Committed to its social responsibility towards supporting Omani entrepreneurs, Oman Investment and Finance Company – Khedmah – recently signed a collaboration agreement with SMEs Development Authority to empower local SMEs by creating a conducive environment for them to thrive.

The agreement was signed at the Authority office by Mr. Abdulaziz Said Al Raisi, Vice President for SMEs Development Authority, and Saud Ahmed Al Siyabi, Chief Operating Officer for OIFC.

Under the agreement, Khedmah will allocate free spaces including utility costs, in a number of its selected branches around the Sultanate, for SMEs to exhibit their products and services.

Khedmah will also promote the products of these SMEs on its own digital platforms.

Furthermore, OIFC will work towards enhancing the skills of entrepreneurs by engaging them in technical capacity-building programmes in the fields of finance and administration.

On the other hand, the Authority will conduct field visits to evaluate the performance of the beneficiaries and provide assistance to them in the marketing and technical aspects.

Speaking on the agreement, Mr. Abdulaziz said: “This collaboration comes in line with the Authority’s strategies toward developing SMEs and it also aims to boost public-private partnership. The initiative seeks to foster a more inclusive environment for this category by creating a marketing platform for them to stimulate their growth and reach a wider segment of the community. Additionally, it will provide effective workshops for these talents in order to sharpen their skills to ensure the growth and sustainability of their projects.”

Commenting on the initiative, Mr. Saud Al Siyabi said: “We are delighted to sign this agreement with the Authority. Through this fruitful collaboration, we aspire to contribute to the development of the SMEs sector. This initiative will pave the way for us to lend a helping hand to entrepreneurs to succeed in their business.”

“Khedmah branches around the Sultanate will function as a platform for them to display their products which will lower their expenses. This endeavour resonates with OIFC’s strategy of building its branches to be a one-stop-shop that offers various services and solutions under one roof. We are certain that this gesture will benefit all parties and contribute to empowering SMEs,” Al Siyabi added.

Over the past year, Khedmah delivered various initiatives under its corporate social responsibility programme.

The initiatives were directed toward different vital segments of society. The company provided financial support to the Ministry of Social Development in order to purchase medical equipment and assistive devices for the severely disabled in-house residence of Al-Aman Rehabilitation Centre affiliated with the Ministry.

Furthermore, Khedmah signed an agreement with Oman Charitable Organisation to allocate an annual contribution from the company as per the requirements set by the organization. The objectives of this collaboration are to help a number of families affected by fires and support others in purchasing remote study supplies for their children. The company additionally provided support to many charitable teams to distribute food supplies to some regions during the pandemic.