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Year - 2021

28/06/2021
A new collaboration between Sharakah and BankDhofar was established recently to support the SMEs in Oman. The collaboration is to facilitate a wider array of funding and supporting opportunities to small and medium enterprises in the Sultanate.
With a keen interest to help entrepreneurs, the joint support will also ensure better facilities for the startups and established businesses alike.
Commenting on this initiative, Mr. Dinkar Kishor, Deputy General Manager at Sharakah said: “We are delighted to collaborate with BankDhofar to play a significant role in the SME ecosystem in Oman and push it forward in alignment with Vision 2040. We look forward to helping SMEs and to provide financial and other solutions to contribute to the development and growth of the national economy.”
Commenting on the partnership Ammar Mohsin Al Balushi, Acting Head of Mid Corporate Banking and Business Banking, at BankDhofar noted: "The SME sector is a vital contributor to the growth and diversification of the national economy. At BankDhofar, we have always been keen to support the SMEs, and participate in initiatives that accelerate the development of the sector. We are glad to join hands with Sharakah which will enable us to offer financial solutions to SMEs."
Sharakah plays a vital role in Omani SME ecosystem. Back in 1998, it was incorporated by a royal decree to support the Omani SMEs, contributing to economic diversification, and creating jobs for locals. Our support for SMEs takes the form of three types of service. One is the promotion of the spirit of entrepreneurship across Oman, in addition to championing successful entrepreneurs. The second involves financial support, itself comprising three schemes: an equity scheme, bill discounting scheme, and loan scheme. The third is Consultancy and Advisory services. Sharakah will always continue to ensure that its role does not end by just helping an SME to start, but there is a more important role in helping them to sustain and grow.
Since its inception in 1990, BankDhofar has played a key role in the growth and development of the banking industry in the Sultanate, with strong presence in Corporate Banking, Retail Banking, Treasury and Project Finance. The bank caters to customers’ needs and requirements, and sets the standard for best customer experience through innovative products and creative solutions. BankDhofar’s commitment to community development and contribution to the growth of the national economy, has given it a reputation of commitment, foresight, and solid growth.
21/06/2021
‘My Stay’ Application or as it is known in Arabic “Eqamati” was launched recently as a mobile application to enrich the domestic tourism of Ash Sharqiya Governorate in particular and the Sultanate of Oman in general. The application can be easily downloaded for free from the App store of the smartphones.
‘My Stay’ online booking application contains various tourism services and entertainment activities to help users search for best accommodation options and the best prices for Hotels, Apartments, Chalets, Lodges, Rest houses and Camps. Furthermore, the application provides reservation services for outdoor camping lovers, reservations for cruise services in various regions of the Sultanate and bookings for mountain and desert trips. The application surfers can communicate directly to the Services Providers and Organizers and compare the prices and services among them conveniently.
The booking application is a brainchild of Ms. Maryam Al Gheilani, an entrepreneur who owns a company in tourism named “United Four Seasons” in Willayat Sur. The idea of the application comes as a result of the rapid changes and development in tourism sector globally and the need for people to use modern technology for obtaining efficient and prompt results. The project has been a beneficiary of the BP Khazzan Project for SME Development.
Speaking about the application, Maryam said: “My Stay’ Application has been an idea in my mind for long mainly because of my experience in tourism business. I found the traditional booking method slow, cumbersome and outdated. Besides, Covid-19 pandemic has made us much more technology driven and the motive to launch the App was to keep the business running and encourage people to explore the tourism sites and facilities in Oman. “The App is very user friendly and to facilitate the tourist reaching any tourist service, there is a map of the site, as well as social media accounts and contact numbers for the service providers and organizers.”
Regarding the payment, the application allows cash or electronic payment when making the booking. It has the ability to add notes and specify the time and date of the reservation. The application is a good leap in the tourism field with a diverse list of tourist sites and various recreational activities aiming to develop and advance the economic development of domestic tourism in the Sultanate. The project has been a beneficiary of the BP Khazzan Project for SME Development.
02/06/2021
Mint Marketing recently launched the new revamped brand identity of Oman Animal & Plant Genetic Resources Center “Mawarid”. The new brand makeover included developing marketing strategies, social media accounts management and the launch of creative artwork that matches the change. Mint Marketing is a company that works in creative solutions, especially marketing strategies and graphic designs since 2013.
