Latest news with #Mada
Time of India
5 days ago
- Business
- Time of India
From 17% to 36%: Female employment in Saudi Arabia surges past Vision 2030 target
Saudi Arabia's labour reforms under Vision 2030 have lifted women's workforce participation from 17% in 2017 to over 35% in 2024 and counting/Representative Image TL;DR: Female labour-force participation jumped from ~17% in 2015 to 36.2% in Q3 2024, well above Vision 2030's initial 30% target . 'Mada' digital payments saw e-commerce sales grow 25.8% to SAR 197.4 billion (USD 52.6 billion) in 2024, driving consumer convenience and financial inclusion . Women now lead 45% of SMEs, supported by legal reforms like equal pay, anti-harassment protections, and expanded maternity/paternity leave . Despite progress, gaps remain in board-level representation, conservative social norms, and wage disparities . Veiled Social Transformation Beneath Mega-Projects While NEOM, Qiddiya, and the Red Sea Project dominate headlines, a powerful shift is taking hold within Saudi society: women are entering previously closed career pathways, using digital tools, and driving small businesses—symbolising deep-rooted transformation. Surpassing Targets: Saudi Women in the Workforce GASTAT reports Saudi female labour-force participation at 36.2% in Q3 2024, up from ~17% when Vision 2030 launched. Participation by young women (15–24) reached 18.0%. This rise has exceeded the 30% participation goal achieved ahead of 2030, prompting the government to aim for 40% by 2030 according to Finance Minister Al‑Jadaan. Young women's workforce entry continues its upward trend, reflecting changing societal norms. Private Sector Inclusion & Female Entrepreneurship Nearly 45% of SMEs in Saudi are led by women, per Minister Al‑Jadaan. Legal reforms, including wage parity, anti-harassment protections, expanded leave, and eased guardianship rules, have laid the groundwork for sustainable participation . Payment Infrastructure: Digital Fluency & Financial Access The 'Mada' payments network processed SAR 197.4 billion (USD 52.6 billion) in e-commerce transactions in 2024, a 25.8% increase from 2023. With 47.7 million cards issued and 8.6 billion NFC transactions, the system has enabled contactless payments and reduced cash dependency. This financial modernization spanning POS, ATMs, mobile apps is essential in supporting women's economic autonomy . Education & Training: The Enablers of Change Saudi women now constitute over 52% of university enrolment, often outpacing men. Vocational and technical training programs accessible to women including through institutions like TVTC and HRDF's Doroob equip Saudis with practical workplace skills. Persistent Challenges Amid Progress Despite improvements, women remain underrepresented in executive leadership and board positions. Social attitudes, particularly over guardianship, household roles, and work-life balance continue to impede equal contribution . Wage disparities, though legally addressed, persist especially in private-sector compensation . Economic Impacts: Growth, Diversification, Stability Saudi non-oil GDP now accounts for 52% of total output. Citizen unemployment declined to 7.1% (Q2 2024), with female citizen unemployment dropping to 12.8%. Increased female earnings are boosting household incomes and consumption, reinforcing macroeconomic stability. Verdict: Society in Transition Underneath the grandeur of Vision 2030's flagship projects lies a societal evolution powered by women's advancement and digital modernization. Elevated labour participation, fintech adoption, entrepreneurship, and education reflect a maturing knowledge-based economy. Yet, for this change to be enduring, greater representation in leadership, ongoing workplace protections, and cultural integration remain crucial. If current momentum continues, Saudi Arabia might not only meet but surpass its social goals cementing these reforms as legacy-defining, far more profound than physical megaprojects.
