entrepreneurs face because they have lived them themselves. That regional understanding and cultural competency matters. It influences how investments are evaluated, how risks are managed and how support is provided to entrepreneurs facing circumstances that may be unfamiliar to international investors. I was also attracted by Anara’s focus on sectors where the need is greatest and the potential for impact is significant, including learning, climate and wellbeing. These are areas where investment can generate both meaningful social outcomes and sustainable long-term value. While Anara is a new venture, it has been spun out of Alfanar Venture Philanthropy, an organisation that has spent more than two decades supporting social enterprises across the region.

During that time, Alfanar has helped hundreds of ventures create impact for hundreds of thousands of beneficiaries. That heritage brings both credibility and deep experience in identifying and supporting mission-driven businesses. Anara’s founding team are supported by an advisory and investment committee made up of some of the region’s most respected business and social impact leaders, including Fadi Ghandour, Lubna Olayan, and Maysa Jalbout. For me, that blend of entrepreneurial drive, institutional experience, and understanding of impact is particularly compelling.

Building an impact-investing ecosystem in MENA will require not only capital, but also mentorship, networks and experience. The calibre of people involved reflects a shared belief that this sector can play an important role in shaping the region’s future. As someone deeply committed to supporting women entrepreneurs, I pay close attention to who is sitting around the investment table because representation influences decisions, opportunities and outcomes. Anara may not position itself as a formal gender-lens fund, but gender equity is embedded throughout its organisation. Women account for one third of its leadership and governance and advisory structures and the fund has demonstrated a commitment to backing talented founders, including women building innovative companies across the region.

For me, these signals matter. They reflect a broader understanding that diversity strengthens decision-making and helps ensure that opportunities are being identified where others may overlook them.

Learning curve

I certainly was not an expert when I first encountered impact investing. Like many people in the region, I had to spend time reading, learning, and questioning some of my assumptions about how change is created and funded. That experience taught me that one of the biggest barriers to growth is not a lack of capital but a lack of awareness. Many people assume that grants and traditional philanthropy are the only routes available to support social change. Too often, the conversation stops before people have had the opportunity to explore what is possible.

Impact investing does not need to replace philanthropy, but it deserves a place in the conversation. The Middle East is full of entrepreneurs solving some of society’s toughest challenges. They are building businesses that create jobs, improve health outcomes, strengthen communities and help address environmental pressures. If we are serious about the future of our region, we should think carefully about how we support them, not only through grants but through patient, purposeful capital. We have spent decades creating prosperity across the Gulf and the wider region. The next chapter should be about putting that prosperity to work, supporting the entrepreneurs, innovators and problem-solvers tackling our most pressing challenges. Impact investing will not solve every problem. But if we want to create a more resilient, inclusive and sustainable future for MENA, it deserves a more prominent role in the region’s development story.