“We have aimed in the last 3 years to expand our operations to include government entities and large corporations. After working closely with Small and Medium Enterprises (SMEs) since our establishment. The experience we have gained and the positive feedback received from our clients enabled us to move forward and target bigger clients” said Israa Al Lawati, Founder of Mint Marketing.
The company focuses in its creative solutions on bringing in a fresh perspective to the clients depending on their needs. Frist type of strategic services include developing a marketing plan, social media plan, creative direction, consulting and workshops for marketing departments in corporates. Second type of services includes developing branding identity, branding guidelines, and other digital artworks like posts, website. etc.
Mint Marketing is one of Sharakah’s beneficiaries. It received financial and advisory support from the Fund for Development of Youth Projects (Sharakah). The support facilitated the company’s growth in the local market. Sharakah offers financial and advisory services for new and existing businesses. The main objective is to positively influence businesses to sustain and grow in the local and regional market.
25/05/2021
New Rusayl Heights (ELMRR) is one of the leading Omani SME specialized in manufacturing construction chemicals and coating products. ELMRR produces a variety of products with high quality to fulfill the local market demands in construction and building industry.
Each product manufactured by ELMRR is a result of research and development with contractors, manufacturers and consumers to ensure the product complements the requirements of the market. The products include: High quality precision grouts, concrete admixtures, Industrial floorings and coatings, technically advanced joint sealants, adhesives, bonding agents, water proofing and damp proofing products, water stops, self-adhesive membranes, protective coatings and concrete repair and protection systems among others.
ELMRR was established in Muscat in 2011 by Mrs. Huda Al Saadi. The business stood against the stiff competition from big players in the market and grown over the years. Recently, the factory has expanded its operations and relocated to Samail Industrial Area aiming to increase the production capacity and adding new products to cater to the market demands. Speaking about ELMRR, owner Huda Al Saadi said: “ELMRR endeavors to be the preferred quality partner for the manufacturing and distribution of construction chemicals and adhesives in Oman. We aim to deliver our products to both our retail customers and bulk buyers in a socially and environmentally responsible way. Continuously improving our performance is of utmost importance to us.”
It is worth noting that ELMRR Company constantly strives to pay serious attention to quality and safety and to expand the range of products to attain excellence and meet international standards. The experience and knowledge enable the company to reduce the costs and complexity within efficient supply chain management and be the leading company in the sector. ELMRR products are available throughout Oman with a wide network of distributors. As a result of its independence and local manufacturing facility, ELMRR is highly flexible and responds rapidly to the changing demands of the construction industry.
New Rusayl Heights (ELMRR) was granted financial and advisory support by “Sharakah” as a startup in 2011. ELMRR has benefited and grown with numerous financial assistance and continued handholding. Sharakah’s main aim on “Continuous Support” contributes positively to the national economy by supporting the SMEs to stabilize and enhance their performance with financial and consultancy services.
16/05/2021
Al Naamani Advanced Projects has recently opened its restaurant in Muscat with the brand name Maakulatii. The name comes from the Arabic language which means ‘my food’. The restaurant specializes in Zanzibari and Omani cuisine. The merge of two seemingly contrasting cultures, is presented in the food. The concept behind Maakulatii is to provide authentic and savoury homestyle meals to its fans.
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Maakulati is a restaurant serving a selection of delicious Arabic and Zanzibari food. In the new line of menu, breakfast, lunch and dinner is served everyday. Variety of food is available which includes Biryani, Qabouli, Fish Stew, Prawns Masala, Chapati, Maharage, Arsiya etc. Other menu includes the cherished Maakulatii BBQ Box. The box comes with quality Lamb Chops, Mishakik, Beef Burgers and Squids. The box is convenient for home use as well as family camping. It comes with Bread, Sauce, Cheese and Salad and is reasonably priced
The restaurant is located in Al Ghubrah North, Boushar, behind Occidental Oman Company. Originally, it started operations in Nizwa, Ad Dakhiliyah in 2017. Serving a comprehensive market segment including students and tourists. However, potential being more in Muscat it has been moved accordingly.
“Mr. Hafidh Al Naamani, owner of the restaurant says: “The experience gained over the years, has enabled us to respectively serve the common man with good food at a reasonable price. We have come along way and now it is your turn to try our food’
Al Naamani Advanced Projects (Maakulati) was granted financial and advisory support by “Sharakah”. Maakulati has benefited and grown as a start-up and continues to develop its entrepreneurship skills. Sharakah’s main goal is to provide support for Small and Medium Enterprises (SMEs) to ensure their businesses are not only profitable but sustainable as well.
