Year - 2010

03/12/2010
`Sharakah` consolidates concept of partnership and support Communication

The Fund for Development of Youth Projects (Sharakah) held a meeting with the investors who are benefiting from its support and finance.

The meeting was aimed at sharing information in regards with the progress of their investment projects in the different economic sectors and updating them with the details about the phases which these projects have already passed.

In the meeting, the investors also shared their viewpoints about the role of the fund in financing individual initiatives as well as assessed this experience in view of the ground realities the investors encountered with as they started establishing their private projects.

During the deliberations, the officials of the fund also wanted to know the future aspirations of the investors in regards with promoting and developing these business projects.

Abdul Qadir Ahmed, General Manager of Sharakah, after his emerging from the meeting with the investors, said: "The meeting was fruitful as we held detailed discussions, on the progress of work in their projects, with the investors benefiting from the finance provided by the fund, ".

He said that some projects have already been completed and achieved good results. There are other projects that are soon to be completed and would be fully operational shortly.

Mr. Abdul Qadir stated: "We are satisfied with the initiatives taken in this regards. These efforts have achieved significant successes in establishing private projects which have added value to the national economy. They have also helped in ensuring benefits for the local communities, especially in the area of construction industry which is currently in increasing demand resulted by the speedy growth in the real estate sector.

Mr. Abdul Qadir Bin Ahmed said that the meeting also reviewed the progress of work in financing the projects by the fund. The procedures and steps taken to complete the financing process were also discussed to know to the viewpoints of the investors.

He also pointed out that the remarks of the investors were of utmost importance and were very constructive. Some of their points of views will be taken into consideration in the future financing processes.

"We are looking forward to develop the financing process of private initiatives in the economic sectors which can enable the Omani Youth in starting their own projects and encourage them to take this approach", emphasized Mr. Abdul Qadir.

The investors benefiting from the support provided by Sharakah lauded the role of the fund and its considerable contributions in supporting different enterprises and adopting their ideas while aiming at establishing private projects. They confirmed that the support of the fund contributed significantly to the success of their initiatives and achieve their aspirations.

30/11/2010
Sharakah organizes workshop:Entrepreneurs told to implement road safety culture

The workshop was conducted by Ms. Bernadette Bhacker, Director, Sustainability LLC. Talking about safe driving aspects in the Sultanate, Bernadette called upon companies to have a responsibility to employ and engage drivers who are ‘fit to drive’ to ensure others are not put at risk by their work-related activities, including driving.

“Your involvement and action as head of the company will affect the attitudes and behaviours of others and set the organisation’s fleet safety culture,” she told the entrepreneurs, adding, “As an employer you have a duty of care for the health, safety and well-being of your staff, contractors and the population in the areas in which you operate.”

Bernadette called upon companies to invest in drivers having good qualification, valid licence and training. “The establishments should understand that road safety is a shared responsibility and they should put good systems and policies in place to improve the safety standards,” she said.

The director of Sustainability LLC said road crash death figures are still a worrying factor for Oman, adding, “Over the last few years, the crashes have occurred to a variety of reasons like rapid development, highly motorised roads, high performance vehicles, high portion of male drivers, poor driver training, low levels of road safety education, fast roads and high posted speed limits and limited speed management measures.”

She called upon the people to be more pro-active by asking for better road safety standards. The change is happening in the Sultanate and the next decade will be crucial in this regard, Bernadette added.

Dinkar Kishor, Assistant General Manager of Sharakah said: “The primary objective of organsing this workshop is to spread awareness among Omani entrepreneurs about road safety so that they can bring a change in the attitude and behaviour of their employees while on roads."

“Other than financing the projects, we try to look into various aspects of running a successful business. We mentor our investors time and again, and the Driving for Better Business workshop is one such initiative,” he added.

Yaqoub Khalfan Salim Al-Mahrooqi, an entrepreneur and a participant, praised the efforts of Sharakah for organizing the workshop, and urged all businessmen to make road safety their numero uno priority.

Sharakah is the brand name of the Fund for Development of Youth Projects. Its core objectives are to provide equity and other means of financial support to small and medium enterprises owned by Omani entrepreneurs.

17/10/2010
`Sharakah` briefs Engineering students about Entrepreneurship & Services of `Youth Fund`

Students of Caledonian College of Engineering were introduced to the concept of how to start their own businesses at a presentation and interactive made by the Fund for Development of Youth Projects (Sharakah).

