DAVOS: Philanthropy has the power not only to do great good, but to do so in a way that stimulates additional capital investment from business and government sources, Emirati businessman Badr Jafar told Arab News on the sidelines at the World Economic Forum in Davos.
Jafar knows a thing or two about the subject. In addition to his roles as CEO of Crescent Enterprises, a multifaceted business operating across nine sectors in 15 countries, and chairman of Gulftainer, the largest privately owned container-port operator in the world, he is special envoy for business and philanthropy for the UAE, holds multiple advisory positions in the humanitarian and development sectors and co-founded the Arab World Social Entrepreneurship Program.
“The term philanthropy itself conjures up this image of the sort of billionaire donor who has lots of money to give away, and I don’t like that,” he said.
It is problematic, Jafar said, because far from simply flinging money around in the hope that some of it sticks, many philanthropists operate in a far more sophisticated way.
“Capital today is a continuum, and impact is also a continuum,” he said.
