DEWA wins two CFI.co awards from Capital Finance International

Dubai Electricity and Water Authority (DEWA) has won two CFI.co 2016 awards with HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, winning the Outstanding Contribution to Local Employment - GCC 2016, and DEWA winning Best in-house Corporate Finance Team - GCC 2016.

Al Tayer won the award as a result of his role in achieving the objectives set by the UAE National Agenda, and the development of UAE national capabilities, in addition to the UAE Vision 2021 to make the UAE one of the best nations in the world by 2021 the Dubai Plan 2021 to transform Dubai into a city full of empowered, creative and happy people.

DEWA supports the recruitment and development of national talent in specialised roles, focusing on providing employees with the skills to become efficient contributors in their lines of work. DEWA has made major progress in employing UAE nationals, and has launched a scholarship programme to enable them to study renewable energy at home and abroad.

The DEWA Academy has signed agreements with several international institutions to educate its nationals in Europe and the USA. This supports DEWA’s efforts to exchange best practices and experiences, and enhance institutional excellence. DEWA won the award for Best in-house Corporate Finance Team GCC 2016 in recognition of its efforts to develop robust financial governance and achieve financial stability, while working to rationalise expenditure and revenue development. To successfully manage financial resources, DEWA works to enhance the efficiency and effectiveness of all production, transmission, and distribution operations.

DEWA has over 10,000 employees, who work to ensure that DEWA’s services are at the highest levels of efficiency, safety, and quality. DEWA’s list of achievements has contributed to its leading international position. DEWA currently provides services to over 760,000 customers. DEWA’s results have surpassed those of other top American and European companies, by reducing losses in the transmission and distribution of electricity to 3.3%, compared to 6-7% by utilities in Europe and the US.

Water network losses have been reduced to 8.2%, compared to average losses of 15% in the US, placing the UAE at the forefront for reducing water losses. DEWA also managed to achieve the best international results for power outages per customer per year, which stood at interruption rates of 3.87 minutes per year, bettering the average of 15 minutes by European companies. The UAE, represented by DEWA, was ranked first in the region and fourth globally the third consecutive year, for getting electricity, according to the World Bank’s Doing Business Report 2016.

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