Qanawat, the leading distributor for Mobily’s products in the region, has recently been awarded two major awards and also named one of the 100 Fast Growing Companies in Saudi Arabia for 2010.

In addition to this, Qanawat has also received the award for registering the 'Best Strategic Growth' for this year. The results of the awards were announced in Riyadh under the sponsorship of the General Investments Authority.

'Saudi Fast Growth 100' is an index formed by Saudi enterprises and academics at Harvard University to track industry performance.

A national program to promote entrepreneurship and innovation in Saudi Arabia, Saudi Fast Growth ranks the fastest-growing emerging companies in the Kingdom that are creating jobs and spurring innovation and growth.

The awards shed light on those companies that represent the economic future of the Kingdom, as they contribute to building a more competitive and dynamic Saudi economy through their energy and innovation. The winners are ranked according to their revenue performance over the last five years.

The two awards were presented to Dr Mohammed Bahabri, managing director of Qanawat, at an Awards Gala at Sagia's 4th Annual Global Competitiveness Forum held last week in Riyadh.

The awards were attended by more than 3000 participants including business leaders, academics and government officials from Saudi Arabia and abroad.

"We are very excited to be a part of the Saudi Fast Growth and honored to be awarded a place among the '100 Fast Growing Companies.' It is a great recognition of all our continuous hard work," said Dr Mohammed Bahabri, managing director of Qanawat.

"Winning the award for Best Strategic Growth is particularly exciting for us as we are constantly striving to develop clear strategies for growth and ensure that the needs of  our customers and partners are effectively and efficiently met," he added.

The awards honored Qanawat’s commitment to serving its customers and facilitating the success of its partners, as well as its strong market presence and visionary strategic outlook.

According to Bahabri, Qanawat has held a place among the '100 Fast Growing Companies' for two years running in the year 2010. In 2009, the company’s total sales reached SR1.5 billion ($399 million) with a growth rate of 25 per cent.

Qanawat was successful in building the largest distribution network system for the sale of telecommunications operators’ products and services in the Kingdom, which includes pre-paid and post-paid subscriptions, charging cards, and a delivery of data and services device.

“We greatly value our customers and partners and these awards are a validation of our efforts and dedication to building strong relationships, and a reflection of our leadership in the telecoms sector. We will continue to roll out our plans and reinforce our efforts to further strengthen our commitment to KSA and its economy”, added Dr Bahabri.-TradeArabia News Service