The Microfund for Women (MFW) has announced the winners of its Mada entrepreneurship program, an initiative designed to foster the growth and expansion of small and medium-sized enterprises (SMEs) in Jordan. Dr. Raed Khreis of “Itqan Labs for Mushroom Science and Plant Tissue Culture” and Maha Al-Nawbani of “Yara Foundation for Embroidered Clothing” were named the top entrepreneurs in the program’s first cycle.
A Catalyst for SME Growth
Launched last year, the Mada program is a strategic partnership between MFW and the European Bank for Reconstruction and Development (EBRD), with financial backing from the European Union and implementation by Manafeth for Consulting and Technology.
The program provides entrepreneurs with a comprehensive roadmap for growth. This includes specialized practical training in financial management, marketing, and green transformation, alongside professional consulting services and access to subsidized financing to help scale their businesses.
A Year-Long Journey to Victory
The announcement was made at a final ceremony where six finalists competed for the top prizes. Dr. Khreis secured the grand prize of full interest-free financing for his project, while Ms. Al-Nawbani was awarded financing at half the standard interest rate.
The final stage was the culmination of a year-long intensive training and empowerment journey for 40 participants. Divided into two cohorts in Amman and Irbid, the entrepreneurs underwent programs focused on developing their managerial and project management skills. The program emphasized specialized mentorship and guidance sessions to help refine their ideas into actionable business plans. A third cohort of 20 participants is set to begin training in the first quarter of this year.
Investing in Creative Energies
Maha Al-Saeed, CEO of Microfund for Women, commented on the program’s impact, stating, “The Mada program is not just a passing training course; it is a real investment in the creative energies that seek to leave a mark on the labor market.”
She added, “We are proud of the 40 participants who showed exceptional commitment throughout the past year. The interest-free loan prize was designed to be a strong and motivating push for the winner, enabling them to expand without additional financial burdens.”
A Partnership for Economic Development
Gretchen Biery, Regional Director for the Eastern Mediterranean at the EBRD, praised the collaboration. “We are proud of our partnership with the Microfund for Women, which continues to expand opportunities for entrepreneurs, helping them access finance, build their capabilities, and unlock their full potential.”
Biery continued, “The Mada program stands out as an effective model that equips entrepreneurs with the practical tools and support they need to develop their businesses and innovate. We congratulate this year’s winners and are delighted to see their ideas evolve into impactful projects that contribute to the economic and social development of Jordan.”
About Microfund for Women
Founded in 1996, the Microfund for Women is a private, non-profit company registered with the Ministry of Industry and Trade and operates under the supervision of the Central Bank of Jordan. It is part of Tanmeyah, Jordan’s microfinance network, dedicated to providing financial services and support to entrepreneurs across the country.
Source: AmmanJo
