Etihad Credit Insurance Secures AED 174 Million to Boost SME Exports Through Xport Xponential
The funding, secured in collaboration with four banking partners, was announced at the programme's official closing ceremony.
Backed by First Abu Dhabi Bank, Commercial Bank of Dubai, Ajman Bank, and Al Maryah Community Bank, the initiative aims to strengthen the UAE's non-oil economy by giving SMEs the financial tools to compete globally. The programme aligns with the country's 'We the UAE 2031' strategy, which targets AED 800 billion in non-oil exports and AED 4 trillion in trade volume over the next decade.
Minister of Economy and ECI Chairman Abdulla Bin Touq Al Marri hailed the initiative as pivotal in enhancing the role of SMEs in the UAE's economic diversification efforts. ECI CEO Raja Al Mazrouei echoed this, emphasizing the programme's role in connecting local businesses with international buyers and enabling export readiness through trade finance and insurance solutions.
Launched in May 2024 during the 'Make It in the Emirates' forum, Xport Xponential shortlisted 10 SMEs from 42 applicants. These companies, which have generated AED 2.1 billion in revenue, are now eyeing expansion into Indonesia, India, Saudi Arabia, and Oman—markets with a combined export potential of AED 31.3 billion across ten sectors.
Implemented with 19 strategic public and private partners, the programme has spurred a 27% increase in ECI's institutional collaborations, underlining its growing role in creating a resilient export ecosystem.
News Source: Emirates News Agency
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
7 minutes ago
- Arabian Business
Middle East IPOs raise $2.5 billion in Q2, led by Saudi listings
Initial public offerings (IPOs) in the Middle East and North Africa (MENA) raised $2.5 billion across 14 deals in the second quarter of 2025, up 4 per cent on the previous quarter, with Saudi Arabia accounting for most of the activity, EY said on Monday. Saudi Arabia hosted 13 IPOs spanning sectors including transportation and healthcare, raising a combined $1.9 billion. The largest Saudi listing was budget carrier flynas on the Tadawul Main Market, which contributed 44 per cent of total Q2 proceeds, followed by Specialized Medical Company at $500 million and United Carton Industries Company at $160 million, according to the EY MENA IPO Eye report. MENA IPO activity rises in Q2 In the United Arab Emirates, the Dubai Financial Market saw the debut of Dubai Residential REIT, which raised $584 million. EY said it is the largest real estate investment trust (REIT) by market capitalisation in the GCC and the region's first pure-play residential leasing REIT. 'Despite investors practising caution, we have seen strong growth,' said Brad Watson, MENA EY-Parthenon Leader. 'The diversity of sectors represented, along with milestone listings such as Dubai Residential REIT, highlights the depth of opportunities across the region.' Aftermarket performance was mixed: 10 of the 14 IPOs closed below their offer price on debut, while five recorded gains, reflecting cautious sentiment. Issuers are increasingly timing offerings to market conditions, EY said. Regional equity markets were uneven in the quarter, with the Boursa Kuwait Premier Market Index leading gains, up 17.2 per cent. EY noted a shift toward secondary offerings, with secondary listings making up 64.3 per cent of Q2 IPOs versus 35.7 per cent in Q1, indicating a preference for shareholder exits over new capital raising amid uncertainty. 'KSA continues to set the pace for IPO activity in the MENA region,' said Gregory Hughes, MENA EY-Parthenon IPO Leader. 'Landmark transactions in the UAE show how regional exchanges are evolving to meet the needs of a broadening investor base.' The pipeline for the second half of 2025 remains 'healthy', EY said, with 14 companies intending to list, including 10 from Saudi Arabia and prospective offerings from non-GCC markets such as Egypt, Tunisia and Morocco.
Zawya
19 minutes ago
- Zawya
Dubai's Amanat signs SPA to sell real estate assets for $123mln
Dubai DFM-listed Amanat Holding has entered into an SPA (sale and purchase agreement) for the sale of the real estate assets of North London Collegiate School to a buyer for 453 million dirhams ($123.3 million). The sale and transfer of the property is expected to be completed in Q3 2025. Amanat invests in and operates education and healthcare assets in the UAE, including International Medical Center, Sukoon, Abu Dhabi University Holding Company and Middlesex University Dubai. (Writing by Brinda Darasha; editing by Mily Chakrabarty)
Emirates 24/7
33 minutes ago
- Emirates 24/7
Dubai's AI Accelerator calls on tech innovators to engineer future of government services
Dubai Centre for Artificial Intelligence (DCAI) is now accepting applications for the second cycle of its 'Future of AI in Government Services Accelerator' programme, inviting both local and international tech innovators and AI companies to collaborate with government entities on innovative solutions that harness AI to enhance public services across Dubai. Launched by DCAI in partnership with Dubai Future Accelerators, an initiative of the Dubai Future Foundation, the programme seeks to attract groundbreaking ideas that address both today's challenges and those on the horizon for government services. It aligns closely with the 'Dubai Universal Blueprint for Artificial Intelligence', reinforcing Dubai's vision to become the world's largest hub for AI-driven innovation across key sectors. Through this second cycle, participating companies will have the chance to work alongside over 20 government entities, focusing on four key areas. These include refining existing services by applying AI to improve personalisation and efficiency; creating entirely new services to tackle challenges once seen as an obstacle; boosting operational efficiency by embedding AI into everyday government processes; and ensuring inclusive accessibility by developing solutions that remove barriers and make services more widely available to all. Participants in the programme will gain a host of valuable benefits. They will collaborate directly with experts to tackle real-world challenges and shape the future of public services. They will also enjoy direct access to senior decision-makers, opening doors to implement their solutions at scale. Importantly, the programme requires no equity stake, ensuring participants retain full ownership of their innovations. With strong backing and support, AI companies will be able to explore exciting growth opportunities, both locally and internationally. Additionally, the program offers fully sponsored accommodation and travel for eight weeks in Dubai, enabling participants to focus entirely on developing and deploying their projects. Registration for the 'Future of AI in Government Services Accelerator' programme is open until 28 August 2025. Selected companies will be invited to Dubai for an intensive eight-week program running from 6 October to 28 November 2025, working on-site alongside government teams. Saeed Al Falasi, Executive Director of the Dubai Centre for Artificial Intelligence, noted that the DCAI launched under the directives of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence, and Chairman of the Board of Trustees of Dubai Future Foundation, continue to propel Dubai's ambition to become the leading global city for deploying AI technologies to anticipate and shape future transformations across all sectors. Al Falasi commented: 'The Future of AI in Government Services Accelerator' programme is designed to spark innovative uses of AI, helping government entities position Dubai among the world's top cities for delivering agile, AI-powered public services defined by speed, quality, and efficiency. Our goal is to create seamless, intelligent experiences that save time and effort while enhancing quality of life, all in service of making Dubai the happiest city in the world.' The programme's first cycle drew strong global interest, with 615 AI companies from 55 countries taking part, 183 AI use cases have been defined of which 75 have been piloted, underscoring Dubai's leadership in transforming government services through AI and its steadfast commitment to improving community well-being.