New Straits Times
14-07-2025
- Climate
- New Straits Times
'Climate' of fear grips rice bowl state
ALOR STAR: Ramli Wahab admits he knows little about climate change, but he is certain that weather patterns have changed. "The heat is harsher. The rain comes all at once. It ruined our schedule," the farmer, 81, said. In his northern Kedah village, planting schedules were thrown into disarray. Floods in September wiped out 1,276 metric tonnes of padi across 232ha, affecting 93 farmers and causing losses of about RM2.3 million. "Thousands of ringgit gone, just like that," Ramli said, recalling how 12 relong (3.1ha) of his padi land was inundated. Kedah's once verdant padi fields are locked in a struggle for survival because of climate change. Erratic rainfall, deepening droughts and sudden extreme weather events create a perfect storm atop longstanding agricultural challenges. Kedah became a showcase for climate volatility last year. In April 2024, a heatwave scorched the state, sending temperatures soaring past 40°C and desiccating the soil. A few months later, farmers faced the opposite nightmare: torrential rains that unleashed the worst flooding the state had seen in decades. It was not just smaller farmers like Ramli who suffered. Farmers with bigger operations, like Megat Asmadi Megat Saidin, 53, said the late-2024 floods cost him nearly RM100,000 in losses. "I manage 60 relong (15ha), and I also run tractors to help other farmers prepare their fields. "When the floodwaters came, all that work came to a standstill. "Everything stopped. If I add up my losses and the service income I couldn't earn, it was in the six figures, easily." This year, planting for the 2025 season in many parts of the state only began in mid-June, a few weeks behind the usual schedule. The delays disrupted the Muda Agricultural Development Authority's (Mada) two-crop cycle and dimmed hopes of achieving the much-touted five harvests in two years. In Pokok Sena, 50km away, farmers battled a record-breaking drought around the same time. The district briefly became the hottest spot in Malaysia. Fields cracked under a merciless sun. "April last year was the worst heat I've ever lived through," said Mohd Farid Shafie, 36, who farms about 150 relong (37.5ha) in Kampung Gulau. "The heat was unforgiving, both day and night. Our yields dropped, and we lost maybe 30 per cent of the harvest in my area." While 2025's heat spell has been milder, Farid said the rain has turned erratic. "Now we get dry spells, then downpours. It throws everything off. We can't plan anything with certainty anymore." Fishermen, too, are feeling the pinch of a changing climate. Che Ani Md Zain said that waves have grown stronger and more unpredictable, sometimes pushing fish further offshore. That makes it harder for small-scale fishers to get a decent catch, adding economic strain on farming communities that rely on land and sea for income. Back on the padi fields, he pointed to another man-made problem — ageing infrastructure that cannot keep up with nature's new extremes. "The irrigation system here was built in the 1970s. It wasn't made to handle this kind of climate or the amount of water we need now," Che Ani said. Without urgent upgrades, he believed even maintaining current production rates would be an uphill battle, let alone increasing it. "We talk about growing more rice, but how are we going to do that if the basic systems cannot support us under these harsh conditions?"
Zawya
08-07-2025
- Business
- Zawya
Saudi e-commerce sale soars to a record $18.4bln in Q1
Saudi Arabia - The e-commerce sales in the Kingdom of Saudi Arabia via "Mada" cards for the first quarter surged to a new high hitting over SAR69.3 billion ($18.4 billion), achieving an annual growth of 56% and an increase of SAR25 billion ($6.6 billion) compared to the same period in 2024, during which sales reached SAR44.4 billion ($11.8 billion), reported SPA. The number of transactions executed via Mada cards exceeded 370 million during the first quarter, while sales achieved a quarterly growth of 26%, an increase of approximately SAR14.1 billion, compared to SAR55.2 billion in the fourth quarter of 2024, stated the report citing the statistical bulletin issued by the Saudi Central Bank for May. Measuring monthly performance, e-commerce sales via Mada reached approximately SAR27.4 billion in May, registering an 18% growth from the previous month, when sales reached SAR23.3 billion, with transactions exceeding 147 million. The data showed a cumulative growth of 31.3% during the period from January to May 2025, an increase of approximately SAR6.5 billion, compared to sales of SAR20.9 billion in January, it added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Economy ME
04-07-2025
- Business
- Economy ME
Saudi Arabia's e-commerce sales hit $18.5 billion in Q1 2025, up 56 percent YoY
