
IFS appoints Rahul Misra as SVP & Managing Director for the Middle East and Africa
A visionary business and technology leader, Rahul brings more than 25 years of experience in driving transformation, fostering high-performance teams, and leading enterprise growth across the Middle East and Africa. He joins IFS after an 18-year career at Oracle, where he held several strategic leadership positions, most recently heading the Cloud Applications business across the Gulf and South Africa. Under his leadership, the business achieved consistent double-digit growth and drove significant industry and regional transformation.
Hannes Liebe, President for APJMEA at IFS, commented:
'We are thrilled to welcome Rahul Misra to the IFS leadership team. The Middle East and Africa represents one of our most strategic growth regions globally, with nations like Saudi Arabia and the UAE leading ambitious national transformation agendas and infrastructure development across Africa gaining rapid momentum. Our strengths in Enterprise Asset Management, Service Management, and Cloud ERP—underpinned by IFS.ai—are perfectly aligned with the needs of asset and service-intensive industries in these markets, including oil and gas, utilities, construction, engineering, and aerospace & defense. Rahul's deep expertise, regional insight, and strong leadership make him the ideal choice to lead this exciting next chapter.'
Rahul Misra, SVP & Managing Director, Middle East and Africa, said:
'IFS is entering a defining phase of its journey—crossing €1 billion in ARR and experiencing exceptional momentum in the adoption of IFS.ai. The Middle East and Africa is a region full of promise, where visionary national programs like Saudi Arabia's Vision 2030, the UAE's innovation-led economic transformation, and the continent-wide infrastructure acceleration in Africa are creating powerful tailwinds for digital and industrial innovation. With IFS's global leadership in Enterprise Asset and Service Management, and a modern, composable Cloud ERP platform, we are uniquely positioned to create lasting value for customers across the region. I'm excited to work with our customers and partners to deliver meaningful outcomes and set new benchmarks for success.'
Rahul succeeds Mehmood Khan, who after six successful years leading the MEA region, will transition into a broader executive role as Vice President, Install Base and Success for APJMEA. Under Mehmood's leadership, IFS MEA experienced transformative growth and strengthened its reputation as a trusted digital transformation partner.
' We thank Mehmood for his outstanding contributions and leadership. His impact has been instrumental in shaping the region's success, and we look forward to the value he will continue to deliver in his expanded role,' added Hannes Liebe.
About IFS
IFS is the world's leading provider of Industrial AI and enterprise software for businesses that power, service, and protect our planet. Our solutions enable companies that manufacture goods, maintain complex assets, and deliver service-focused operations to unlock the transformative potential of Industrial AI™—driving efficiency, productivity, and sustainable growth.
The AI-powered IFS Cloud platform is fully composable and built for adaptability, supporting the evolving needs of our customers across Enterprise Resource Planning (ERP), Enterprise Asset Management (EAM), Field Service Management (FSM), and Supply Chain Management (SCM). With real-time data, analytics, and machine learning, IFS empowers businesses to succeed at their Moment of Service™.
Founded in 1983, IFS today operates in over 80 countries with more than 7,000 employees. Built on a foundation of agility, customer-centricity, and trust, IFS is the most recommended vendor in its category. Learn more at ifs.com.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Zawya
4 hours ago
- Zawya
Saudi economy praised by IMF for resilience, diversification progress
RIYADH — The International Monetary Fund's Executive Board has commended Saudi Arabia's strong economic performance, resilience to external shocks, and success in advancing diversification strategies, saying the Kingdom's medium-term outlook remains robust despite global uncertainty and weaker commodity prices. In its concluding statement following the 2025 Article IV consultations, the IMF said Saudi Arabia's non-oil sector is driving growth, inflation remains contained, and unemployment among Saudi nationals fell to a record low of 7 percent in the fourth quarter of 2024. The IMF attributed the gains to fiscal discipline, structural reforms, and continued investment under Vision 2030, which have helped balance fiscal stability with economic transformation goals. Non-oil GDP expanded 4.5 percent in 2024, led by retail, hospitality, and construction, while oil GDP contracted 4.4 percent due to OPEC+ production cuts, resulting in overall GDP growth of 2 percent. The current account shifted from a 2.9 percent surplus to a 0.5 percent deficit, financed by external borrowing and reduced foreign asset accumulation. Saudi foreign reserves remain strong at $415 billion, covering 187 percent of the IMF's reserve adequacy metric. The IMF raised its growth forecast for Saudi Arabia to 3.6 percent in 2025 from 3 percent in April, projecting real GDP to accelerate to 3.9 percent by 2026 as oil output gradually recovers. Non-oil growth is expected to exceed 3.5 percent over the medium term, supported by Vision 2030 projects and major international events. While warning of risks from weaker oil demand, lower government spending, or regional security tensions, the IMF said upside potential exists if oil production rises or additional Vision 2030 investments are made. Board directors