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    Egypt’s agriculture exports rise 17.2 percent in 5 months

    Egypt’s agriculture exports rise 17.2 percent in 5 months

    Egypt secures $66 mln from EU, AFD to expand wheat storage

    Egypt secures $66 mln from EU, AFD to expand wheat storage

    Agreements signed to establish 4 food factories in Jordan

    Agreements signed to establish 4 food factories in Jordan

    Morocco set to launch potash project: report

    Morocco set to launch potash project: report

    Food Africa and pacprocess MEA to launch in December with an even larger area

    Food Africa and pacprocess MEA to launch in December with an even larger area

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

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      Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

      Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

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      International investors keen on entering Saudi market, says minister

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      Egypt aims to enhance contribution of IT sector to GDP: Talaat

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      Saudi airports witness 42% rise in passengers in first 4 months of 2023

      Oman’s annual inflation rate eases to 1.1% in April, lowest since March 2021

      Oman’s annual inflation rate eases to 1.1% in April, lowest since March 2021

      Egypt starts implementation of silicon production project in New Alamein

      Egypt starts implementation of silicon production project in New Alamein

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      Oman gears up for its first smart city

      Saudi real estate ‘booming’ on big office space demand

      Saudi real estate ‘booming’ on big office space demand

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      Value of Saudi construction contracts jump 35% to $51.3bn: report

      Qatar to implement new strategies for real estate development

      Qatar to implement new strategies for real estate development

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      Real Estate Development Fund deposits $248m in Sakani accounts to boost Saudi housing goals

      Sharjah records 21,486 real estate transactions worth Dh5.9 billion in Q1 2023

      Sharjah records 21,486 real estate transactions worth Dh5.9 billion in Q1 2023

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        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Egypt invests $64mln in electricity network development in South Sinai since July 2014

        Egypt invests $64mln in electricity network development in South Sinai since July 2014

        First accredited low-carbon ammonia shipment dispatched from Saudi Arabia to Japan

        First accredited low-carbon ammonia shipment dispatched from Saudi Arabia to Japan

        Oman’s refinery products output jumps by 44%

        Oman’s refinery products output jumps by 44%

        Iraq agrees to 30% stake in TotalEnergies $27bln energy project

        Iraq agrees to 30% stake in TotalEnergies $27bln energy project

        Oman signs $20bn hydrogen deals

        Oman signs $20bn hydrogen deals

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          Qatar: Over 700 hotel keys added in Q1

          Qatar: Over 700 hotel keys added in Q1

          Jordan’s tourism income surges 88% as visitors flock to the country

          Jordan’s tourism income surges 88% as visitors flock to the country

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

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          Leisure sector in Qatar stronger after World Cup 2022

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

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        • Agrofood
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          • Agriculture
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          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Egypt secures $66 mln from EU, AFD to expand wheat storage

          Egypt secures $66 mln from EU, AFD to expand wheat storage

          Agreements signed to establish 4 food factories in Jordan

          Agreements signed to establish 4 food factories in Jordan

          Morocco set to launch potash project: report

          Morocco set to launch potash project: report

          Food Africa and pacprocess MEA to launch in December with an even larger area

          Food Africa and pacprocess MEA to launch in December with an even larger area

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
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            • Transport & Logistics
            Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

            Qatar’s non-oil sector achieved 9.9% growth in Q4 2022: Prime Minister

            International investors keen on entering Saudi market, says minister

            International investors keen on entering Saudi market, says minister

            Egypt aims to enhance contribution of IT sector to GDP: Talaat

            Egypt aims to enhance contribution of IT sector to GDP: Talaat

            Saudi airports witness 42% rise in passengers in first 4 months of 2023

            Saudi airports witness 42% rise in passengers in first 4 months of 2023

            Oman’s annual inflation rate eases to 1.1% in April, lowest since March 2021

            Oman’s annual inflation rate eases to 1.1% in April, lowest since March 2021

            Egypt starts implementation of silicon production project in New Alamein

            Egypt starts implementation of silicon production project in New Alamein

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman gears up for its first smart city

            Oman gears up for its first smart city

            Saudi real estate ‘booming’ on big office space demand

            Saudi real estate ‘booming’ on big office space demand

            Value of Saudi construction contracts jump 35% to $51.3bn: report

            Value of Saudi construction contracts jump 35% to $51.3bn: report

            Qatar to implement new strategies for real estate development

            Qatar to implement new strategies for real estate development

            Real Estate Development Fund deposits $248m in Sakani accounts to boost Saudi housing goals

            Real Estate Development Fund deposits $248m in Sakani accounts to boost Saudi housing goals

            Sharjah records 21,486 real estate transactions worth Dh5.9 billion in Q1 2023

            Sharjah records 21,486 real estate transactions worth Dh5.9 billion in Q1 2023

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Egypt invests $64mln in electricity network development in South Sinai since July 2014

