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12/18/24, 1:06 PM 7X teams up with SC Ventures to empower SMEs in MENA - Mubasher Info

7X teams up with SC Ventures to empower SMEs in MENA

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17 December 2024 09:55 PM
UAE – Mubasher: 7X, the trade, transport, and logistics investment and holding group,
signed a memorandum of understanding (MoU) with SC Ventures, Standard Chartered’s
innovation, fintech investment and ventures arm, during Abu Dhabi Finance Week.

The MoU lays the groundwork for exploring collaborative opportunities in MENA, with a
focus on SMEs, according to a press release.

The partnership aims to combine the complementary strengths of both entities to power an
innovation-driven, SME-focused venture in the MENA.

This initiative seeks to address market pain points and unlock new growth opportunities.
By focusing on extensive market insights and encouraging collaboration, the venture will
deliver cutting-edge solutions tailored to the unique challenges faced by SMEs, such as
access to funding, market entry barriers, and operational inefficiencies.

Leveraging innovative business models, SME validation frameworks, and a strategic go-
to-market approach, the initiative will develop and test a minimum viable product (MVP),
designed to empower SMEs with scalable, technology-enabled solutions that foster
sustainable growth and market resilience.

Group CEO of 7X, Abdulla Mohammed Alashram, said: “We at 7X firmly believe in the
transformative power of collaboration. The latest partnership with SC Ventures
demonstrates our commitment to empowering SMEs and promoting economic growth
across the MENA region. By combining our knowledge of trade and logistics with SC
Ventures' innovative strategies in various sectors, we hope to unlock new possibilities,
maximise value, and redefine the future of entrepreneurship in one of the world's most
dynamic regions.”

Meanwhile, the CEO of SC Ventures, Alex Manson, said: “This region holds huge
potential for the SME sector and SC Ventures is committed to invest in its growth. Our
SME-focused platform in the Middle East and North Africa region is planned for launch in
the second half of 2025. It will facilitate cross border trade and empower SMEs to grow
safely and profitably. Our partnership with 7X will help us unlock the full potential of SMEs
in the region and beyond.”

Additionally, both organisations plan to evaluate strategic alliances, benefiting from their
individual portfolios to jointly develop and implement transformative solutions tailored to

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