Mohammed Al Rashidi

Can you outline the evolution of One Global Holding’s offerings?

Since 2004, I’ve spearheaded the digital transformation in the Middle East, starting with mobile content and value-added services. Our early work involved content sourcing like comics and games, sold via mobile operator channels. Venturing into goods, we partnered with Kwik Kopy, an Australian company in Kuwait, to integrate MMS with physical product printing. This led us into mobile payment innovations, transforming telecoms operators into financial transaction facilitators. We launched the first SMS-based zakat donation system in 2006, a pioneering effort in the region. In 2008 in Sudan, we introduced a mobile payment system using Java technology on basic Nokia phones, catering to the unbanked population with a decentralized ledger system, akin to blockchain. This was a significant leap in mobile finance technology before the smartphone era. Our endeavours expanded into healthcare and travel, introducing innovative digital solutions as the first app for vaccine management and opening a travel agency in 2012. In the US, we worked on encryption projects for Android phones and proposed digital wallet solutions for Disney and American bikers.

How did the collaboration between One Global Holding and start-ups begin?

We decided to build an ecosystem that provides support instead of trying to solve problems ourselves. We wanted to develop a start-up that could resolve challenges. All start-ups are looking for products and markets to sell their products. Startups typically require talent, know-how, subject matter expertise, advisories, experts who can advise them on what they need to develop a product and so on. They also need to find the market to sell it as well as funding to fuel their operations. We analyzed that structure and established three subsidiaries for One Global: One Global Innovation, One Global Hub, and One Global Capital. Given that we are in a digital economy, we decided to produce digital ventures and require digital tools for that. We currently have three layers within our innovation strategy: the infrastructure layer where you have your cloud; the orchestration layer, which is our unique layer that has a core component of each industry; and the third layer, which is the application layer. To build a payment service, companies need a notification engine, payment methods, transaction monitoring, fraud prevention offerings, as well as identity management, screening, and more.