During the year, Kamco Invest achieved significant milestones in its sustainability journey. The company took a pioneering step by becoming the first company in Kuwait's financial sector to join the United Nations Global Compact initiative, a voluntary leadership platform for the development, implementation, and disclosure of responsible business practices.
Furthermore, the company started looking into the principles of responsible investing and the first initiative will be to include clean and green energy as part of its Kamco EPADI Fund mandate that invests in energy, petrochemicals, and downstream industries.
During the year, the Company further developed its digitization strategy and launched the second phase of the Kamco Invest App, consisting of new added features, performance upgrades, and an enhanced user interface. A primary feature added as part of the second phase is the dashboard, which has been designed to showcase each client’s complete portfolio holdings. Another added feature allows clients to invest in solutions offered by Kamco Invest through the App. With the current update, clients can now open and fund a portfolio instantly by depositing cash and start their investment journey with the Company’s investment solutions.
Kamco Invest also made strides in unifying its efforts through collaborations with global entities that promote sustainable business practices. These collaborations and partnerships further enhanced the company's ability to reach its sustainability goals and make a more resounding positive impact.
The Company further demonstrated its commitment to youth empowerment by inaugurating student lounges at Kuwait University and providing training opportunities for students and graduates through intensive internship programs.
Regarding corporate governance, Kamco Invest has consistently worked on establishing a robust framework that harmonizes its business operations with both best practices and ethical standards. This approach guarantees the company's commitment to following and abiding by relevant laws and regulations that influence its operations. Furthermore, by consistently and meticulously reviewing its practices, the company promptly incorporates any new regulatory advancements.
Faisal Mansour Sarkhou, Chief Executive Officer commented, “Our sustainability approach enables us to be more transparent, ethical, and environmentally conscious in our operations. This stems from our belief that sustainability has become a key business imperative that greatly impacts how we operate and react towards the environment, society, and our employees. These initiatives showcased our dedication to sustainability and responsible business practices, further aligning with our mission to create a positive impact on society while delivering value to stakeholders.”
Sarkhou concluded by saying, “Although there is much to work towards, we remain committed to integrating ESG factors across all our operations and building on our sustainability agenda in the future.”