DEWA: Best In-House Corporate Finance Team GCC 2016

Considered one of the best-run utility companies in the world, the Dubai Electricity and Water Authority (DEWA) serves more than 760,000 households and businesses in the emirate and consistently obtains a customer satisfaction rate of over 94%.

The company showcases what a properly managed state-owned entity can achieve. DEWA reduced transmission losses across its grid to barely 3.3% – less than half the rate considered acceptable in Europe and North America. The company obtains similar efficiencies with its water distribution network.

DEWA’s operations and processes are wholly driven by client demand. Bureaucracy is kept to a minimum and procedures have been streamlined. The average customer now only spends five minutes annually dealing with the company.
DEWA’s efficiency is widely recognised and was cited by the World Bank as one of the reasons for Dubai’s ascendancy on the Ease of Doing Business global ranking.

With an eye to meeting the future demand, the utility has embarked on a AED2.6bn (£530m/€640m) expansion drive to further upgrade and extend capacity. The company also has plans for a 1,000 MW solar power facility and recently signed a deal to build a 2,400 MW clean coal power plant. The company’s in-house finance team has gained a stellar reputation for securing the best possible deals by leveraging the utility’s sound finances and excellence in corporate governance.

The CFI.co judging panel has no doubts whatsoever that the Dubai Electricity and Water Authority merits the 2016 Best In-House Corporate Finance Team GCC.