OAB Wraps Up SME Training Roadshow in Nizwa, Reaffirms Commitment to Nationwide SME Growth - Middle East Business News and Information
Muscat. 22 June, 2025. Oman Arab Bank (OAB) has successfully concluded the third leg of its SME Development Training Roadshow, held in Nizwa from 17 to 18 June, 2025. Organized in collaboration with SME Development Authority and Oman Chamber of Commerce and Industry in Nizwa, under the Bank's flagship Tumouhi initiative, the event drew wide participation from aspiring entrepreneurs and small business owners in Al Dakhiliyah, continuing a nationwide mission to support and empower Oman's growing SME sector. The event was held under the auspices of H.E Sheikh Dr. Faisal bin Ali bin Rashid Al Zidi (Wali of Manah).
Following successful workshops in Muscat and Sohar earlier this year, the Nizwa event brought together a dynamic mix of sessions covering financial literacy, business strategy, marketing, and HR fundamentals. Designed to offer hands-on learning and real-world insights, the two-day workshop also served as a vibrant networking hub for local entrepreneurs and industry experts.
H.E Sheikh Dr. Faisal Al Zidi expressed his enthusiasm towards this initiative in supporting the SME sector, praising the government's steadfast approach and the great attention it pays to this vital sector, given its pivotal role in supporting the growth of the economy and enhancing its diversity. He emphasized that supporting entrepreneurs and emerging business owners contributes to creating new job opportunities and enhancing local innovation. H.E Sheikh Dr Faisal Al Zidi stated, 'This workshop is a true turning point for entrepreneurs. They would walk in with ideas, and leave with a plan, equipped with the confidence to take their businesses to the next level. The sessions were practical, relevant, and exactly what small business owners and entrepreneurs would need.'
Sulaiman Al Hinai, Chief Wholesale Banking Officer at Oman Arab Bank, commented on the roadshow's continued momentum, 'At Oman Arab Bank, we view SMEs as key drivers of economic resilience and innovation. Through Tumouhi, we're not just delivering training — we're creating access, building networks, and empowering business owners in every corner of the Sultanate. The response in Nizwa has been incredibly encouraging, and we remain committed to reaching even more regions with the tools and support SMEs need to thrive.'
The Tumouhi Roadshow is part of OAB's long-term strategy to promote financial inclusion, empower local talent, and align with the goals of Oman Vision 2040. By providing practical tools and strategic guidance, OAB aims to equip SMEs with the foundations to grow, innovate, and contribute meaningfully to the national economy. The Bank has confirmed that future roadshows are in the pipeline, with a commitment to covering all regions across the Sultanate in the months ahead.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
See - Sada Elbalad
17 hours ago
- See - Sada Elbalad
World Bank Warns: 39 Countries Facing Severe Economic Decline due to Conflict
Taarek Refaat The World Bank has issued a stark warning over the economic deterioration in 39 conflict-affected and fragile states, revealing that more than 420 million people are now living below the poverty line in these regions. The findings, published in the Bank's first comprehensive study of fragile economies since the onset of the COVID-19 pandemic, outline a grim trajectory for some of the world's most vulnerable populations. According to Ayhan Kose, Deputy Chief Economist at the World Bank, 'Recession—not growth—has become the norm in economies plagued by conflict and instability.' The report covers countries stretching from the Marshall Islands in the Pacific to Mozambique in sub-Saharan Africa, showing that these nations have experienced a 1.8% annual decline in per capita economic output since 2020. In contrast, other developing countries recorded a 2.9% annual increase in GDP over the same period, according to data cited from the Associated Press. Poverty and Human Development Gaps Widen The study underscores staggering development disparities. Although the populations of fragile and conflict-affected countries make up less than 15% of the global total, nearly one in two people living under $3 per day reside in these nations. Infrastructure decay, weak governance, and limited educational attainment are among the core challenges. On average, residents receive only six years of education, three years less than their counterparts in other low- and middle-income countries. Life expectancy is five years shorter, and infant mortality is twice as high. Active Conflicts and Their Economic Fallout Of the 39 countries analyzed, 21 are experiencing active conflicts, including Ukraine, Sudan, Ethiopia, and Gaza. The World Bank estimates that in nations suffering from high-intensity conflict—defined as over 150 deaths per million people annually—GDP drops by an average of 20% within five years of conflict onset. The humanitarian cost is equally severe. The report states that 18% of people in these fragile countries—around 200 million individuals—face acute food insecurity, compared to just 1% in other developing nations. A Glimmer of Progress Despite the overall grim outlook, the report highlights a few 'relative success stories.' Countries like Nepal, Bosnia and Herzegovina, Rwanda, and Sri Lanka have managed to escape the spiral of fragility and post-conflict economic stagnation. 'These are examples that show progress is possible, even under extremely difficult circumstances,' said Kose. As global conflicts grow in frequency and intensity, the World Bank warns that without targeted investment and coordinated international support, many fragile states risk falling into prolonged economic paralysis—leaving hundreds of millions trapped in poverty and instability. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
See - Sada Elbalad
2 days ago
- See - Sada Elbalad
Afreximbank's Assets Surge to $43.5 Billion
