Andrea Zanon is a Founder, CEO and experienced technology and impact entrepreneur who has made powerful strides in his career. He is currently the CEO of Confidente Coaching and Empower Capital.
Arab Women entrepreneurs on the rise: Follow the money
As I started working on women entrepreneurship in 2011, I was fortunate to work with formidable Arab women entrepreneurs across the Middle East and North Africa (MENA). It was thanks to these women who met between Saudi Arabia, Abu Dhabi, Lebanon, Djibouti, and Egypt that I was able to bring different partners together and launch the first MENA women entrepreneur investment program. I did that as the World Bank resilience regional coordinator. The program was challenged in Washington as it moved away from the traditional analytical and lending operational work that the World Bank promoted. However, by 2014 it had become a multi-million-dollar women focused investment program and an institutional example of how Public Private Partnership (PPP) can empower women entrepreneurs, create jobs, and economic resilience.
The Largest Development Bank selects Wall Street CEO to address climate and sustainable development
As Ajay Banga, a former Wall Street CEO, was chosen as the World Bank’s new President, it will be interesting to learn more about the implications for such a bold move and what it means for climate finance moving forward. Banga begins his five-year term on June 2, 2023.
The World Bank choses a Wallstreet CEO to address climate and development challenges
As we learn that Ajay Banga, the former CEO of Mastercard was chosen as the World Bank new President, it will be interesting to learn more about the process for this selection as well as the positive implications for such a bold move. The Bank’s President (this is what practitioners call the Bretton Woods Organization) is chosen by the United States which is the Bretton Woods largest shareholder, while the Bank’s sister organization, the IMF is normally led by a European Managing Director. The second largest shareholder is Europe followed by China.
Lessons From Berkshire Warren Buffett 2023 Shareholder's Meeting: Do What You Are Good At, Remove Toxic People And Be Kind
As I arrived in Omaha on May 4th to attend Warren Buffett Berkshire & Hathaway (NYSE: BRK-A) shareholders' meeting, my 7th attendance, I realized something was different this year. The crowd was larger as the travelling restriction from Covid disappeared. There was also a generally positive atmosphere all around. Thousands of newcomers joined the meeting as they believe we are approaching the end of the Warren Buffett and Charlie Monger era. The two billionaire investors are respectively 92 and 99 years old.
Warren Buffett shareholders meetings: More economic and financial pain ahead
Over 40000 people gathered in Omaha, Nebraska between May 4-6 for the Berkshire and Hathaway’s annual shareholders meeting. This summit is also known as the Woodstock of capitalism. Investors, family offices, hedge funds leaders gather at this event and host private meetings to share insights on investments and the future of the economy. Warren Buffett, and Charlie Monger the leaders of Berkshire are respectively 92 and 99 years old are two of the wealthiest men in the world worth over $100 billion each. Among the corporate celebrities attending this year's shareholder's meeting were Bill Gates, Founder of Microsoft, as well as Tim Cook, the CEO of Apple.
Empowering Global Communities to Make Better Decisions for Success and More Impactful Living
Recently, in an exclusive interview with CXO Magazine, Andrea shared his professional journey, the mission and vision behind Confidente, inspiration behind starting We Empower Cities (WEC) acceleration program, personal role model, and much more. The following excerpts are taken from the interview.
Saudi Arabia continues to use the ongoing market turmoil to its advantage
Saudi Arabia was one of the fastest growing economies in 2022 breaking the GDP $1 trillion dollars record. According to Saudi’s statistics the Kingdom’s economy rose at 8,7% in 2022, faster than any G7 or G20 countries. Oil and gas activities remained the biggest sector contributing to 33% of GDP, while government services followed at 14.2%. Saudi Aramco, the Kingdom controlled oil company, registered a profit of USD 48.4 billion (up 90% from 2021) for the second quarter of 2022. Bloomberg reported that this was “the biggest quarterly adjusted profit of any listed company.”
Fund-Raising for Startups Just Became Tougher. Time For Entrepreneurs to Shift Gear!
With 25 years of entrepreneurship, operations, sustainability and technology experience, Andrea brings a hands-on approach to partnering with investors, corporate boards, management, to create accelerated returns, resilient investment, and market leadership. Andrea specializes in Resilience, Investment Promotion, and Women Entrepreneurship. Andrea was the Risk Management Coordinator for the World Bank in the Middle East for 8 years. Andrea continues to advise International Financial Institutions, and entrepreneurs on clean tech, sustainability, impact investments. Andrea is a Science and Foreign Policy Graduate from Georgetown University and has a bachelor’s degree in philosophy and Foreign Languages from Bologna University.
New Cracks Show Up In The Global Financial System
New cracks in the global financial systems are showing up across North America and Europe. Since January 2023, several banks have shown extreme financial difficulties starting with Credit Suisse, which was just acquired on March 18th by the other Swiss rival UBS for about US$ 3.6 billion. Credit Suisse had previously refused financial aid from the Saudi royal family, which owns 39% of Credit Suisse through their national Sovereign Wealth Fund PIF. Also, and more concernedly, Silicon Valley Bank (SVB) and Signature Bank have shut down operations in 2023 and have been rescued by the US regulators.
The new world bank president will be from the global south
Having worked at the World Bank for almost 10 years, I understand the importance of selecting a new leader that understands development challenges, and that is both business and politically savvy. These skills are invaluable to the new President to effectively address climate, energy, food, and debt crises.
Sustainability Investment Trends and the Role of Green Startup Going Forward
Sustainable business and ESG investment have become the norm since 2020. Large corporations are all now issuing sustainability reports and most global companies are integrating Net-Zero into their business models. In 2022 investment in ESG accelerated across all industries, and according to Bloomberg, sustainability assets under management (AUM) in 2023 reached $38 trillion. Bloomberg anticipates that ESG AUM will reach $50 trillion by 2025. This means that roughly every three dollars invested, one will be invested in sustainability. To further demonstrate the shifting investment trend, it is remarkable to check what Black Rock’s CEO Larry Fink said in 2021 in his investment letter to shareholders “There is no company whose business model won’t be profoundly affected by the transition to a net zero economy…companies not quickly preparing themselves will see their businesses and valuations suffer”. This essentially means that climate risk is becoming as valuable as investment risk and investors are acting accordingly.
Davos Economic Forum 2023-A year of potential positive shocks
This year, the Russian, Chinese and U.S. Presidents did not come to the Davos annual meeting. This is not surprising given that these three countries are dealing with dramatic crisis and economic re-adjustments at home. Russia has been at war with Ukraine for almost 1 year, the United States is still grappling with an over 6% inflation, and China is dealing with the Covid-19 aftershocks and the reopening of its economy.