Type Public Area served GCC & MENA Region Number of employees 12,000 Founded 1975 Headquarters Kuwait City | Industry Holding company Total equity US$4.2 billion (2015) Total assets 32 billion USD (2015) Revenue 2.047 billion USD (2015) Net income 175 million USD (2015) | |
 | ||
Key people Sheikh Hamad Sabah Al Ahmad Al Sabah
(Chairman)
Faisal Hamad Al Ayyar
(Vice Chairman) Products Commercial Banking, AMIB, Insurance, Real estate, Industrial, Investment, Media & Technology Subsidiaries OSN, Jordan Kuwait Bank | ||
Kipco gala dinner 2013
Kuwait Projects Company (Holding), known as KIPCO, is an investment holding company in the Middle East and North Africa (MENA) region, with consolidated assets of US$33.2 billion as of 30 June 2016. The Group has significant ownership interests in a portfolio of over 60 companies operating across 24 countries.The group's main business sectors are financial services, media, real estate and manufacturing. Through its core companies, subsidiaries and affiliates, KIPCO also has interests in the education and medical sectors.
Contents
History
KIPCO was incorporated on 2 August 1975 under Article 94 of the Kuwaiti Commercial Companies Code, Law No. 15 1960. Since incorporation, the company has grown substantially and made significant investments in a diversified portfolio of companies operating throughout the GCC and the wider MENA region.
Corporate Governance
KIPCO is a strong supporter of promoting transparency of operations, thereby launching its annual Shafafiyah (transparency) investors’ forum in 2004. In this forum, KIPCO and its Group companies shed light on ethical and responsible decision making methods, while safeguarding the integrity of financial reporting. KIPCO has made timely and balanced disclosures, while efficiently recognising and managing risk.
Shareholding Structure
KIPCO’s principal shareholder is Al Futtooh Holding Company (AFH), a Kuwaiti holding company owned by members of the Kuwaiti ruling family, with a direct holding of 44.7% as of 31 December 2015. The remainder of the shares are primarily held by institutions, equity funds, high-net-worth individuals and retail investors.
The following table sets out the percentage holdings of the Company’s shareholders as at 30 June 2016:
Group Structure
The principal subsidiaries and associates of KIPCO are in the financial services and real estate sectors, and KIPCO also has a joint venture in the media sector. The remaining companies of the Group and its associates operate in the service and industrial sectors.
The table below sets out the KIPCO’s Principal Companies:
Principal Companies/ Key Subs and Associates
Business Strategy
The key elements of the Group's strategy are to:
Regional Presence
The Group and its associates have a presence in the following countries in the MENA region:
The Protégés Program
The Protégés is a mentorship program designed to provide young people with opportunities to learn life and leadership skills, through combination of travel, lectures, group activities, challenges and games for around 6 weeks. Around 25 Protégés are selected based on a thorough screening process ensuring that they meet high standards of excellence. KIPCO is the strategic partner of the program and is supported by nine Group companies.
Dyslexia Campaign
Dyslexia Campaign is KIPCO's initiative for public awareness about Dyslexia.The campaign – which featured TV and press advertising to highlight the problems faced by those people suffering from dyslexia – was the first of its kind in the Gulf region. In 2008 KIPCO won an award for the campaign on dyslexia at Kuwait's first Corporate Social Responsibility (CSR) Awards.