Taarek Refaat As his transformative tenure comes to a close, Professor Benedict Oramah, President of the African Export-Import Bank (Afreximbank), announced a monumental rise in the institution's assets, revenues, and impact over the past decade, as he officially steps down during the opening session of the Bank's 32nd Annual Meetings hosted in Nigeria. Speaking before stakeholders and dignitaries, Oramah revealed that Afreximbank's total assets and guarantees soared from $5 billion in 2015 to $43.5 billion in April 2025—a more than eightfold increase. Over the same period, total revenues jumped from $408 million to $3.24 billion, while net income surged by 700%, reaching $1 billion in 2024. Oramah, who has helmed the bank since 2015, reflected on a decade marked by crises and resilience. 'We were tested by shocks—from commodity price crashes and a global pandemic to geopolitical upheaval—but with strong shareholder support, we delivered," he said. Though stepping down, Oramah set an ambitious tone for Afreximbank's next chapter, forecasting that the bank's total assets and guarantees could exceed $250 billion within the next ten years. 'Today, Afreximbank is not just a bank—it is a continental shield in times of crisis and a catalyst for Africa's transformation,' he stated. Afreximbank's track record under Oramah's leadership has been marked by bold and responsive financial interventions across the continent and beyond. Between 2020 and May 2025, the bank invested $120 billion across Africa and the Caribbean, addressing urgent development and recovery needs. Over the past decade, it deployed a total of $155 billion in trade finance and economic support, solidifying its role as a financial backbone for African economies. During the 2015–2016 commodity price shock, Afreximbank disbursed $10 billion to support countries such as Nigeria, Egypt, and Ghana in meeting their trade-related debt obligations and stabilizing their foreign exchange markets. Amid the COVID-19 pandemic, the bank allocated $8 billion in assistance—including $2 billion specifically for the procurement of 400 million doses of Johnson & Johnson vaccines. In response to the geopolitical and economic disruptions caused by the Russia–Ukraine conflict, Afreximbank disbursed $50 billion between 2022 and 2023, further reinforcing its role as a crisis-response institution for the continent. Innovation in Payments and Trade Finance Since the launch of Afreximbank's proprietary "AfPAY" cross-border payment system in 2020, the bank has facilitated $68 billion in commercial payments across 61 African and Caribbean nations. Additionally, it supported $33 billion in trade finance through letters of credit and confirmation services in over 30 countries. These financial instruments have helped reduce Africa's dependency on foreign currency and streamlined intra-African trade in line with the African Continental Free Trade Area (AfCFTA) agenda. Shareholder equity has grown dramatically—from $1 billion in 2015 to $7.5 billion in 2025, while liquidity expanded tenfold from $450 million to $4.5 billion over the same period. As Professor Oramah exits his post, he leaves behind not just a stronger institution, but a symbol of African financial sovereignty and resilience. "It has been the honor of a lifetime to lead Afreximbank during these defining years," he said, thanking Nigeria for hosting what would be his final address to shareholders as president. His legacy, by all metrics, is one of exponential growth, bold leadership, and deep commitment to Africa's future. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
Mid East Info
2 days ago
- Mid East Info
UAE Participates in the 10th Annual Meeting of the Board of Governors of AIIB - Middle East Business News and Information
Dr. Sultan Al Jaber participates in high-level roundtable on the sidelines of AIIB's Board of Governors Meeting, and reaffirms the UAE leadership's commitment to global partnerships and sustainable development goals Beijing June 2025 – H.E. Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and the UAE Governor to the Asian Infrastructure Investment Bank (AIIB), participated in a high-level roundtable held on the sidelines of the Bank's 10th Annual Meeting of the Board of Governors, hosted in Beijing from June 24 to 26, 2025, under the theme 'Connecting for Development, Collaborating for Prosperity.' During the meeting, the Board reviewed key achievements over the past year and explored future initiatives and projects. Participants emphasized the importance of coordinated international efforts to address global economic challenges—particularly those related to climate change—by expanding strategic partnerships, mobilizing concessional finance, and investing in sustainable infrastructure. Dr. Sultan Al Jaber commended AIIB's pioneering achievements and its critical role in financing transformative infrastructure projects across member countries. He noted that the UAE's support for this strategic partnership aligns with the directives of its wise leadership, which prioritizes multilateral cooperation, economic development, and bridge-building among nations. During his meeting with Ms. Zou Jiayi, the new President of AIIB, Dr. Sultan Al Jaber reaffirmed the UAE's continued support for AIIB's efforts to expand its global impact, noting the Bank's success since its establishment in improving living standards in many countries through developmental support and showcasing the importance of multilateral institutions in both development and financing. H.E. Mohamed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development and Alternate Governor for the UAE at AIIB, underscored the importance of the strategic partnership between the Fund and the Bank. He emphasized their shared development objectives, which effectively contribute to sustainable economic and social growth in developing nations. He added that AIIB's operational office in Abu Dhabi Global Market has proven to be a successful model for strengthening the Bank's capacity and expanding its operations. Within its first year, the office has helped align investments with the Bank's strategic priorities and enhanced engagement with clients, partners, and stakeholders across the region. It is worth noting that the UAE joined AIIB as a founding member in April 2015 and hosts the Bank's first operational office outside of China, reflecting the UAE's active and leading role in supporting and strengthening multilateral international institutions. Promising Growth and Impact: Over the past decade, AIIB has approved financing exceeding USD 60 billion to support 318 projects. According to its 2024 Annual Report, the Bank recorded exceptional operational growth, approving 51 new projects in 19 member countries, amounting to USD 8.4 billion in financing. AIIB also made significant progress in climate financing, allocating 67% of its total USD 5.6 billion in funding to sustainable projects—exceeding its 2025 target of 50%. Among these initiatives were renewable energy projects with a combined capacity of more than 21 gigawatts, contributing to the annual avoidance of approximately 28 million tons of CO₂ emissions. This decade of success reflects the UAE's forward-looking vision and its dedication to supporting multilateral institutions focused on sustainable development. It also reaffirms the country's strong commitment to international cooperation in addressing global challenges.