Maakulati can be contacted via mobile number: 98294736.
28/04/2021
The Ministry of Higher Education, Scientific Research and Innovation, took the initiative and held meeting with SHARAKAH, [Fund for Development of Youth Projects]. The meeting was chaired by Her Excellency Dr. Rahma Al-Mahrooqi and attended by HE Dr Saif Al Haddabi, Undersecretary for Higher Education in the Ministry of Higher Education Research and Innovation and other officials from the Ministry along with officials of Sharakah.
The meeting was held to discuss Sharakah’s role in the National Innovation ecosystem, the meeting started with Her Excellency Dr. Rahma Al Mahrooqi welcoming Sharakah team and expressed her appreciation for the efforts being made by Sharakah in supporting the SME ecosystem in Oman.
The ministry showed a great interest in collaborating with Sharakah to boost the support provided for startups and SMEs in Innovation sector to help them develop their creative ideas, developing prototypes and converting them into viable businesses. The initiative focusses on Innovation and Technology which is need of the hour and helps us to shift the economy to knowledge based and development modern technologies by providing the necessary guidance, infrastructure and financial support for innovators and inventors, from as early as ideation stage, prototype creation, and commercialization.
Her Excellency affirmed that the National System for Innovation in the Sultanate is an essential and comprehensive system established to achieve the goals of Oman’s Vision 2040, which focuses on many aspects, including supporting the role of innovators and researchers in Oman who will contribute in the national economy by providing innovative, non-traditional solutions to keep pace with the rapid development in the industrial revolution and technology, and that is done by educating individuals in their initial stages and providing them with the necessary technical skills
Sharakah officials delivered a presentation on its services and role in supporting the SMEs. It was mentioned that in Sharakah’s Strategy for 2021-2025 special thrust is being given to innovation and technologies. , It is worth mentioning that Sharakah is also providing advisory support as well as training and educating on the importance and best practices for entrepreneurship targeting different age groups across Oman, as part of Sharakah’s initiatives to support the local community in cooperation with the SME ecosystem
24/03/2021
In line with The Sultanate’s Economic Stimulus Plan (ESP) endorsed by the Council of Ministers and approved by His Majesty Sultan Haitham bin Tariq, which comprises several initiatives including Incentives to boost Small and Medium Enterprise (SME) and enhancing their role in diversifying sources of income, Sharakah’s Five Year Strategy (2021-2025) has been developed to meet the current market circumstances and to be more aligned with Oman’s Vision 2040
Oman’s Vision 2040 targets the diversification of the National Economy. In particular, it lays emphasis on the sectors of Transformative industries, Agriculture & Fisheries based projects , Mining and Mineral products, in addition to Service, Cultural, Logistics and Educational activities and their supportive and complementary sectors. Which opens up a wider field for the economy in general and for the SMEs in particular to boost their services and enhance the quality of their products to increase the percentage of their contribution to the Sultanate’s GDP, which inspired Sharakah to expand the sectors of support that were previously limited to the manufacturing, services and trading [through Bill Discounting] sectors to include the fields of Agriculture & Fisheries based projects, Tourism and Technology & Innovation.
The new strategy of Sharakah came as a support and motivation for individuals wishing to start their own businesses, which will help rekindle economic growth and business activity stifled by the COVID-19 pandemic as well as creating job opportunities for the local community. With the current economic fluctuations and unexpected changes in the market, Sharakah is flexible in the payment period which is linked to the projected financial performance.
Muuath Al Shehhi, Investment Analyst in Sharakah further commented: “We remain committed to the mandate given to support the SME community and thus help the economy, so we expanded the sectors of support to include the fields of Agriculture & Fisheries based projects, Tourism and Technology & Innovation. We have simplified the funding process and maintain transparency, which is evident from the details in our website. Besides, given the significance of having a proper business plan for each project, we have formulated a business plan template to guide potential entrepreneurs to draft the same for their project.”
19/03/2021
Sharakah held its Virtual Annual General Meeting for the financial year ended 31st December 2020 Yesterday. The Meeting was presided by Mr. Hani bin Mohamed Al Zubair, Chairman of the Board of Directors and attended by Shareholders, representatives of Shareholders, Board Members, Statutory Auditors, Lawyer, MOCI representative as well as Sharakah staff. The meeting was held virtually through ‘Zoom’ under the supervision of the Ministry of Commerce, Industry & Investment Promotion and Muscat Clearing and Depository