              Egypt invests $64mln in electricity network development in South Sinai since July 2014

              First accredited low-carbon ammonia shipment dispatched from Saudi Arabia to Japan

              First accredited low-carbon ammonia shipment dispatched from Saudi Arabia to Japan

              Oman’s refinery products output jumps by 44%

              Oman’s refinery products output jumps by 44%

              Iraq agrees to 30% stake in TotalEnergies $27bln energy project

              Iraq agrees to 30% stake in TotalEnergies $27bln energy project

              Oman signs $20bn hydrogen deals

              Oman signs $20bn hydrogen deals

              Trending Tags

              • Hospitality
                Qatar: Over 700 hotel keys added in Q1

                Qatar: Over 700 hotel keys added in Q1

                Jordan’s tourism income surges 88% as visitors flock to the country

                Jordan’s tourism income surges 88% as visitors flock to the country

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Leisure sector in Qatar stronger after World Cup 2022

                Leisure sector in Qatar stronger after World Cup 2022

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

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              Facilitating access to finance for Jordan’s SMEs

              OBG

              May 25, 2016
              in Economy
              0
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              Jordan is intensifying efforts to provide support for start-ups and small and medium-sized enterprises (SMEs) by easing access to financing.

              Rising public and private investment in Jordan’s digital economy contributes to an optimistic outlook despite some continued obstacles to conventional bank finance.

              In need of funding
              According to the 2011 census, roughly 98% of all companies in the kingdom are micro-enterprises or SMEs, employing some 71% of the private sector labor force – though this share dips to 31% once public sector workers are included in the total, as per OECD figures.

              Moreover, SMEs account for upward of 40% of Jordan’s total nominal GDP, making access to finance for SMEs key to the country’s economic development.

              However, in a survey of the business environment of Jordan and surrounding countries, the European Bank for Reconstruction and Development (EBRD) reported that more than 70% of SMEs in Jordan are credit-constrained, compared to 19.7% of large businesses, while a 2012 EBRD survey found that 36% of small businesses in Jordan perceive access to funding as either a major or very severe obstacle to their operations.

              This is particularly true for start-ups with no credit history and limited collateral.

              Government support
              Work is being done to bridge the financing gap for SMEs, as the government has pushed through initiatives with banks and multilateral institutions to offer more credit to smaller businesses.

              Jordan’s private credit bureau – established last year by Italy’s CRIF and overseen by the Central Bank of Jordan (CBJ) – is expected to ensure better monitoring of borrowers, which should increase the ease of doing business in the country.

              Wider availability of credit information should also enhance the transparency of smaller businesses, allowing for lenders to make more informed decisions.

              The CBJ has offered funding to Jordanian banks at lower interest rates in order to offer SMEs lending at preferential rates, Nemeh Sabbagh, CEO of Arab Bank, told OBG late last year.

              In addition to calling for improved access to finance for small businesses, the CBJ has made JD1bn ($1.4bn) available to SME lending programs, according to Ziad Fariz, governor of the central bank.

              Another public body – the Jordan Loan Guarantee Corporation – is working to expand its services to local businesses. The company, which was created to provide export credit and finance guarantees for SMEs, recently tripled its capital to expand its supporting role.

              Push for digital economy
              As one of the most developed and robust ICT markets in the region, the public sector has also pivoted toward developing programs designed to expand Jordan’s role as a center for entrepreneurship and innovation.

              Oasis500, the government’s flagship seed investment company, has been active in financing primarily tech start-ups since its establishment in 2010 by providing between $30,000 and $50,000 for each venture.

              As of last year Oasis500 had invested in 95 companies, with plans for more as it diversifies its current investment portfolio. As part of this push, the company announced in August 2015 that seven tech start-ups had benefitted from its latest round of investment funding, including gaming company Play3arabi, e-commerce platform Top Steering, real-time data transmission platform Digat and technical solutions provider Visual Diamond.

              Private sector participation
              Despite these initiatives, more needs to be done for SME funding, Sabbagh said during the Euromoney Conference in April.

              While public support should provide a catalyst for growth, long-term viability will also depend on the amount of private investment the SME and start-up sector can generate. However, here, too, there are some promising signs.

              In late March liwwa, the Amman-based peer-to-peer sharia-compliant lending platform, received $2.3m in seed investment from DASH Ventures, with participation from Bank al Etihad and MENA Venture Investments.

              The platform allows borrowers to bypass traditional approval processes from conventional lenders, allowing SMEs and start-ups to source funding directly from other users.

              “In order to truly make capital available for the SMEs that need it, we have to use technology to achieve economies of scale and drive down the costs of the SME lending process,” Samer Atiani, CTO of liwwa, told industry media last month.
              Oxford Business Group
              25 May

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