CXOToday has engaged in an exclusive interview with Dr. Malini Saba Founder and Former Chairman of Saba Group
Please tell us about Saba group –
Saba Group’ is a privately-held company with an employee strength of more than 5,000. The group operates in more than 20 countries, and comprises 15 companies across 10 verticals. Saba Group has an affinity towards agriculture and we trade in the business of rice. We have a strong foothold in pharmaceuticals and Fin-tech businesses as well. We also operate in the gold mining, real estate, entertainment, hospitality sector etc. Technological investments all over the world is also another silo that Saba Group invests in.
50 percent of the profits raised by ‘Saba Group’ are channelled into philanthropy to support education, health, art and culture, livelihood generation, and human rights. The group partners include the likes of Cargill, BAOSTEEL Group, COFCO International, Glencore, Jindal Steel & Power, LG, Mitsui & CO to name a few
As a self-made woman & top-paid chairman to head a global commodities firm, what has been your experience?
My experience has been remarkable. Commodities are an amazing space and my 3 decades in this space have been a very interesting journey. I began at the ground level, taught myself everything and worked my way up from there. My learning about risk investment propositions and uncertainties of business have been on ground. I believe I am able to gently crush the stereotype that number-crunching is the domain of ‘math men’ alone. I strongly believe that women are important for the economy and unless women too get on board, the economy cannot grow.
The commodity market globally including India of course, is a male dominant sector and finding a woman trader is a tough task but in my experience, female traders are better than male traders. As per parameters like holdings and trading history, women traders have higher potential as compared to men because they are more disciplined than their male counterparts. This discipline ensures that they focus on minimising losses and work towards getting better returns.
I ensure that I hire only women in my companies because I want to create a culture for women in this space. I want to give them a platform and opportunities to explore and experience this sector. I believe that women traders are natural information hunters and they are impeccable at validating and benchmarking their ideas to set a goal.
What is Saba group’s notion about moving beyond its commodities business?
We believe in investing in the future and this is our core philosophy. We focus on the future while staying aware of the need to build people and society. We deciphered that there was a value chain of opportunity from healthcare to mining and would remain so for many decades. We have executed that well and created ample disruptions in the pharmaceuticals, entertainment, technology, real estate, hospitality, refinery, and the upstream business of gold mining.
The gains and cash flow from these investments were used to make a difference in the life of people all over the world.
Our strategy is to strengthen our current business while using our cash flows to invest in the businesses of the future.
What is next for you and the group? What are you looking forward to?
The world is ever changing and the only constant is change. Therefore, we also believe in going with the flow. We do have a special focus on the pharmaceutical and warehousing industry but we wish to pivot, explore and change course as the world changes with new innovations.
Did you always know that you wanted to make something big and impactful?
It has been a very happy accident. My entrepreneurial journey happened quite by chance. I had a difficult childhood and I did not have a financial safety net. I have worked part time to put myself through school. I have worked multiple jobs to make ends meet. So, I am aware of what it is like to have no money and the struggle to pay for food, rent and taking care of siblings.
It was a very difficult time. Since childhood, I aspired to make a difference in the world of the needy and make enough money for charity. My success drives me even more to make a difference in the world because I have been on the other end of this equation.
Being a successful woman entrepreneur and role model, how has the journey been? What advice would you give to aspiring women professionals?
Life is a journey. Learn to savour, cherish, treasure, and embrace it with gratitude. In my professional journey I have met all sorts of people both good and bad. I have had the fortune of interacting with some of the best minds but I have also suffered at the hands of some of the worst frauds and cons. From being bullied to sexually harassed, and assaulted, the journey has been overwhelming and trying. Yet I am here, standing tall. I understand the plight of women in a male-dominated world. I say just one thing to each and every woman– never give up, never give in, do not sell your values and soul to be accepted.
Stand firm and be proud that you have come this far despite the hurdle.
What best environmental practices are in place in the regions where Saba Group is operating mines?
We invest in sustainable land management and green technology. We invest in good agricultural practices to ensure improvement in food quality and safety. We use bio-safe packaging materials and give good working conditions to our employees. We work with the locals and make sure that the land is ready for replanting, developing infrastructure, housing, and plantation.
Please tell us about the Anannke Foundation and how Covid-19 shaped your philanthropic initiatives?
Anannke Foundation is an advocate for those who are being marginalised. It focuses on healthcare, education, and the advancement of human rights.
The foundation also partnered and undertook numerous projects with former US President Bill Clinton on global initiatives, the Stanford Medical Center, YUVA, CARE International, the Concern Worldwide Program, Mother Teresa Foundation, Women refugee commission etc to name a few.
We arrange food drives, fund scholarships, build schools, provide healthcare facilities etc regularly.