Dinkar Kishor, Assistant General Manager of ‘Sharakah’ explained the concept and spirit of becoming a successful ‘Entrepreneur’. He explained how the Youth Fund supports Omani entrepreneurs by providing them with funding and necessary expertise needed to develop their business ideas into profitable ventures. Around 75 students attended the presentation.

AGM emphasized to the students the need to support the Spirit of Entrepreneurship in order to build Oman’s economy and create jobs for themselves and for fellow Omanis, which is the need of the hour. He said that instead of becoming a job seeker, they should become the job provider!

At the end of an enlightening session, Dinkar thanked Department of Educational and Professional Development at Caledonian College of Engineering for introducing the brilliant concept of ‘Advanced Life Skills Development Program’ in their curriculum, as it is very relevant and also for giving an opportunity to Sharakah to interact with the vibrant Youth, who are future of the country. He welcomed the college’s decision to make this workshop a regular feature for students in various semesters.

Dr Ahmed Hassan Al Bulushi, Senior Deputy Dean of the College also addressed the students on this occasion and urged them to opt for entreneurship. Besides the students, the programme was attended by officials of ‘Sharakah’ Faculties of Deptt of Educational & Professional Development.

Sharakah is the brand name of the Fund for Development of Youth Projects. Its core objectives are to provide equity and other means of financial support to Small and Medium Enterprises owned by Omani entrepreneurs.

28/06/2010
Sharakah to support AIESEC Young Leaders Forum 2010

The Fund for Development of Youth Projects (Sharakah) will support the AIESEC Young Leaders Forum 2010which will be held in Muscat on June 30.

A MoU in this regard was recently signed between Abdul Qadir Ahmed, General Manager of Sharakah and Anjali Thaker, President of AIESEC in Oman. Sharakah will be platinum sponsor of the event.

The general manager said, “Sharakah decided to support the conference to activate the spirit of leadership among youth and to provide a positive impact on communities in Oman.”

Established in 1948, AIESEC is the world`s largest youth organization with 35,000 members from 1,700 universities in 107 countries. AIESEC aims to spread awareness among students about critical issues in their community, provide them with the needed skills to develop and discover their potentials and advance their involvement in their local community and the world issues.

Sharakah is the brand name of the Fund for Development of Youth Projects. Its core objectives are to provide equity and other means of financial support to Small and Medium Enterprises owned by Omani entrepreneurs.

17/05/2010
Sharakah, KOM discuss ways to promote SMEs in IT

The Fund for Development of Youth Projects (Sharakah) officials recently got first-hand information about the experience of the Knowledge Oasis Muscat in encouraging small and medium enterprises (SME).

The Fund officials were briefed about added value software and information technology initiatives, the technological solutions and adopting some specific technical projects that enhance the digital culture in the Sultanate.

Sharakah, headed by Abdul Qadir Ahmed, General Manager, also discussed challenges faced by SMEs. He posed some ideas concerning minimizing the challenges by way of integrated feasibility studies for business ideas and steps to benefit from the new strategies of the fund in developing the ideas, projects and financing.

Officials from Sharakah were also briefed about existing business projects in the Knowledge Mine and were informed about new services offered by the mine for the authors of ideas and business works.

10/05/2010
Sharakah briefs students about youth fund

As part of efforts exerted by the Fund for Development of Youth Projects (Sharakah) to raise awareness about the importance of creating private commercial businesses and entrepreneurship, Sharakah gave a presentation at Al Nab Primary School for Girls recently.

Ahmed Bin Suleiman Bin Younis Al Naabi, Administrative and Financial Officer at Sharakah, presented the objectives of the Fund that aim at supporting private initiatives to create entrepreneurship projects by the categories of youth in the Sultanate and focusing on creative ideas that add an important value to business.

Al Naabi explained the business and investment aspects in many sectors that are financed by the Fund for Development of Youth Projects. He highlighted some successful examples that benefited from the support of Sharakah during the past years. Al Naabi focused on the diversity of support means adopted by the Fund with the objective of finding appropriate alternatives for the persons who wish to practice business and entrepreneurship in the ways that suit the desires of those people.

Sharakah is the brand name of the Fund for Development of Youth Projects. Its core objectives are to provide equity and other means of financial support to Small and Medium Enterprises owned by Omani entrepreneurs.