E-commerce sales in Saudi Arabia via ' Mada ' cards during the first quarter of 2025 reached their highest levels ever, totaling more than SAR69.3 billion (around $18.5 billion), achieving an annual growth of 56 percent, and an increase of approximately SAR24.9 billion compared to the same period in 2024, during which sales reached SAR44.4 billion, according to the statistical bulletin issued by the Saudi Central Bank for May. The report, carried by the Saudi Press Agency (SPA), indicated that the number of transactions executed via Mada cards exceeded 370 million during the first quarter, while sales achieved a quarterly growth of 26 percent, an increase of approximately SAR14.1 billion, compared to SAR55.2 billion in the fourth quarter of 2024. Measuring monthly performance, e-commerce sales via Mada reached approximately SAR27.4 billion in May, registering an 18 percent growth from the previous month, when sales reached SAR23.3 billion, with transactions exceeding 147 million. The data showed a cumulative growth of 31.3 percent during the period from January to May 2025, an increase of approximately SAR6.5 billion, compared to sales of SAR20.9 billion in January. The Saudi e-commerce market is witnessing rapid expansion, with total market size projected to reach between $16.5 billion and $27.96 billion in 2025, depending on the source. This growth is supported by a compound annual growth rate (CAGR) of approximately 12 percent through 2030. E-commerce now accounts for about 18 percent of total retail sales in the Kingdom, indicating significant room for further growth as digital adoption continues. Key drivers of growth Digital transformation and Vision 2030: The Saudi government's Vision 2030 initiative has been pivotal, focusing on digital infrastructure, cashless transactions, and fintech solutions. These efforts have created a robust environment for online retail and increased consumer trust in digital payments. Mobile and internet penetration: With internet penetration at 98.6 percent and smartphone usage at 97 percent, Saudi consumers are increasingly shopping online, with over 91 percent of consumers now making purchases via digital platforms. Mobile payments: The mobile payments market in Saudi Arabia is expected to reach $25.94 billion in 2025, with remote payments (including e-commerce) growing at a CAGR of 15.4 percent. Contactless and mobile wallet adoption is widespread, with 94 percent of cardholders using tap-to-pay features in 2024. Read more: E-commerce in Saudi Arabia sees 17.47 percent surge with 40,697 new records in Q2 2024 Consumer behavior and payment trends Shift to digital payments: The adoption of digital payment methods such as Mada, Apple Pay, and stc pay has simplified transactions and increased consumer confidence. Mada, as the national payment network, is central to this shift, enabling secure, instant payments both online and in-store. Mobile commerce: Over 70 percent of e-commerce transactions in Saudi Arabia are now conducted via mobile devices, reflecting the population's comfort with technology and preference for convenience. Women's participation: Women are increasingly active in the digital economy, making up nearly 75 percent of online purchases in 2023, supported by government initiatives to empower female entrepreneurs and digital workers. Sector highlights and leading categories Food and grocery delivery: This segment is witnessing particularly rapid growth, with leading platforms like Hungerstation and Jahez reporting significant increases in order volumes and gross merchandise value. Retail and social commerce: Traditional retailers such as Jarir Bookstore have successfully expanded online, while social commerce and influencer-driven sales are becoming more prominent. Business and regulatory environment Increase in e-commerce businesses: The number of registered e-commerce businesses in Saudi Arabia reached 40,953 by the end of 2024, marking a 10 percent year-on-year increase. Logistics and infrastructure: Investments in logistics, last-mile delivery, and digital payment infrastructure are further supporting the sector's growth and efficiency.
Saudi Gazette
03-07-2025
- Business
- Saudi Gazette
Saudi e-commerce sales jump to SR69 billion during 1Q 2025
Saudi Gazette report MAKKAH — E-commerce sales in Saudi Arabia via Mada cards reached their highest levels ever, totaling more than SR69.3 billion during the first quarter of 2025. This figure records an annual growth of 56 percent, and an increase of approximately SR24.9 billion compared to the same period in 2024, during which sales reached SR44.4 billion, according to the statistical bulletin issued by the Saudi Central Bank (SAMA) for May 2025. The report indicated that the number of transactions executed via Mada cards exceeded 370 million transactions during the first quarter, while sales achieved a quarterly growth of 26 percent, an increase of approximately SR14.1 billion, compared to SR55.2 billion in the fourth quarter of 2024. Measuring monthly performance, e-commerce sales via Mada during May 2025 amounted to approximately SR27.4 billion, registering an 18 percent growth compared to April of the same year, when sales reached SR23.3 billion, with the number of transactions exceeding SR147 million. The data showed a cumulative growth of 31.3 percent during the period from January to May 2025, an increase of approximately SR6.5 billion, compared to sales of SR20.9 billion in January. It should be noted that these figures include payments and purchases made using Mada cards through e-commerce websites, applications, and digital wallets. They do not include transactions made using other credit cards, as Mada is the national payment network in the Kingdom and one of the payment systems owned by the Saudi Central Bank.