Mr. Hani started gave a brief of the Director’s Report and Sharakah`s achievements of last year despite the restrictions caused by the pandemic. As Covid-19 has affected economies throughout the world, Oman is no exception! Businesses and institutions, including Sharakah, have modified their business models and working approaches; embracing modern technology to keep moving forward and serving SMEs.
He further added: “Small businesses have been worst hit by the lockdowns and restrictions. The Government of Oman, as well as the Central Bank, have been trying to help businesses during these unprecedented times. Sharakah stands committed to supporting SMEs overcome the hardship and rebound to normalcy as soon as possible. As per the Central Bank of Oman directive, the Board of Sharakah, as a supporting gesture, has approved a complete interest waiver to its SMEs for a period of six months during the year. Further repayments have also been deferred for up to 12 months. We have regular follow ups with our SMEs through virtual meetings, guiding them through suggested modifications and/or innovations which could help them survive the pandemic.”
The AGM as well discussed and approved the Audited Financial Statements for the year 2020 and the appointment of Statutory Auditor for the financial year 2021.
It is worth mentioning that Sharakah’s Strategy for the next 5 years (2021-2025) has been approved to meet the current market circumstances and aligned with Oman’s Vision 2040 and the new economic stimulus plan announced earlier this month.
Mr. Hani concluded by extending Sharakah’s commitment to upholding the legacy and vision of our beloved late Sultan who believed in Omani youth, and to pledge Sharakah’s allegiance to our new Sultan His Majesty Sultan Haitham Bin Tariq. He further expressed his thanks to the 63 shareholders (Individuals and institutions) for their belief and trust in the Board of Directors and their continued support for Sharakah.
14/02/2021
Sunday, 14th Feb 2021: In partnership with bp Oman, Sharakah (Funds for the Development of Youth Projects) held a graduation ceremony marking the conclusion of the fifth ‘Khazzan for SMEs Development’ programme, under the patronage of H.E. Asila bint Salim Al Samsamia, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion.
The Khazzan for SMEs Development programme evaluated and assessed the business performance of 15 small and medium enterprises (SMEs) from around Oman, identifying their areas of improvement over a course of 12 months. The SMEs selected included different industry sectors such as manufacturing, services, and trading.
Eng. Yousuf bin Mohammed Al Ojaili, President of bp Oman, commented: “Entrepreneurship is a key pillar in progressing our national economy and communities. Our partnership with Sharakah for the fifth year has allowed SMEs to strive closer towards the Sultanate’s vision of entrepreneurship development.”
Mr. Hani M. Al Zubair, Chairman of Sharakah further added: “I would like to congratulate bp Oman for receiving the RIYADA Award for ‘Best Development Initiative’ in the Category of Entrepreneur Supporters. We at Sharakah celebrate our partnership with bp Oman in implementing the Khazzan for SME Development programme which has achieved great success through the continuous guidance and support of SMEs from all over the Sultanate. We look forward to many more years of this collaboration.”
Issa Al Jahdhami, the founder of Innovative Educational Technology (IET) and a participant of the programme stated: “We are very thankful for the opportunity provided by bp Oman and Sharakah to participate in a programme which contributed greatly to my business’s performance. The programme helped me learn how to overcome business obstacles and turn them into learning opportunities. The guidance and consultation efforts helped me understand how to efficiently run my business”.
14/02/2021
Fund for Development of Youth Projects SAOC (Sharakah) announced the launch of the second edition of Istidama Programme for SMEs, powered by HSBC Bank Oman SAOG. An orientation session was held for all the participants at the Novotel Muscat Airport, Airport Heights on 10th February 2020. The session was attended by Sameh Al Wahaibi, Head of Communications & Corporate Sustainability, HSBC Bank Oman and Shaima Al Lawatiya, Founder and Managing Director of Destination Sustainability along with the selected SMEs.
The registration for the programme was open for one month for SMEs from all the governorates, and a total of 185 applications were received. The applications were filtered based on specific criteria, after which 10 SMEs were selected to join the programme this year. The selected SMEs were from diverse industries: Manufacturing 14%, Service 46% and Trading 40%
The Istidama program aims at evaluating the performance and the sustainability plans of the selected local SMEs (micro businesses) and drawing plans for improvement over a period of 6 months.
The program uses Sharakah’s inhouse developed and tested Tools known as the Business Performance Monitoring Tool (BPMT) that aims to assess the selected ten SMEs in seven main categories: administration, marketing, communication, quality, general policies, financial and Human Resources. The program will also analyze and recommend solutions in the core subjects of corporate social responsibility and sustainable environment, social and economic development.
01/02/2021

