A new partnership between Beehive, the Future Fund Oman (FFO), and Sohar International has launched a significant SME lending portfolio aimed at expanding access to finance for small and medium-sized enterprises across the Sultanate. The initiative has already demonstrated strong traction, deploying over OMR 7.1 million in funding to Omani SMEs to support their growth, innovation, and diversification.
A Strategic Push for Omani SMEs
The new financing option is designed to provide quick and accessible business funding, with solutions delivered within two weeks of an application. It also features flexible repayment plans, enabling SME owners to effectively manage operational needs and scale their businesses sustainably. This addresses a critical gap in the market for agile and responsive capital for the SME sector.
Peter Tavener, CEO and Co-Founder of Beehive, commented on the collaboration, “Partnering with Future Fund Oman is a strategic milestone in Beehive’s decade-long presence in the region. This collaboration validates our business model and strengthens our position as a trusted non-banking finance provider. With FFO’s support, we are equipped to address the increasing demand for SME funding and further drive sustainable economic growth in Oman.”
A Public-Private Partnership for Growth
The initiative brings together a government fund, a leading financial institution, and a fintech platform, creating a powerful ecosystem for SME support. Sohar International serves as the exclusive banking partner for the program.
“Empowering the Sultanate’s entrepreneurial ecosystem is a key pillar of our strategy, as SMEs are the true engines of economic growth and diversification,” said Abdulwahid Mohamed Al Murshidi, Chief Executive Officer of Sohar International. “This strategic collaboration with Future Fund Oman and Beehive is a powerful reflection of that commitment… By providing tailored financial solutions through this partnership, we are actively contributing to the broader goal of enabling SMEs across the country.”
Aligning with Oman Vision 2040
The program is a direct reflection of Future Fund Oman’s role in supporting the national financing framework for SMEs and startups under the Oman Investment Authority’s (OIA) mandate. By facilitating such partnerships, the fund actively reinforces the Sultanate’s economic diversification goals as outlined in Oman Vision 2040, fostering a more robust and sustainable private sector.
About Future Fund Oman
Future Fund Oman (FFO) is a specialized fund established by the Oman Investment Authority (OIA). Its mandate is to partner with the private sector to stimulate Oman’s economy by attracting foreign direct investment and supporting local small and medium-sized enterprises, in line with the objectives of Oman Vision 2040.
Source: mystartupworld
