Page 120 - 7X PR REPORT REPORT DECEMBER 2024

12/18/24, 1:07 PM 7X teams up with SC Ventures to empower SMEs in MENA | Decypha

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

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 meet the specific needs of the MENA region.
SC Ventures has been at the forefront of transforming the financial landscape, improving client experiences, and enabling global
expansion.
This partnership represents a major step towards redefining the role of SMEs in the region, building resilience, and advancing

MENA's overall economic and social development.

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