Sharakah moved to a more accessible and prominent new location at the Airport Heights, Al Irfan area from its earlier location in Al Khuwair 33. The moving to the new location comes as part of Sharakah’s strategy to make its presence closer to customers, as the new office is strategically positioned, with easy access for Sharakah’s customers both from the Expressway as well as the Sultan Qaboos Highway. Sharakah welcomes all customers, inquirers from SMEs and potential SMEs at its new location as well as through social media channels, emails and phone calls.

New address details as below:

Golf Tower,

Muscat Hills,

Airport Heights, Madinat Al Irfan, Al Seeb

For more queries about location, please call: 24479300

Highlighting the importance of the office shifting, Ms. Nabiha Al Mandhari, Marketing Specialist at Sharakah commented: “The moving to the new location is in line with the Sharakah’s strategy to continue to expand operations and strengthening its presence closer to its clients due to the remarkable growth in the services provided to its SMEs from various sectors and governorates. Sharakah continues providing its financial and advisory support to all”

It’s worth mentioning that, Sharakah’s support for SMEs takes the form of three types of service. First is the promotion of the spirit of entrepreneurship across Oman, by delivering seminars and workshops to existing business owners and those who are aspiring to become. Sharakah also provides customized financial solutions to suit the business needs through its financing schemes. Sharakah believes that the first few years of any business are the most critical. That is why we have concentrated on offering consultation and handholding services to insure the sustainability of these businesses.

