Page 133 - 7X PR REPORT REPORT DECEMBER 2024

7X signs MoU with SC Ventures during Abu Dhabi Finance Week

to empower SMEs in MENA.

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 empower SMEs with scalable, technology-enabled solutions that foster
sustainable growth and market resilience.

Abdulla Mohammed Alashram, Group CEO of 7X, 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

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