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  2. SEDCO Holding introduces Rowad program at Biban 2024

SEDCO Holding introduces Rowad program at Biban 2024

NOHA.GAD
Nov 7, 2024
SEDCO Holding introduced the Rowad program at Biban 2024 to as part of its social responsibility towards Saudi entrepreneurs

Riyadh - Exclusive Sharikat Mubasher: SEDCO Holding, a leading Saudi investment company, partook in Biban 2024 to introduce its Rowad program as part of its social responsibility towards Saudi entrepreneurs, CSR Manager Mohanad Hendi unveiled in an interview with Sharikat Mubasher on the sidelines of Biban 2024.

He clarified that the program provides training and guidance sessions for entrepreneurs covering essential financial management principles to help them manage their projects at early stages.   

Hendi revealed that the Rowad program has impacted entrepreneurs’ behavior positively since 2017 as 36% of participants adopted entrepreneurial financial behaviors while 53% of participants adopted behaviors related to commercial financing.

The official noted that SEDCO Holding provides an integrated platform that offers training for entrepreneurs to empower them to manage their financial operations well. It covers essential financial management principles, including funding and financial resources, accounting, profit and loss statements, balance sheets, cash flow management, Islamic banking services, and key success indicators in the business world.

Biban 2024, organized by the Small and Medium Enterprises General Authority (Monsha’at), takes place in Riyadh from 5 to 9 November, with the participation of more than 1,350 local and international exhibitors, over 250 speakers, and more than 150 enablement entities from around the world.

It targets creating a stimulating environment, raising administrative, financial, and technical competencies, and motivating the owners of ideas to launch their projects by allowing them to meet with local and global experts and share knowledge with key decision-makers and investors.

Throughout five days, Biban 2024 is expected to provide 10,000 investment and entrepreneurial opportunities, 420 workshops for over 19,000 beneficiaries, and consultation and guidance sessions for more than 5,000 beneficiaries.   

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Fina secures SAR 282 mn facility to scale embedded financing for Saudi SMEs
Riyadh - Sharikat Mubasher: Fina, the fintech arm of Saudi-based company SILQ, secured a SAR 282 million (around $75 million) Shariah-compliant facility from Fasanara Capital, a London-based global investment manager.The facility will accelerate SILQ’s mission to build the financial infrastructure that enables small and medium-sized enterprises (SMEs) to access capital through the same digital workflows where they buy, sell, collect, and operate, SILQ announced in a press release today.As the embedded finance platform of Saudi-based B2B enablement and fintech ecosystem SILQ, Fina embeds working capital directly into merchants' digital workflows, using real commercial activity, transaction data, and operational insights.Mohammed Aldossary, Co-founder of SILQ and CEO of SILQ Financial, affirmed that Fina was built to deliver financing that understands merchants' business, moves at their speed, and fits naturally into the digital workflows they already use.“Our partnership with Fasanara marks an important milestone in that journey. Their deep expertise in embedded finance makes them the right long-term partner to help more Saudi businesses access Shariah-compliant working capital that's embedded into the flow of commerce and delivered at the speed their businesses operate,” he added.For his part, Matt Kus, Partner and Head of Origination at Fasanara Capital, commented: “We are pleased to partner with Fina and support the continued development of embedded SME financing in Saudi Arabia. Access to working capital remains a critical priority for SMEs globally, and we believe technology-enabled platforms such as Fina can play an important role in helping merchants access financing in a more efficient and flexible way.”Building on the strength of its Saudi ecosystem, Fina is targeting the unlocking of SAR 3 billion in liquidity this year for more than 2,000 businesses, following the successful deployment of SAR 1.5 billion over the last 12 months. To date, SILQ has enabled more than SAR 20 billion in transaction volume across the Kingdom.
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