10/01/2021
Sunday, 10th January 2021: In partnership with bp Oman, Sharakah (Funds for the Development of Youth Projects) has recently concluded the ‘Zaad Al Ruwad’ virtual workshops. These workshops aimed to create awareness of financial management and entrepreneurship related topics aiming at upskilling the entrepreneurs understanding to manage businesses effectively and efficiently.
A total of five online workshops were conducted in collaboration with bp Oman Social Investment Programmes partners which included Al Rudha, Youth Sada and Global Connections Centre known as Tawasul, which are local companies with programs targeting the entrepreneurship. In addition to MEDRC, which is an international organisation established in Oman and mandated to find solutions to freshwater scarcity that carries out a program enabling entrepreneurs in this sector. An additional workshop targeted individuals from the general public. A total of 86 Omanis participated in these workshops.
Shamsa Al-Rawahiya, bp Oman Social Investment Manager, commented: “The workshops offered an interactive fun opportunity to the participants. They are based on real life business simulations, which takes the participants through a step-by-step journey in small project establishment, including on how to deal with risks and opportunities. We hope that these workshops have supported the participants to sustain and grow their business in the future”.
‘Zaad Al Ruwad’ is a 2-days interactive workshop where participants can enhance their practical business knowledge. The workshop covers the basic fundamentals of running a business. This includes learning about how to select the best the location for your business, cost planning, products and service pricing, resource allocation, how to manage a business, how to utilize opportunities as well as how to deal with challenges that may arise. The workshops targeted start-ups, business owners, students, employees, and those who were interested in developing their entrepreneurship skills.
Farahid Al Lamki, a workshop participant commented saying; “Over the course of two days, I participated in the ‘Zaad AL Ruwad’ virtual workshop, which covered several topics that helped the entrepreneurs in learning the basics of financial business management with practical exercises and case studies. During the workshop we were divided into different groups, where each group represented a start-up company looking for realistic and innovative solutions to challenges that were given t us. The workshop was well-organised and I thank bp Oman and Sharakah for this amazing opportunity.
10/01/2020
Sunday, 10th January 2021: In partnership with bp Oman, Sharakah (Funds for the Development of Youth Projects) has recently concluded the ‘Zaad Al Ruwad’ virtual workshops. These workshops aimed to create awareness of financial management and entrepreneurship related topics aiming at upskilling the entrepreneurs understanding to manage businesses effectively and efficiently.
A total of five online workshops were conducted in collaboration with bp Oman Social Investment Programmes partners which included Al Rudha, Youth Sada and Global Connections Centre known as Tawasul, which are local companies with programs targeting the entrepreneurship. In addition to MEDRC, which is an international organisation established in Oman and mandated to find solutions to freshwater scarcity that carries out a program enabling entrepreneurs in this sector. An additional workshop targeted individuals from the general public. A total of 86 Omanis participated in these workshops.
Shamsa Al-Rawahiya, bp Oman Social Investment Manager, commented: “The workshops offered an interactive fun opportunity to the participants. They are based on real life business simulations, which takes the participants through a step-by-step journey in small project establishment, including on how to deal with risks and opportunities. We hope that these workshops have supported the participants to sustain and grow their business in the future”.
‘Zaad Al Ruwad’ is a 2-days interactive workshop where participants can enhance their practical business knowledge. The workshop covers the basic fundamentals of running a business. This includes learning about how to select the best the location for your business, cost planning, products and service pricing, resource allocation, how to manage a business, how to utilize opportunities as well as how to deal with challenges that may arise. The workshops targeted start-ups, business owners, students, employees, and those who were interested in developing their entrepreneurship skills.
Farahid Al Lamki, a workshop participant commented saying; “Over the course of two days, I participated in the ‘Zaad AL Ruwad’ virtual workshop, which covered several topics that helped the entrepreneurs in learning the basics of financial business management with practical exercises and case studies. During the workshop we were divided into different groups, where each group represented a start-up company looking for realistic and innovative solutions to challenges that were given t us. The workshop was well-organised and I thank bp Oman and Sharakah for this amazing opportunity.”

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