praised progress in strengthening public finance institutions, the shift to five-year medium-term fiscal planning, and proactive expenditure ceilings through 2030. They encouraged counter-cyclical fiscal policy to support growth and welcomed the resilience of the banking sector, which remains well-capitalized and profitable with non-performing loans at 1.2 percent in 2024. The report also highlighted preparations for the 2034 FIFA World Cup, estimating $26 billion in infrastructure investment that could contribute $9–14 billion to GDP, and noted a modernized investment law ensuring equal treatment for domestic and foreign investors. IMF directors called Saudi Arabia's structural reforms since 2016 'impressive,' citing improved regulatory and business environments, rising female workforce participation, and human capital development. They urged continued efforts to attract private investment and diversify the economy regardless of oil price fluctuations. The IMF also acknowledged the Kingdom's regional leadership and active participation in multilateral forums, including the G20, stressing its role in addressing global challenges. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (


Al Etihad
4 hours ago
- Al Etihad
Saudi economy resilient amid global shocks, says IMF
4 Aug 2025 18:29 A. SREENIVASA REDDY (ABU DHABI) Saudi Arabia's economy has demonstrated strong resilience to external shocks, with the non-oil sector expanding, inflation remaining contained, and unemployment reaching record lows, according to the International Monetary Fund's (IMF) 2025 Article IV IMF reported that non-oil real GDP grew by 4.5% in 2024, driven by retail, hospitality, and construction sectors. In contrast, oil GDP fell by 4.4% due to continued OPEC+ production cuts, resulting in a moderated overall growth rate of 2.0%. Despite this, inflation stayed low, averaging 1.7%, while the unemployment rate among Saudi nationals dropped to an all-time low, with youth and female unemployment halving over the past four current account shifted from a surplus of 2.9% of GDP in 2023 to a deficit of 0.5% in 2024, as increased investment-related imports and remittance outflows weighed on external balances. Nonetheless, the Saudi Central Bank's net foreign assets stabilised at $415 billion, covering 187% of the IMF's reserve adequacy IMF projects non-oil growth to remain above 3.5% over the medium term, supported by Vision 2030 projects and government-led initiatives. Real GDP growth is forecast to accelerate to 3.6% in 2025 and 3.9% in 2026, as OPEC+ production cuts are gradually phased out. Inflation is expected to stay contained, with CPI averaging 2.1% in emerging twin deficits—fiscal and current account—the IMF said fiscal and external buffers remain ample. The fiscal deficit is projected to widen to 4.0% of GDP in 2025, with public debt rising to 29.8% of the outlook remains strong, the IMF warned of downside risks from weaker oil demand, lower government spending, and regional security tensions. On the upside, growth could benefit from higher oil production or additional Vision 2030-linked investments. Under Article IV of the IMF's Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country's economic developments and policies.


The National
7 hours ago
- The National
Saudi Arabia shows strong resilience amid global economic shocks, IMF says
Saudi Arabia's economy has shown "strong resilience", defying global economic shocks amid the growth of its non-oil economy, tamed inflation and record-low unemployment, the International Monetary Fund (IMF) has said. The Arab world's biggest economy is expected to keep its non-oil growth above 3.5 per cent over the medium term, which mirrors the positive impacts led by its Vision 2030 economic programme, the Washington-based lender said in its annual assessment of the kingdom on Monday. The IMF last week projected Saudi Arabia's economy to expand at a 3.6 per cent pace in 2025 and 3.9 per cent in 2026, supported by the continued phase-out of Opec+ production cuts. In 2024, non-oil real gross domestic product grew by 4.5 per cent, driven by retail, hospitality, and construction, according to the agency. The country, the world's top-oil exporting nation, has enjoyed robust domestic demand spurred by government-led projects and the hosting of major international events, the agency said. Consumer prices are expected to remain contained, while its current account deficit is seen to persist over the medium term, it added. Saudi Arabia's banking sector remained resilient, with lenders' balance sheets staying robust underpinned by high capitalisation, profitability and non-performing loans at their lowest levels in nearly a decade, the IMF said. Unemployment among Saudi nationals also hit a record low, as the jobless rate among youth and women halved over four years, the lender added. Directors of the IMF's executive board said Saudi Arabia's strong economic performance merits a "favourable" outlook, "helped by appropriate macroeconomic policies, strong buffers and impressive reform momentum". The directors agreed that a gradual fiscal consolidation is needed to achieve intergenerational equity, which could be achieved "through broader tax policy reforms to increase non-oil revenue, wage bill containment, energy subsidy reform alongside better targeting social safety nets and streamlining of non-essential expenditures". Saudi Arabia is focusing on diversifying its economy away from oil with an emphasis on the development of sectors such as technology, property, tourism and infrastructure as part of Vision 2030. The kingdom is supporting the development of several industries spanning different sectors to generate employment and help its non-oil economy to grow.