Page 131 - 7X PR REPORT REPORT DECEMBER 2024

12/17/24, 2:55 PM 7X signs MoU with SC Ventures during Abu Dhabi Finance Week to empower SMEs in MENA

The partnership aims to combine the complementary strengths of both entities. Image Courtesy: 7X
MoU lays the groundwork for exploring collaborative opportunities in the Middle East and
North Africa

Press Release

December 16, 2024

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. The MoU, signed during Abu Dhabi Finance Week, lays the groundwork for exploring
collaborative opportunities in the Middle East and North Africa (MENA), with a focus on empowering

small and medium-sized enterprises (SMEs).

The partnership aims to combine the complementary strengths of both entities to power an innovation-
driven, SME-focused venture in the Middle East and North Africa. 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

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