04/05/2010
Sharakah takes part in career fair

The Fund for Development of Youth Projects (Sharakah) recently participated in the annual careers fair held at Oman Tourism and Hospitality Academy.

The event was inaugurated by Sayyid Hamed Bin Hilal Al Busaidi, Labour Undersecretary, Ministry of Manpower. The Fund exhibited the financing opportunities it offers to many sectors including the tourism sector that gets huge attention from the management of the Fund in order to keep pace of the development that this vital sector witnesses in the country as a result of the growing opportunities in tourism spheres and supporting services.

The participation of the Fund came with the objective of spreading the awareness about the importance of small and medium enterprises sector, and showing how to benefit from this sector in creating job opportunities for the Omani citizens, enriching the national economy and teaching the graduates how to make feasibility studies for their next projects and how to benefit from the services offered by the Fund. Sharakah is the brand name of the Fund for Development of Youth Projects. Its core objectives are to provide equity and other means of financial support to small and medium enterprises owned by Omani entrepreneurs.

24/03/2010
Sharakah held its 11th AGM

The 11th Annual General Meeting (AGM) of Sharakah (Fund for Development of Youth Projects S.A.O.C.) was held on 24th March 2010 at Radisson Blu Hotel.

Mr. Said Al Sahib, Vice Chairman, Sharakah, presided at the AGM. The meeting was attended by the Board of Directors, Shareholders and the officials from the concerned authorities.

The AGM discussed and approved the Audited Financial Statements for the year 2009 and the appointment of Statutory Auditors for the financial year 2010.

The Vice Chairman in his address stated that: “during last year the Fund had achieved the employment generation to 24 Omanis through the financially assisted units. After rebranding exercise under the new name of Sharakah last year, the Fund assisted 7 projects during last two years through various financial schemes and all are performing well. The Chairman also thanked the shareholders for their support, perseverance and strong belief in the Fund’s Mission”.

The Vice Chairman also mentioned the announcement of Mr. Abdul Qader Ahmed as the new General Manager of the Sharakah and he will be fully engaged in developing and implementing business strategy for the Fund.

Sharakah (Youth Fund) program is owned and operated by the Fund for the Development of Youth Projects. Its core objective is to provide Equity and other means of financial support to Small & Medium Enterprises owned by Omani Entrepreneurs.

22/03/2010
Sharakah participates in recruitment exhibition in Sohar

Sharakah (Fund for Development of Youth Projects) is participating in the recruitment exhibition that is being organized by six applied science colleges -- Nizwa, Sohar, Sur, Salalah, Ibri and Rustaq – in Sohar from March 22 till March 24.

Sharakah’s objective is to brief new graduates about opportunities the Fund provides for establishing private projects and the financing options provided by the Fund for supporting youth projects.

The Fund showcased available opportunities for small and medium enterprises in the field of amusement, entertainment, supporting industries, information technology, learning, training and the support services related to the construction, tourism, oil, gas and manufacturing sectors.

Sharakah officials in a presentation to the students explained benefits and support offered by the Fund through the available financing programmes, whether through the loans offered by the Fund or participating with capital in establishing the projects that attracts financing from private investors, individuals or financial organisations.

In future, the Fund aims to participate in recruitment exhibitions held by academic institutions and the other organizations to inform the public about its activities, financing programmes and its support for the projects.

Sharakah is owned and operated by the Fund for the Development of Youth Projects. Its core objective is to provide equity and other means of financial support to Small and Medium Enterprises owned by Omani entrepreneurs.

07/03/2010
Sharakah participates in SQU Career Fair

Sharakah (Fund for Development of Youth Projects S.A.O.C.) has taken part in the Career and Training Opportunities Fair, organized by the Centre for Career Guidance at Sultan Qaboos University opened on 7th March 2010 under the auspices of Sayyid Abdullah Bin Hamad Al Busaidy, Chairman of the State Audit Institution.

The Shatakah participation was attracted a large number of Senior Officials from various organizations and students from top educational institutions. The participation was very beneficial for creating awareness of Sharakah among potential young Omani entrepreneurs who are interested to establish their own business as part of Sharakah’s objectives. Sharakah participated last year also in the fair.

Sharakah program is owned and operated by the Fund for the Development of Youth Projects. Its core objective is to provide Equity and other means of financial support to Small & Medium Enterprises owned by Omani Entrepreneurs.